ALTG vs CMC: Correlation
Measured on weekly returns over the past three years, Alta Equipment Group Inc. (ALTG) and Commercial Metals Company (CMC) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTG and CMC?
Across a 3-year window, the weekly returns of ALTG and CMC correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 1226.2 %².
Within ALTG's tracked universe of 12 assets, CMC comes in at #5 by 3-year correlation. The last year tells two different stories: CMC led by 47.9 percentage points, -25.9% for ALTG against +22.0% for CMC. Risk is not evenly split, since ALTG carries 2.0 times the volatility of the other side.
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.
ALTG vs CMC: side by side
| ALTG (Alta Equipment Group Inc.) | CMC (Commercial Metals Company) | |
|---|---|---|
| 1-year return | -25.9% | +22.0% |
| 5-year return | -50.0% | +119.5% |
| Volatility (ann.) | 65.4% | 33.3% |
| Beta vs S&P 500 | 2.11 | 1.26 |
| Max drawdown (3Y) | -71.8% | -37.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 12.9 |
| Dividend yield | 0.00% | 1.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTG | CMC |
|---|---|---|
| 2022 | -9.1% | +35.0% |
| 2023 | -4.7% | +5.0% |
| 2024 | -45.5% | +0.4% |
| 2025 | -28.4% | +41.5% |
| 2026 | +34.3% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTG and CMC good diversifiers for each other?
Only partially. A correlation of 0.56 means ALTG and CMC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALTG and CMC?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.51 over the last year and 0.53 over 5 years.
Is CMC a good diversifier for ALTG?
Only partially. A correlation of 0.56 means ALTG and CMC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/altg-vs-cmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/altg-vs-cmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALTG correlations · CMC correlations
