ASTL vs RVT: Correlation
How closely do Algoma Steel Group Inc. (ASTL) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTL and RVT?
On 3 years of weekly data the ASTL/RVT correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 482.0 %².
Within ASTL's tracked universe of 10 assets, RVT comes in at #4 by 3-year correlation. The last year tells two different stories: RVT led by 40.4 percentage points, -13.0% for ASTL against +27.4% for RVT. One caveat on sizing: ASTL is 2.8 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 RVT: side by side
| ASTL (Algoma Steel Group Inc.) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -13.0% | +27.4% |
| 5-year return | -57.3% | +53.9% |
| Volatility (ann.) | 53.9% | 19.1% |
| Beta vs S&P 500 | 1.08 | 0.99 |
| Max drawdown (3Y) | -72.9% | -23.5% |
| Market cap | $0.5B | $2.3B |
| P/E (trailing) | – | 6.5 |
| Dividend yield | 0.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTL | RVT |
|---|---|---|
| 2022 | -39.4% | -26.3% |
| 2023 | +62.5% | +18.8% |
| 2024 | -0.2% | +17.9% |
| 2025 | -57.4% | +11.5% |
| 2026 | +4.6% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTL and RVT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASTL and RVT?
As of 2026-08-27, the correlation of weekly returns between ASTL and RVT is 0.47 over 3 years, 0.48 over 1 year and 0.43 over 5 years.
Is RVT a good diversifier for ASTL?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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/astl-vs-rvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/astl-vs-rvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASTL correlations · RVT correlations
