CMC vs WS: Correlation
Commercial Metals Company (CMC) and Worthington Steel, Inc. (WS) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMC and WS?
Over the past 3 years, CMC and WS moved with a correlation of 0.71, which is strong. Recent behaviour matches the longer record: 0.79 over 1 year against 0.71 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1189.2 %².
Among the 19 assets we track against CMC, WS ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CMC ahead by 17.2 points (+22.0% versus +4.8%). Risk is not evenly split, since WS carries 1.5 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.
CMC vs WS: side by side
| CMC (Commercial Metals Company) | WS (Worthington Steel, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | +4.8% |
| 5-year return | +119.5% | n/a |
| Volatility (ann.) | 33.3% | 51.2% |
| Beta vs S&P 500 | 1.26 | 1.67 |
| Max drawdown (3Y) | -37.6% | -51.0% |
| Market cap | – | $1.7B |
| P/E (trailing) | 12.9 | 201.9 |
| Dividend yield | 1.08% | 1.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMC | WS |
|---|---|---|
| 2022 | +35.0% | – |
| 2023 | +5.0% | – |
| 2024 | +0.4% | +15.4% |
| 2025 | +41.5% | +11.2% |
| 2026 | +0.2% | -0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMC and WS good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMC and WS?
As of 2026-08-27, the correlation of weekly returns between CMC and WS is 0.71 over 3 years, 0.79 over 1 year and n/a over 5 years.
Is WS a good diversifier for CMC?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/cmc-vs-ws.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmc-vs-ws/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMC correlations · WS correlations
