PVL vs. NTRA

Last updated Jun 23, 2026

PVL (Permianville Royalty Trust) and NTRA (Natera, Inc.) are both stocks. PVL operates in Oil & Gas E&P (Energy), while NTRA operates in Diagnostics & Research (Healthcare). Over the past 10 years, PVL returned 1.75%/yr vs 32.74%/yr for NTRA. At a 0.08 correlation, their price movements are largely independent.

Performance

PVL vs. NTRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permianville Royalty Trust (PVL) and Natera, Inc. (NTRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVL achieves a 2.40% return, which is significantly higher than NTRA's -0.13% return. Over the past 10 years, PVL has underperformed NTRA with an annualized return of 1.75%, while NTRA has yielded a comparatively higher 32.74% annualized return.

PVL

• 1D: -0.56%
• 1M: -8.00%
• YTD: 2.40%
• 6M: 4.87%
• 1Y: 5.86%
• 3Y*: -2.49%
• 5Y*: 9.02%
• 10Y*: 1.75%

NTRA

• 1D: -1.13%
• 1M: 12.60%
• YTD: -0.13%
• 6M: -2.87%
• 1Y: 33.13%
• 3Y*: 64.53%
• 5Y*: 14.76%
• 10Y*: 32.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PVL vs. NTRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PVL Permianville Royalty Trust	2.40%	42.17%	-0.62%	-50.32%	81.37%	205.27%	-56.49%	10.22%	-32.22%	-3.06%
NTRA Natera, Inc.	-0.13%	44.72%	152.71%	55.94%	-56.99%	-6.16%	195.40%	141.33%	55.28%	-23.23%

Correlation

The correlation between PVL and NTRA is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jul 2, 2015	0.08

Fundamentals

EPS PVL : $0.14 NTRA : -$1.64
PS Ratio PVL : 9.44 NTRA : 12.62
Total Revenue (TTM) PVL : $4.69M NTRA : $2.50B
Gross Profit (TTM) PVL : $4.28M NTRA : $1.63B
EBITDA (TTM) PVL : $3.49M NTRA : -$294.86M

Return for Risk

PVL vs. NTRA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PVL

PVL Risk / Return Rank: 48
PVL Sharpe Ratio Rank: 49
PVL Sortino Ratio Rank: 44
PVL Omega Ratio Rank: 43
PVL Calmar Ratio Rank: 52
PVL Martin Ratio Rank: 53

NTRA

NTRA Risk / Return Rank: 64
NTRA Sharpe Ratio Rank: 67
NTRA Sortino Ratio Rank: 62
NTRA Omega Ratio Rank: 60
NTRA Calmar Ratio Rank: 66
NTRA Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PVL vs. NTRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permianville Royalty Trust (PVL) and Natera, Inc. (NTRA). 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.

	PVL	NTRA	Difference
Sharpe ratio: Return per unit of total volatility	0.19	0.77	-0.59
Sortino ratio: Return per unit of downside risk	0.52	1.25	-0.74
Omega ratio: Gain probability vs. loss probability	1.06	1.16	-0.09
Calmar ratio: Return relative to maximum drawdown	0.41	1.18	-0.77
Martin ratio: Return relative to average drawdown	0.94	2.46	-1.52

PVL vs. NTRA - Sharpe Ratio Comparison

The current PVL Sharpe Ratio is 0.19, which is lower than the NTRA Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of PVL and NTRA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PVL vs. NTRA - Drawdown Comparison

The maximum PVL drawdown since its inception was -95.05%, which is greater than NTRA's maximum drawdown of -77.74%. Use the drawdown chart below to compare losses from any high point for PVL and NTRA.

Drawdown Indicators

	PVL	NTRA	Difference
Max Drawdown Largest peak-to-trough decline	-95.05%	-77.74%	-17.31%
Max Drawdown (1Y) Largest decline over 1 year	-14.52%	-28.20%	+13.68%
Max Drawdown (3Y) Largest decline over 3 years	-63.42%	-39.94%	-23.48%
Max Drawdown (5Y) Largest decline over 5 years	-77.24%	-77.74%	+0.50%
Max Drawdown (10Y) Largest decline over 10 years	-85.54%	-77.74%	-7.80%
Current Drawdown Current decline from peak	-69.33%	-10.06%	-59.27%
Average Drawdown Average peak-to-trough decline	-63.63%	-33.39%	-30.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.23%	13.51%	-7.28%

Volatility

PVL vs. NTRA - Volatility Comparison

The current volatility for Permianville Royalty Trust (PVL) is 7.63%, while Natera, Inc. (NTRA) has a volatility of 12.48%. This indicates that PVL experiences smaller price fluctuations and is considered to be less risky than NTRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVL	NTRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	12.48%	-4.85%
Volatility (6M) Calculated over the trailing 6-month period	23.36%	35.44%	-12.08%
Volatility (1Y) Calculated over the trailing 1-year period	31.43%	43.16%	-11.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.72%	57.03%	-6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.71%	60.82%	-5.11%

Dividends

PVL vs. NTRA - Dividend Comparison

PVL's dividend yield for the trailing twelve months is around 9.78%, while NTRA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NTRA Natera, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PVL Permianville Royalty Trust	9.78%	7.20%	6.29%	25.67%	13.18%	5.66%	18.35%	16.57%	22.27%	6.61%	6.63%	15.66%

Financials

Frequently Asked Questions

Can I hold both PVL and NTRA in my portfolio?

PVL and NTRA have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVL or NTRA?

NTRA has higher volatility (12.48%) compared to PVL (7.63%). In terms of maximum drawdown, PVL dropped -95.05% vs NTRA's -77.74%.

Which has better risk-adjusted returns?

NTRA currently has the higher Sharpe Ratio (0.77 vs 0.19), 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.