ALB vs STLD: Correlation
Albemarle Corporation (ALB) and Steel Dynamics (STLD) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALB and STLD?
On 3 years of weekly data the ALB/STLD correlation comes out at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.38). The 5-year figure is 0.40, and annualized covariance runs at 713.5 %².
Among the 36 assets we track against ALB, STLD ranks #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STLD ahead by 22.9 points (+56.9% versus +79.8%). The rolling one-year correlation moved between 0.23 and 0.59 over the past three years, a moderate range. Note the risk asymmetry: ALB runs 1.6 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.
ALB vs STLD: side by side
| ALB (Albemarle Corporation) | STLD (Steel Dynamics) | |
|---|---|---|
| 1-year return | +56.9% | +79.8% |
| 5-year return | -39.2% | +262.0% |
| Volatility (ann.) | 54.3% | 34.5% |
| Beta vs S&P 500 | 1.62 | 1.13 |
| Max drawdown (3Y) | -74.1% | -28.7% |
| Market cap | $16.0B | $33.8B |
| P/E (trailing) | 502.9 | 21.4 |
| Dividend yield | 1.20% | 0.87% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | ALB | STLD |
|---|---|---|
| 2022 | -6.6% | +60.1% |
| 2023 | -32.8% | +22.8% |
| 2024 | -39.5% | -2.0% |
| 2025 | +67.7% | +50.7% |
| 2026 | -3.5% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALB and STLD good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALB and STLD?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.18 over the last year and 0.40 over 5 years.
Is STLD a good diversifier for ALB?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alb-vs-stld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alb-vs-stld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALB correlations · STLD correlations
