AA vs ALB: Correlation
Measured on weekly returns over the past three years, Alcoa Corporation (AA) and Albemarle Corporation (ALB) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AA and ALB?
Across a 3-year window, the weekly returns of AA and ALB correlate at 0.50, moderate. The past 12 months show a weaker link (0.34) than the 3-year average (0.50). Stretching to 5 years gives 0.46, with an annualized covariance of 1368.2 %².
Among the 12 assets we track against AA, ALB ranks #6 by 3-year correlation. The trailing year gives AA the advantage: +62.2% versus +56.9%, a 5.3-point spread.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AA vs ALB: side by side
| AA (Alcoa Corporation) | ALB (Albemarle Corporation) | |
|---|---|---|
| 1-year return | +62.2% | +56.9% |
| 5-year return | +22.3% | -39.2% |
| Volatility (ann.) | 50.8% | 54.3% |
| Beta vs S&P 500 | 1.71 | 1.62 |
| Max drawdown (3Y) | -52.3% | -74.1% |
| Market cap | $13.5B | $16.0B |
| P/E (trailing) | 10.3 | 502.9 |
| Dividend yield | 0.80% | 1.20% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | AA | ALB |
|---|---|---|
| 2022 | -23.1% | -6.6% |
| 2023 | -24.3% | -32.8% |
| 2024 | +12.4% | -39.5% |
| 2025 | +42.5% | +67.7% |
| 2026 | -3.2% | -3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AA and ALB good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AA and ALB?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.34 over the last year and 0.46 over 5 years.
Is ALB a good diversifier for AA?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aa-vs-alb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aa-vs-alb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AA correlations · ALB correlations
