CMC vs MTUS: Correlation
How closely do Commercial Metals Company (CMC) and Metallus Inc. (MTUS) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMC and MTUS?
Across a 3-year window, the weekly returns of CMC and MTUS correlate at 0.65, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.65 over 3. Stretching to 5 years gives 0.62, with an annualized covariance of 874.6 %².
By 3-year correlation, MTUS places #7 of the 19 assets tracked against CMC. Their 12-month results are close: +22.0% for CMC against +20.2% for MTUS.
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.
CMC vs MTUS: side by side
| CMC (Commercial Metals Company) | MTUS (Metallus Inc.) | |
|---|---|---|
| 1-year return | +22.0% | +20.2% |
| 5-year return | +119.5% | +40.6% |
| Volatility (ann.) | 33.3% | 40.3% |
| Beta vs S&P 500 | 1.26 | 1.20 |
| Max drawdown (3Y) | -37.6% | -52.7% |
| Market cap | – | $0.8B |
| P/E (trailing) | 12.9 | 99.5 |
| Dividend yield | 1.08% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMC | MTUS |
|---|---|---|
| 2022 | +35.0% | +10.1% |
| 2023 | +5.0% | +29.1% |
| 2024 | +0.4% | -39.7% |
| 2025 | +41.5% | +21.4% |
| 2026 | +0.2% | +16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMC and MTUS good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMC and MTUS?
As of 2026-08-27, the correlation of weekly returns between CMC and MTUS is 0.65 over 3 years, 0.66 over 1 year and 0.62 over 5 years.
Is MTUS a good diversifier for CMC?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 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/cmc-vs-mtus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmc-vs-mtus/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMC correlations · MTUS correlations
