PBT vs. SBR
PBT (Permian Basin Royalty Trust) and SBR (Sabine Royalty Trust) are both stocks. Both are in the Energy sector — PBT in Oil & Gas Midstream, SBR in Oil & Gas E&P. Over the past 10 years, PBT returned 21.16%/yr vs 16.53%/yr for SBR. At a 0.28 correlation, their price movements are largely independent.
Performance
PBT vs. SBR - Performance Comparison
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Returns By Period
In the year-to-date period, PBT achieves a 66.37% return, which is significantly higher than SBR's 10.69% return. Over the past 10 years, PBT has outperformed SBR with an annualized return of 21.16%, while SBR has yielded a comparatively lower 16.53% annualized return.
PBT
- 1D
- 7.10%
- 1M
- -1.27%
- 6M
- 58.62%
- YTD
- 66.37%
- 1Y
- 120.92%
- 3Y*
- 8.02%
- 5Y*
- 44.09%
- 10Y*
- 21.16%
SBR
- 1D
- 1.14%
- 1M
- -0.87%
- 6M
- 12.24%
- YTD
- 10.69%
- 1Y
- 18.49%
- 3Y*
- 12.80%
- 5Y*
- 23.53%
- 10Y*
- 16.53%
PBT vs. SBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBT Permian Basin Royalty Trust | 66.37% | 56.75% | -16.91% | -42.84% | 166.22% | 218.45% | -7.68% | -29.15% | -28.11% | 23.21% |
SBR Sabine Royalty Trust | 10.69% | 14.04% | 4.06% | -13.10% | 132.08% | 60.71% | -24.24% | 15.77% | -9.61% | 34.83% |
Correlation
The correlation between PBT and SBR is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1987 | 0.28 |
Over the past year, PBT and SBR have become more correlated (0.50) than their long-term average of 0.28, meaning their price movements have been converging.
Fundamentals
PBT:
$1.31B
SBR:
$1.07B
PBT:
$0.38
SBR:
$5.69
PBT:
74.50
SBR:
12.94
PBT:
0.99
SBR:
0.78
PBT:
66.78
SBR:
12.41
PBT:
$13.06M
SBR:
$57.67M
PBT:
$13.06M
SBR:
$58.05M
PBT:
$11.70M
SBR:
$55.09M
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Return for Risk
PBT vs. SBR — Risk / Return Rank
PBT
SBR
PBT vs. SBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Permian Basin Royalty Trust (PBT) and Sabine Royalty Trust (SBR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PBT | SBR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.15 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 5.67 | 1.00 | +4.67 |
| Martin ratioReturn relative to average drawdown | 14.66 | 2.06 | +12.60 |
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Drawdowns
PBT vs. SBR - Drawdown Comparison
The maximum PBT drawdown since its inception was -83.17%, which is greater than SBR's maximum drawdown of -56.40%. Use the drawdown chart below to compare losses from any high point for PBT and SBR.
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Drawdown Indicators
| PBT | SBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.17% | -56.40% | -26.77% |
Max Drawdown (1Y)Largest decline over 1 year | -21.46% | -18.54% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -61.36% | -18.54% | -42.82% |
Max Drawdown (5Y)Largest decline over 5 years | -65.05% | -34.56% | -30.49% |
Max Drawdown (10Y)Largest decline over 10 years | -73.87% | -50.71% | -23.16% |
Current DrawdownCurrent decline from peak | -9.36% | -6.38% | -2.98% |
Average DrawdownAverage peak-to-trough decline | -25.65% | -13.62% | -12.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.29% | 8.99% | -0.70% |
Volatility
PBT vs. SBR - Volatility Comparison
Permian Basin Royalty Trust (PBT) has a higher volatility of 13.08% compared to Sabine Royalty Trust (SBR) at 6.83%. This indicates that PBT's price experiences larger fluctuations and is considered to be riskier than SBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBT | SBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.08% | 6.83% | +6.25% |
Volatility (6M)Calculated over the trailing 6-month period | 32.77% | 15.48% | +17.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.96% | 24.47% | +19.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.83% | 31.81% | +16.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.95% | 31.22% | +11.73% |
Dividends
PBT vs. SBR - Dividend Comparison
PBT's dividend yield for the trailing twelve months is around 1.31%, less than SBR's 6.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBT Permian Basin Royalty Trust | 1.31% | 1.92% | 4.92% | 4.30% | 4.56% | 2.28% | 7.10% | 10.80% | 11.20% | 7.09% | 5.38% | 6.81% |
SBR Sabine Royalty Trust | 6.54% | 7.53% | 8.41% | 9.41% | 10.13% | 7.72% | 8.59% | 7.49% | 8.98% | 5.31% | 5.50% | 11.82% |
Financials
PBT vs. SBR - Financials Comparison
This section allows you to compare key financial metrics between Permian Basin Royalty Trust and Sabine Royalty Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
PBT and SBR have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBT has higher volatility (13.08%) compared to SBR (6.83%). In terms of maximum drawdown, PBT dropped -83.17% vs SBR's -56.40%.
PBT currently has the higher Sharpe Ratio (2.77 vs 0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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