PEO vs SBR: Correlation
How closely do Adams Natural Resources Fund, Inc. (PEO) and Sabine Royalty Trust (SBR) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEO and SBR?
Across a 3-year window, the weekly returns of PEO and SBR correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 212.7 %².
By 3-year correlation, SBR places #34 of the 42 assets tracked against PEO. Correlation aside, the last 12 months split them widely, with PEO ahead by 32.5 points (+41.6% versus +9.1%).
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.
PEO vs SBR: side by side
| PEO (Adams Natural Resources Fund, Inc.) | SBR (Sabine Royalty Trust) | |
|---|---|---|
| 1-year return | +41.6% | +9.1% |
| 5-year return | +179.3% | +200.0% |
| Volatility (ann.) | 20.2% | 22.9% |
| Beta vs S&P 500 | 0.30 | 0.33 |
| Max drawdown (3Y) | -18.9% | -18.5% |
| Market cap | $0.8B | $1.1B |
| P/E (trailing) | 4.8 | 15.1 |
| Dividend yield | 7.09% | 6.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEO | SBR |
|---|---|---|
| 2022 | +41.8% | +132.1% |
| 2023 | +0.9% | -13.1% |
| 2024 | +13.6% | +4.1% |
| 2025 | +10.0% | +14.0% |
| 2026 | +38.5% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEO and SBR good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PEO and SBR?
The PEO/SBR correlation stands at 0.46 on a 3-year window (1 year: 0.51, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SBR a good diversifier for PEO?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/peo-vs-sbr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/peo-vs-sbr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PEO correlations · SBR correlations
