NRT vs TIP: Correlation
How closely do North European Oil Royality Trust (NRT) and iShares TIPS Bond ETF (TIP) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRT and TIP?
On 3 years of weekly data the NRT/TIP correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.19 over 3 years. The 5-year figure is -0.02, and annualized covariance runs at -42.9 %².
Within NRT's tracked universe of 62 assets, TIP comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NRT ahead by 83.8 points (+85.2% versus +1.4%). Risk is not evenly split, since NRT carries 11.7 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
NRT vs TIP: side by side
| NRT (North European Oil Royality Trust) | TIP (iShares TIPS Bond ETF) | |
|---|---|---|
| 1-year return | +85.2% | +1.4% |
| 5-year return | +131.5% | +1.2% |
| Volatility (ann.) | 51.6% | 4.4% |
| Beta vs S&P 500 | -0.42 | 0.05 |
| Max drawdown (3Y) | -66.1% | -3.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 11.95% | 4.47% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $14.6B |
| Sector / category | US Listed | ETF · Bonds |
TIP is an Inflation-Protected Bond fund from iShares: $14.6B under management, a 0.18% expense ratio, a 4.47% trailing dividend yield.
Year-by-year returns
| Year | NRT | TIP |
|---|---|---|
| 2022 | +41.9% | -12.3% |
| 2023 | -46.5% | +3.8% |
| 2024 | -25.3% | +1.7% |
| 2025 | +88.4% | +6.8% |
| 2026 | +41.9% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRT and TIP good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between NRT and TIP?
The NRT/TIP correlation stands at -0.19 on a 3-year window (1 year: -0.34, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is TIP a good diversifier for NRT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nrt-vs-tip.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrt-vs-tip/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NRT correlations · TIP correlations
