CNR vs METC: Correlation
How closely do Core Natural Resources, Inc. (CNR) and Ramaco Resources, Inc. (METC) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNR and METC?
Over the past 3 years, CNR and METC moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1823.9 %².
By 3-year correlation, METC places #4 of the 13 assets tracked against CNR. The last year tells two different stories: CNR led by 85.4 percentage points, +40.3% for CNR against -45.1% for METC. Note the risk asymmetry: METC runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CNR vs METC: side by side
| CNR (Core Natural Resources, Inc.) | METC (Ramaco Resources, Inc.) | |
|---|---|---|
| 1-year return | +40.3% | -45.1% |
| 5-year return | +395.6% | +83.2% |
| Volatility (ann.) | 43.9% | 86.1% |
| Beta vs S&P 500 | 0.53 | 1.13 |
| Max drawdown (3Y) | -52.1% | -83.7% |
| Market cap | $5.0B | $0.9B |
| P/E (trailing) | 49.3 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNR | METC |
|---|---|---|
| 2022 | +195.5% | -33.0% |
| 2023 | +60.7% | +105.9% |
| 2024 | +6.6% | -37.9% |
| 2025 | -16.6% | +77.9% |
| 2026 | +15.1% | -22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNR and METC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNR and METC?
As of 2026-08-27, the correlation of weekly returns between CNR and METC is 0.48 over 3 years, 0.48 over 1 year and 0.49 over 5 years.
Is METC a good diversifier for CNR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnr-vs-metc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnr-vs-metc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNR correlations · METC correlations
