Species, provenances and even individual trees are known to differ in stem volume yield capacity, even when grown on the same site. Increased knowledge of the fundamental mechanisms for different productivity is essential for the success of breeding research and for the maximization of yield. Genetically homogeneous tree materials were selected on the basis of expected differences in stem volume yield capacity and trees were sampled and destructively analysed. The hypothesis to be tested was that yield capacity is correlated to certain traits of trees. High correlations with stem volume yield capacity were shown for harvest index, needle‐use efficiency and mineral‐nutrient‐use efficiency. Only weak correlations were shown for needle longevity and nitrogen concentration in needles. Also, indications were found that phenotypic plasticity was correlated positively to stem volume growth capacity. An attempt to correlate the ability to retranslocate nitrogen from dying needles with yield capacity failed.