AA vs SCCO: Correlation
Measured on weekly returns over the past three years, Alcoa Corporation (AA) and Southern Copper Corporation (SCCO) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AA and SCCO?
On 3 years of weekly data the AA/SCCO correlation comes out at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.58). The 5-year figure is 0.64, and annualized covariance runs at 1191.2 %².
By 3-year correlation, SCCO places #5 of the 12 assets tracked against AA. Correlation aside, the last 12 months split them widely, with SCCO ahead by 72.3 points (+62.2% versus +134.5%).
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 SCCO: side by side
| AA (Alcoa Corporation) | SCCO (Southern Copper Corporation) | |
|---|---|---|
| 1-year return | +62.2% | +134.5% |
| 5-year return | +22.3% | +339.2% |
| Volatility (ann.) | 50.8% | 40.8% |
| Beta vs S&P 500 | 1.71 | 1.32 |
| Max drawdown (3Y) | -52.3% | -39.7% |
| Market cap | $13.5B | $182.6B |
| P/E (trailing) | 10.3 | 32.0 |
| Dividend yield | 0.80% | 1.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AA | SCCO |
|---|---|---|
| 2022 | -23.1% | +4.2% |
| 2023 | -24.3% | +50.0% |
| 2024 | +12.4% | +9.4% |
| 2025 | +42.5% | +66.5% |
| 2026 | -3.2% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AA and SCCO good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AA and SCCO?
As of 2026-08-27, the correlation of weekly returns between AA and SCCO is 0.58 over 3 years, 0.44 over 1 year and 0.64 over 5 years.
Is SCCO a good diversifier for AA?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aa-vs-scco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aa-vs-scco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AA correlations · SCCO correlations
