BP vs MLM: Correlation
How closely do BP p.l.c. (BP) and Martin Marietta Materials (MLM) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and MLM?
On 3 years of weekly data the BP/MLM correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.20 over 3 years. The 5-year figure is -0.02, and annualized covariance runs at -126.2 %².
Within BP's tracked universe of 26 assets, MLM comes in at #16 by 3-year correlation. The last year tells two different stories: BP led by 41.4 percentage points, +27.6% for BP against -13.8% for MLM.
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.
BP vs MLM: side by side
| BP (BP p.l.c.) | MLM (Martin Marietta Materials) | |
|---|---|---|
| 1-year return | +27.6% | -13.8% |
| 5-year return | +119.9% | +42.4% |
| Volatility (ann.) | 26.6% | 23.9% |
| Beta vs S&P 500 | 0.06 | 0.85 |
| Max drawdown (3Y) | -30.6% | -26.8% |
| Market cap | $109.0B | $37.5B |
| P/E (trailing) | 20.3 | 34.4 |
| Dividend yield | 0.79% | 0.62% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | BP | MLM |
|---|---|---|
| 2022 | +37.0% | -22.7% |
| 2023 | +6.0% | +48.6% |
| 2024 | -11.8% | +4.1% |
| 2025 | +24.5% | +21.3% |
| 2026 | +26.4% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and MLM good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between BP and MLM?
The BP/MLM correlation stands at -0.20 on a 3-year window (1 year: -0.48, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is MLM a good diversifier for BP?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/bp-vs-mlm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bp-vs-mlm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BP correlations · MLM correlations
