NRT vs UE: Correlation
Measured on weekly returns over the past three years, North European Oil Royality Trust (NRT) and Urban Edge Properties (UE) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRT and UE?
Across a 3-year window, the weekly returns of NRT and UE correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.18 lands near the 3-year figure. Stretching to 5 years gives 0.05, with an annualized covariance of -233.9 %².
Within NRT's tracked universe of 62 assets, UE comes in at #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NRT outperformed by 78.3 percentage points (+85.2% for NRT against +6.9% for UE). Risk is not evenly split, since NRT carries 2.2 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 UE: side by side
| NRT (North European Oil Royality Trust) | UE (Urban Edge Properties) | |
|---|---|---|
| 1-year return | +85.2% | +6.9% |
| 5-year return | +131.5% | +37.5% |
| Volatility (ann.) | 51.6% | 23.3% |
| Beta vs S&P 500 | -0.42 | 0.70 |
| Max drawdown (3Y) | -66.1% | -29.7% |
| Market cap | $0.1B | $2.9B |
| P/E (trailing) | 8.4 | 40.2 |
| Dividend yield | 11.95% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRT | UE |
|---|---|---|
| 2022 | +41.9% | -22.8% |
| 2023 | -46.5% | +35.3% |
| 2024 | -25.3% | +21.7% |
| 2025 | +88.4% | -7.2% |
| 2026 | +41.9% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRT and UE 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 UE?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.18 over the last year and 0.05 over 5 years.
Is UE 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?
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-ue.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nrt-vs-ue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRT correlations · UE correlations
