CMC vs NUE: Correlation
Commercial Metals Company (CMC) and Nucor (NUE) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMC and NUE?
Over the past 3 years, CMC and NUE moved with a correlation of 0.74, which is strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.74 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 822.9 %².
Within CMC's tracked universe of 19 assets, NUE comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NUE outperformed by 48.1 percentage points (+22.0% for CMC against +70.1% for NUE).
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 NUE: side by side
| CMC (Commercial Metals Company) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +22.0% | +70.1% |
| 5-year return | +119.5% | +124.6% |
| Volatility (ann.) | 33.3% | 33.3% |
| Beta vs S&P 500 | 1.26 | 1.08 |
| Max drawdown (3Y) | -37.6% | -47.8% |
| Market cap | – | $57.3B |
| P/E (trailing) | 12.9 | 20.1 |
| Dividend yield | 1.08% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | CMC | NUE |
|---|---|---|
| 2022 | +35.0% | +17.4% |
| 2023 | +5.0% | +33.8% |
| 2024 | +0.4% | -32.0% |
| 2025 | +41.5% | +42.0% |
| 2026 | +0.2% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMC and NUE good diversifiers for each other?
Only partially. A correlation of 0.74 means CMC and NUE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CMC and NUE?
The CMC/NUE correlation stands at 0.74 on a 3-year window (1 year: 0.75, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is NUE a good diversifier for CMC?
Only partially. A correlation of 0.74 means CMC and NUE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 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-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmc-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMC correlations · NUE correlations
