ASIX vs MUSA: Correlation
Measured on weekly returns over the past three years, AdvanSix Inc. (ASIX) and Murphy USA Inc. (MUSA) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASIX and MUSA?
Over the past 3 years, ASIX and MUSA moved with a correlation of 0.31, which is moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 477.3 %².
Within ASIX's tracked universe of 11 assets, MUSA comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MUSA ahead by 53.8 points (-18.5% versus +35.3%).
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.
ASIX vs MUSA: side by side
| ASIX (AdvanSix Inc.) | MUSA (Murphy USA Inc.) | |
|---|---|---|
| 1-year return | -18.5% | +35.3% |
| 5-year return | -49.2% | +234.8% |
| Volatility (ann.) | 45.7% | 33.7% |
| Beta vs S&P 500 | 0.50 | 0.06 |
| Max drawdown (3Y) | -55.2% | -35.5% |
| Market cap | $0.4B | $9.4B |
| P/E (trailing) | – | 16.3 |
| Dividend yield | 3.87% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASIX | MUSA |
|---|---|---|
| 2022 | -18.5% | +41.0% |
| 2023 | -19.7% | +28.2% |
| 2024 | -2.7% | +41.3% |
| 2025 | -37.3% | -19.1% |
| 2026 | -3.0% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASIX and MUSA good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASIX and MUSA?
The ASIX/MUSA correlation stands at 0.31 on a 3-year window (1 year: 0.37, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is MUSA a good diversifier for ASIX?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asix-vs-musa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asix-vs-musa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASIX correlations · MUSA correlations
