SBR vs. PBT
SBR (Sabine Royalty Trust) and PBT (Permian Basin Royalty Trust) are both stocks. Both are in the Energy sector — SBR in Oil & Gas E&P, PBT in Oil & Gas Midstream. Over the past 10 years, SBR returned 17.05%/yr vs 20.05%/yr for PBT. At a 0.28 correlation, their price movements are largely independent.
Performance
SBR vs. PBT - Performance Comparison
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Returns By Period
In the year-to-date period, SBR achieves a 9.76% return, which is significantly lower than PBT's 51.40% return. Over the past 10 years, SBR has underperformed PBT with an annualized return of 17.05%, while PBT has yielded a comparatively higher 20.05% annualized return.
SBR
- 1D
- 1.09%
- 1M
- -4.58%
- YTD
- 9.76%
- 6M
- 9.50%
- 1Y
- 19.64%
- 3Y*
- 13.21%
- 5Y*
- 23.87%
- 10Y*
- 17.05%
PBT
- 1D
- 1.19%
- 1M
- -17.52%
- YTD
- 51.40%
- 6M
- 49.93%
- 1Y
- 116.28%
- 3Y*
- 7.69%
- 5Y*
- 42.01%
- 10Y*
- 20.05%
SBR vs. PBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBR Sabine Royalty Trust | 9.76% | 14.04% | 4.06% | -13.10% | 132.08% | 60.71% | -24.24% | 15.77% | -9.61% | 34.83% |
PBT Permian Basin Royalty Trust | 51.40% | 56.75% | -16.91% | -42.84% | 166.22% | 218.45% | -7.68% | -29.15% | -28.11% | 23.21% |
Correlation
The correlation between SBR and PBT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| 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, SBR and PBT have become more correlated (0.49) than their long-term average of 0.28, meaning their price movements have been converging.
Fundamentals
SBR:
$5.06
PBT:
$0.33
SBR:
14.44
PBT:
76.34
SBR:
0.87
PBT:
1.02
SBR:
13.85
PBT:
68.43
SBR:
$57.67M
PBT:
$13.06M
SBR:
$58.05M
PBT:
$13.06M
SBR:
$55.09M
PBT:
$11.70M
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Return for Risk
SBR vs. PBT — Risk / Return Rank
SBR
PBT
SBR vs. PBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sabine Royalty Trust (SBR) and Permian Basin Royalty Trust (PBT). 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.
| SBR | PBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.41 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 6.02 | -4.96 |
| Martin ratioReturn relative to average drawdown | 2.23 | 15.92 | -13.69 |
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Drawdowns
SBR vs. PBT - Drawdown Comparison
The maximum SBR drawdown since its inception was -56.40%, smaller than the maximum PBT drawdown of -83.17%. Use the drawdown chart below to compare losses from any high point for SBR and PBT.
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Drawdown Indicators
| SBR | PBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.40% | -83.17% | +26.77% |
Max Drawdown (1Y)Largest decline over 1 year | -18.54% | -19.42% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -18.54% | -62.52% | +43.98% |
Max Drawdown (5Y)Largest decline over 5 years | -34.56% | -65.05% | +30.49% |
Max Drawdown (10Y)Largest decline over 10 years | -50.71% | -73.87% | +23.16% |
Current DrawdownCurrent decline from peak | -7.17% | -17.52% | +10.35% |
Average DrawdownAverage peak-to-trough decline | -13.63% | -25.66% | +12.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.85% | 7.33% | +1.52% |
Volatility
SBR vs. PBT - Volatility Comparison
The current volatility for Sabine Royalty Trust (SBR) is 7.60%, while Permian Basin Royalty Trust (PBT) has a volatility of 16.21%. This indicates that SBR experiences smaller price fluctuations and is considered to be less risky than PBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBR | PBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.60% | 16.21% | -8.61% |
Volatility (6M)Calculated over the trailing 6-month period | 15.99% | 31.80% | -15.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.52% | 43.15% | -18.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.84% | 47.73% | -15.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.35% | 42.86% | -11.51% |
Dividends
SBR vs. PBT - Dividend Comparison
SBR's dividend yield for the trailing twelve months is around 6.59%, more than PBT's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBT Permian Basin Royalty Trust | 1.39% | 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 | 6.59% | 7.53% | 8.41% | 9.41% | 10.13% | 7.72% | 8.59% | 7.49% | 8.98% | 5.31% | 5.50% | 11.82% |
Financials
SBR vs. PBT - Financials Comparison
This section allows you to compare key financial metrics between Sabine Royalty Trust and Permian Basin 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
SBR and PBT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBT has higher volatility (16.21%) compared to SBR (7.60%). In terms of maximum drawdown, SBR dropped -56.40% vs PBT's -83.17%.
PBT currently has the higher Sharpe Ratio (2.71 vs 0.81), 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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