ARAY vs RMT: Correlation
Accuray Incorporated (ARAY) and Royce Micro-Cap Trust, Inc. (RMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARAY and RMT?
Over the past 3 years, ARAY and RMT moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 658.5 %².
Few assets follow ARAY as closely as RMT, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 131.7 percentage points (-83.3% for ARAY against +48.4% for RMT). One caveat on sizing: ARAY is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ARAY vs RMT: side by side
| ARAY (Accuray Incorporated) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -83.3% | +48.4% |
| 5-year return | -93.4% | +80.1% |
| Volatility (ann.) | 73.2% | 20.5% |
| Beta vs S&P 500 | 1.77 | 1.09 |
| Max drawdown (3Y) | -92.5% | -26.4% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARAY | RMT |
|---|---|---|
| 2022 | -56.2% | -16.8% |
| 2023 | +35.4% | +15.8% |
| 2024 | -30.0% | +14.0% |
| 2025 | -58.6% | +16.1% |
| 2026 | -68.0% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARAY and RMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ARAY and RMT?
As of 2026-08-27, the correlation of weekly returns between ARAY and RMT is 0.44 over 3 years, 0.35 over 1 year and 0.45 over 5 years.
Is RMT a good diversifier for ARAY?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARAY correlations · RMT correlations
