SJT vs. UAN

Last updated Jun 3, 2026

SJT (San Juan Basin Royalty Trust) and UAN (CVR Partners, LP) are both stocks. SJT operates in Oil & Gas E&P (Energy), while UAN operates in Agricultural Inputs (Basic Materials). Over the past 10 years, SJT returned 1.07%/yr vs 12.30%/yr for UAN. At a 0.19 correlation, their price movements are largely independent.

Performance

SJT vs. UAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in San Juan Basin Royalty Trust (SJT) and CVR Partners, LP (UAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SJT achieves a -32.03% return, which is significantly lower than UAN's 20.90% return. Over the past 10 years, SJT has underperformed UAN with an annualized return of 1.07%, while UAN has yielded a comparatively higher 12.30% annualized return.

SJT

• 1D: -0.52%
• 1M: -12.39%
• YTD: -32.03%
• 6M: -30.80%
• 1Y: -41.95%
• 3Y*: -21.74%
• 5Y*: 0.77%
• 10Y*: 1.07%

UAN

• 1D: -0.37%
• 1M: -3.55%
• YTD: 20.90%
• 6M: 30.71%
• 1Y: 62.56%
• 3Y*: 26.37%
• 5Y*: 32.88%
• 10Y*: 12.30%

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

SJT vs. UAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SJT San Juan Basin Royalty Trust	-32.03%	46.74%	-22.92%	-50.02%	120.63%	163.80%	11.80%	-45.15%	-38.19%	39.22%
UAN CVR Partners, LP	20.90%	54.09%	27.18%	-13.80%	43.68%	452.88%	-48.32%	1.48%	3.66%	-45.19%

Correlation

The correlation between SJT and UAN is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 11, 2011	0.19

The correlation between SJT and UAN shifts across timeframes, from 0.15 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS SJT : -$0.01 UAN : $11.49
PS Ratio SJT : 36.59K UAN : 1.96
Total Revenue (TTM) SJT : $3.65K UAN : $643.22M
Gross Profit (TTM) SJT : $3.65K UAN : $133.57M
EBITDA (TTM) SJT : -$2.45K UAN : $266.31M

Return for Risk

SJT vs. UAN — Risk / Return Rank

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

SJT

SJT Risk / Return Rank: 4
SJT Sharpe Ratio Rank: 2
SJT Sortino Ratio Rank: 3
SJT Omega Ratio Rank: 5
SJT Calmar Ratio Rank: 6
SJT Martin Ratio Rank: 1

UAN

UAN Risk / Return Rank: 82
UAN Sharpe Ratio Rank: 82
UAN Sortino Ratio Rank: 77
UAN Omega Ratio Rank: 82
UAN Calmar Ratio Rank: 84
UAN Martin Ratio Rank: 87

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.

SJT vs. UAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for San Juan Basin Royalty Trust (SJT) and CVR Partners, LP (UAN). 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.

	SJT	UAN	Difference
Sharpe ratio Return per unit of total volatility	-1.18	1.56	-2.74
Sortino ratio Return per unit of downside risk	-1.77	2.15	-3.91
Omega ratio Gain probability vs. loss probability	0.80	1.33	-0.53
Calmar ratio Return relative to maximum drawdown	-0.89	3.33	-4.22
Martin ratio Return relative to average drawdown	-1.84	10.57	-12.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SJT vs. UAN - Sharpe Ratio Comparison

The current SJT Sharpe Ratio is -1.18, which is lower than the UAN Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of SJT and UAN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SJT	UAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.18	1.56	-2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	0.78	-0.76
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.23	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.13	+0.02

Drawdowns

SJT vs. UAN - Drawdown Comparison

The maximum SJT drawdown since its inception was -92.82%, roughly equal to the maximum UAN drawdown of -96.77%. Use the drawdown chart below to compare losses from any high point for SJT and UAN.

Drawdown Indicators

	SJT	UAN	Difference
Max Drawdown Largest peak-to-trough decline	-92.82%	-96.77%	+3.95%
Max Drawdown (1Y) Largest decline over 1 year	-44.07%	-18.77%	-25.30%
Max Drawdown (3Y) Largest decline over 3 years	-60.59%	-28.52%	-32.07%
Max Drawdown (5Y) Largest decline over 5 years	-73.47%	-49.19%	-24.28%
Max Drawdown (10Y) Largest decline over 10 years	-81.54%	-92.85%	+11.31%
Current Drawdown Current decline from peak	-73.27%	-11.18%	-62.09%
Average Drawdown Average peak-to-trough decline	-37.63%	-47.61%	+9.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.25%	5.92%	+15.33%

Volatility

SJT vs. UAN - Volatility Comparison

San Juan Basin Royalty Trust (SJT) and CVR Partners, LP (UAN) have volatilities of 12.37% and 12.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SJT	UAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.37%	12.77%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	23.73%	37.52%	-13.79%
Volatility (1Y) Calculated over the trailing 1-year period	35.96%	40.31%	-4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.23%	42.59%	+5.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.32%	54.75%	-5.43%

Dividends

SJT vs. UAN - Dividend Comparison

SJT has not paid dividends to shareholders, while UAN's dividend yield for the trailing twelve months is around 10.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SJT San Juan Basin Royalty Trust	0.00%	0.00%	2.89%	21.81%	14.58%	12.67%	5.96%	6.85%	8.03%	10.19%	5.05%	8.81%
UAN CVR Partners, LP	10.27%	11.63%	8.81%	40.64%	19.21%	5.62%	0.00%	12.90%	0.00%	0.61%	11.81%	15.61%

Financials

Frequently Asked Questions

Can I hold both SJT and UAN in my portfolio?

SJT and UAN have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SJT or UAN?

UAN has higher volatility (12.77%) compared to SJT (12.37%). In terms of maximum drawdown, SJT dropped -92.82% vs UAN's -96.77%.

Which has better risk-adjusted returns?

UAN currently has the higher Sharpe Ratio (1.56 vs -1.18), 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.