ASTL vs CMC: Correlation
Algoma Steel Group Inc. (ASTL) and Commercial Metals Company (CMC) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTL and CMC?
On 3 years of weekly data the ASTL/CMC correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.46, and annualized covariance runs at 847.0 %².
In ASTL's tracked universe of 10 assets, CMC sits right near the top at #2. Correlation aside, the last 12 months split them widely, with CMC ahead by 35.0 points (-13.0% versus +22.0%). Risk is not evenly split, since ASTL carries 1.6 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.
ASTL vs CMC: side by side
| ASTL (Algoma Steel Group Inc.) | CMC (Commercial Metals Company) | |
|---|---|---|
| 1-year return | -13.0% | +22.0% |
| 5-year return | -57.3% | +119.5% |
| Volatility (ann.) | 53.9% | 33.3% |
| Beta vs S&P 500 | 1.08 | 1.26 |
| Max drawdown (3Y) | -72.9% | -37.6% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | 12.9 |
| Dividend yield | 0.02% | 1.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTL | CMC |
|---|---|---|
| 2022 | -39.4% | +35.0% |
| 2023 | +62.5% | +5.0% |
| 2024 | -0.2% | +0.4% |
| 2025 | -57.4% | +41.5% |
| 2026 | +4.6% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTL and CMC good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASTL and CMC?
The ASTL/CMC correlation stands at 0.47 on a 3-year window (1 year: 0.50, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is CMC a good diversifier for ASTL?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/astl-vs-cmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/astl-vs-cmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASTL correlations · CMC correlations
