NRT vs XLC: Correlation
How closely do North European Oil Royality Trust (NRT) and Communication Services Select Sector SPDR Fund (XLC) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRT and XLC?
Across a 3-year window, the weekly returns of NRT and XLC correlate at -0.17, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.01, with an annualized covariance of -143.5 %².
Within NRT's tracked universe of 62 assets, XLC comes in at #15 by 3-year correlation. The last year tells two different stories: NRT led by 83.7 percentage points, +85.2% for NRT against +1.5% for XLC. One caveat on sizing: NRT is 3.2 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 XLC: side by side
| NRT (North European Oil Royality Trust) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +85.2% | +1.5% |
| 5-year return | +131.5% | +37.5% |
| Volatility (ann.) | 51.6% | 16.0% |
| Beta vs S&P 500 | -0.42 | 0.90 |
| Max drawdown (3Y) | -66.1% | -18.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 11.95% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | NRT | XLC |
|---|---|---|
| 2022 | +41.9% | -37.6% |
| 2023 | -46.5% | +52.8% |
| 2024 | -25.3% | +34.7% |
| 2025 | +88.4% | +23.1% |
| 2026 | +41.9% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRT and XLC good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between NRT and XLC?
As of 2026-08-27, the correlation of weekly returns between NRT and XLC is -0.17 over 3 years, -0.23 over 1 year and -0.01 over 5 years.
Is XLC a good diversifier for NRT?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nrt-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRT correlations · XLC correlations
