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3.04 0.04 (1.33%) 09/16/2026
San Juan Basin Royalty Trust (SJT)
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Historical Price Distribution Analysis
Positive vs Negative Occurrences
Positive Occurance44.80%
Negative Occurance50.40%
Ratio0.89
Average Up/Down Moves
Average Positive Move2.08%
Average Negative Move-1.92%
Ratio-1.09
Maximum Up/Down Moves
Largest Positive Move10.66%
Largest Negative Move-7.79%
Ratio-1.37



Intervals Distribution Statistics
Most Recent intervals return of -1.32% ranks in the 31th percentile — within its typical range.
Central Tendency & Dispersion
Mean Return-0.04%
Median Return-0.22%
Std Dev (Volatility)2.68%
Observations119
Distribution Shape
Skewness0.35
Excess Kurtosis2.21
Jarque-Bera26.6 (non-normal)
Positively skewed (longer right tail).
Fat-tailed — outliers more likely than normal.
Tail Risk & Expectancy
Value at Risk (95%)-3.96%
Value at Risk (99%)-6.83%
Expected Shortfall (CVaR 95%)-5.90%
Expectancy / Period-0.04%

Percentile Band
5th 25th Median 75th 95th
-3.96% -1.62% -0.22% 1.77% 3.44%
90% of intervals returns fall between -3.96% and 3.44%.

Key Observations
SJT posted 119 intervals returns averaging -0.04% (median -0.22%) with a 2.68% standard deviation. The distribution is positively skewed (longer right tail) with fatter-than-normal tails (elevated outlier risk), and a Jarque-Bera test classifies it as non-normal — lean on percentiles rather than σ to size risk. Positive periods occurred 47.1% of the time, giving an expectancy of -0.04% per period. In the worst 5% of periods, returns fell below -3.96%, averaging -5.90% (Expected Shortfall). The most recent move of -1.32% ranks in the 31th percentile — within its typical range.







Top 10 Negative Returns
DateReturns (%)
29-Jun | 30-Jun-2026-7.79
19-Aug | 20-Aug-2026-6.90
08-May | 11-May-2026-6.55
22-Oct | 23-Oct-2025-5.25
30-Sep | 01-Oct-2025-4.58
02-Dec | 03-Dec-2025-4.33
11-Aug | 12-Aug-2026-3.91
18-Mar | 19-Mar-2026-3.73
03-Nov | 04-Nov-2025-3.67
04-Sep | 08-Sep-2026-3.58
Top 10 Positive Returns
DateReturns (%)
20-Jul | 21-Jul-202610.66
08-Jun | 09-Jun-20267.78
04-May | 05-May-20266.06
04-Jun | 05-Jun-20265.69
16-Jun | 17-Jun-20264.10
12-Jun | 15-Jun-20263.75
08-Jul | 09-Jul-20263.40
30-Jan | 02-Feb-20263.24
25-Aug | 26-Aug-20263.17
10-Dec | 11-Dec-20253.08


Intervals Negative Returns Intervals Positive Returns
Return% Occurance# OccuranceReturn% Occurance# Occurance
below 0.0% 20.63 13 above 0.0% 12.50 7
below -0.5% 17.46 11 above 0.5% 21.43 12
below -1.0% 9.52 6 above 1.0% 10.71 6
below -1.5% 19.05 12 above 1.5% 14.29 8
below -2.0% 7.94 5 above 2.0% 12.50 7
below -2.5% 4.76 3 above 2.5% 10.71 6
below -3.0% 4.76 3 above 3.0% 7.14 4
below -3.5% 6.35 4 above 3.5% 1.79 1
below -4.0% 1.59 1 above 4.0% 1.79 1
below -4.5% 1.59 1 above 4.5%
below -5.0% 1.59 1 above 5.0% 1.79 1
below -6.0% 3.17 2 above 6.0% 1.79 1
below -7.0% 1.59 1 above 7.0% 1.79 1
below -8.0% above 8.0%
below -9.0% above 9.0%
below -10.0% above 10.0% 1.79 1

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