AGRO vs VMC: Correlation
Adecoagro S.A. (AGRO) and Vulcan Materials Company (VMC) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and VMC?
Across a 3-year window, the weekly returns of AGRO and VMC correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.22 over 3. Stretching to 5 years gives -0.05, with an annualized covariance of -231.0 %².
Among the 36 assets we track against AGRO, VMC ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AGRO outperformed by 33.3 percentage points (+28.1% for AGRO against -5.2% for VMC). Note the risk asymmetry: AGRO runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AGRO vs VMC: side by side
| AGRO (Adecoagro S.A.) | VMC (Vulcan Materials Company) | |
|---|---|---|
| 1-year return | +28.1% | -5.2% |
| 5-year return | +29.1% | +53.2% |
| Volatility (ann.) | 41.7% | 25.2% |
| Beta vs S&P 500 | -0.27 | 0.82 |
| Max drawdown (3Y) | -41.3% | -24.4% |
| Market cap | $1.5B | $35.5B |
| P/E (trailing) | 28.9 | 32.3 |
| Dividend yield | 0.00% | 0.74% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | AGRO | VMC |
|---|---|---|
| 2022 | +11.5% | -14.9% |
| 2023 | +38.6% | +30.8% |
| 2024 | -12.4% | +14.1% |
| 2025 | -14.3% | +11.7% |
| 2026 | +36.0% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and VMC good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGRO and VMC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.28 over the last year and -0.05 over 5 years.
Is VMC a good diversifier for AGRO?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AGRO correlations · VMC correlations
