CF vs VMC: Correlation
How closely do CF Industries (CF) and Vulcan Materials Company (VMC) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and VMC?
Over the past 3 years, CF and VMC moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -192.3 %².
Among the 50 assets we track against CF, VMC ranks #44 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CF ahead by 53.8 points (+48.6% versus -5.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.50 to 0.29.
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.
CF vs VMC: side by side
| CF (CF Industries) | VMC (Vulcan Materials Company) | |
|---|---|---|
| 1-year return | +48.6% | -5.2% |
| 5-year return | +211.5% | +53.2% |
| Volatility (ann.) | 32.8% | 25.2% |
| Beta vs S&P 500 | -0.20 | 0.82 |
| Max drawdown (3Y) | -29.2% | -24.4% |
| Market cap | $19.0B | $35.5B |
| P/E (trailing) | 9.3 | 32.3 |
| Dividend yield | 1.59% | 0.74% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | CF | VMC |
|---|---|---|
| 2022 | +22.3% | -14.9% |
| 2023 | -4.7% | +30.8% |
| 2024 | +10.1% | +14.1% |
| 2025 | -7.2% | +11.7% |
| 2026 | +64.9% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and VMC good diversifiers for each other?
Yes. With a correlation of -0.23, CF and VMC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CF and VMC?
As of 2026-08-27, the correlation of weekly returns between CF and VMC is -0.23 over 3 years, -0.52 over 1 year and -0.03 over 5 years.
Is VMC a good diversifier for CF?
Yes. With a correlation of -0.23, CF and VMC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/cf-vs-vmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cf-vs-vmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CF correlations · VMC correlations
