NRT vs TROW: Correlation
North European Oil Royality Trust (NRT) and T. Rowe Price (TROW) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRT and TROW?
On 3 years of weekly data the NRT/TROW correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.31) runs below the 3-year figure (-0.20). The 5-year figure is -0.05, and annualized covariance runs at -238.1 %².
By 3-year correlation, TROW places #31 of the 62 assets tracked against NRT. The last year tells two different stories: NRT led by 77.1 percentage points, +85.2% for NRT against +8.1% for TROW. One caveat on sizing: NRT is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TROW: side by side
| NRT (North European Oil Royality Trust) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | +85.2% | +8.1% |
| 5-year return | +131.5% | -37.0% |
| Volatility (ann.) | 51.6% | 23.5% |
| Beta vs S&P 500 | -0.42 | 1.10 |
| Max drawdown (3Y) | -66.1% | -34.0% |
| Market cap | $0.1B | $24.0B |
| P/E (trailing) | 8.4 | 11.3 |
| Dividend yield | 11.95% | 4.57% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | NRT | TROW |
|---|---|---|
| 2022 | +41.9% | -42.2% |
| 2023 | -46.5% | +3.4% |
| 2024 | -25.3% | +9.7% |
| 2025 | +88.4% | -4.7% |
| 2026 | +41.9% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRT and TROW good diversifiers for each other?
Yes. With a correlation of -0.20, NRT and TROW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NRT and TROW?
The NRT/TROW correlation stands at -0.20 on a 3-year window (1 year: -0.31, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is TROW a good diversifier for NRT?
Yes. With a correlation of -0.20, NRT and TROW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nrt-vs-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nrt-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRT correlations · TROW correlations
