CLOV vs RMT: Correlation
How closely do Clover Health Investments, Corp. (CLOV) and Royce Micro-Cap Trust, Inc. (RMT) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLOV and RMT?
Across a 3-year window, the weekly returns of CLOV and RMT correlate at 0.39, moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.39). Stretching to 5 years gives 0.43, with an annualized covariance of 619.3 %².
RMT is one of the assets that tracks CLOV most closely: it ranks #2 out of the 10 assets we track against CLOV. The trailing year gives CLOV the advantage: +57.2% versus +48.4%, a 8.8-point spread. Risk is not evenly split, since CLOV carries 3.8 times the volatility of the other side.
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.
CLOV vs RMT: side by side
| CLOV (Clover Health Investments, Corp.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +57.2% | +48.4% |
| 5-year return | -50.1% | +80.1% |
| Volatility (ann.) | 77.7% | 20.5% |
| Beta vs S&P 500 | 1.73 | 1.09 |
| Max drawdown (3Y) | -64.7% | -26.4% |
| Market cap | $2.2B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLOV | RMT |
|---|---|---|
| 2022 | -75.0% | -16.8% |
| 2023 | +2.4% | +15.8% |
| 2024 | +230.9% | +14.0% |
| 2025 | -25.4% | +16.1% |
| 2026 | +80.0% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLOV and RMT good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLOV and RMT?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.56 over the last year and 0.43 over 5 years.
Is RMT a good diversifier for CLOV?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/clov-vs-rmt.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLOV correlations · RMT correlations
