ASTL vs RMT: Correlation
Algoma Steel Group Inc. (ASTL) and Royce Micro-Cap Trust, Inc. (RMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTL and RMT?
Over the past 3 years, ASTL and RMT moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 537.7 %².
RMT is one of the assets that tracks ASTL most closely: it ranks #1 out of the 10 assets we track against ASTL. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 61.4 percentage points (-13.0% for ASTL against +48.4% for RMT). One caveat on sizing: ASTL is 2.6 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.
ASTL vs RMT: side by side
| ASTL (Algoma Steel Group Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -13.0% | +48.4% |
| 5-year return | -57.3% | +80.1% |
| Volatility (ann.) | 53.9% | 20.5% |
| Beta vs S&P 500 | 1.08 | 1.09 |
| Max drawdown (3Y) | -72.9% | -26.4% |
| Market cap | $0.5B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.02% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTL | RMT |
|---|---|---|
| 2022 | -39.4% | -16.8% |
| 2023 | +62.5% | +15.8% |
| 2024 | -0.2% | +14.0% |
| 2025 | -57.4% | +16.1% |
| 2026 | +4.6% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTL and RMT good diversifiers for each other?
Reasonably. At 0.49, ASTL and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASTL and RMT?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.54 over the last year and 0.46 over 5 years.
Is RMT a good diversifier for ASTL?
Reasonably. At 0.49, ASTL and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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: ASTL correlations · RMT correlations
