BOOM vs NUE: Correlation
DMC Global Inc. (BOOM) and Nucor (NUE) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOOM and NUE?
Across a 3-year window, the weekly returns of BOOM and NUE correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives 0.33, with an annualized covariance of 831.8 %².
Within BOOM's tracked universe of 10 assets, NUE comes in at #5 by 3-year correlation. The last year tells two different stories: NUE led by 63.4 percentage points, +6.7% for BOOM against +70.1% for NUE. One caveat on sizing: BOOM is 1.8 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.
BOOM vs NUE: side by side
| BOOM (DMC Global Inc.) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +6.7% | +70.1% |
| 5-year return | -82.6% | +124.6% |
| Volatility (ann.) | 60.2% | 33.3% |
| Beta vs S&P 500 | 1.12 | 1.08 |
| Max drawdown (3Y) | -82.3% | -47.8% |
| Market cap | $0.1B | $57.3B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | BOOM | NUE |
|---|---|---|
| 2022 | -50.9% | +17.4% |
| 2023 | -3.2% | +33.8% |
| 2024 | -60.9% | -32.0% |
| 2025 | -9.0% | +42.0% |
| 2026 | +4.5% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOOM and NUE good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BOOM and NUE?
As of 2026-08-27, the correlation of weekly returns between BOOM and NUE is 0.41 over 3 years, 0.40 over 1 year and 0.33 over 5 years.
Is NUE a good diversifier for BOOM?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/boom-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/boom-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOOM correlations · NUE correlations
