DGICB vs METC: Correlation
Donegal Group, Inc. (DGICB) and Ramaco Resources, Inc. (METC) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICB and METC?
Over the past 3 years, DGICB and METC moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -790.4 %².
Among the 19 assets we track against DGICB, METC ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DGICB outperformed by 113.4 percentage points (+68.3% for DGICB against -45.1% for METC). Note the risk asymmetry: METC runs 2.1 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.
DGICB vs METC: side by side
| DGICB (Donegal Group, Inc.) | METC (Ramaco Resources, Inc.) | |
|---|---|---|
| 1-year return | +68.3% | -45.1% |
| 5-year return | +82.3% | +83.2% |
| Volatility (ann.) | 41.5% | 86.1% |
| Beta vs S&P 500 | 0.15 | 1.13 |
| Max drawdown (3Y) | -30.3% | -83.7% |
| Market cap | $0.9B | $0.9B |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 3.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGICB | METC |
|---|---|---|
| 2022 | +25.8% | -33.0% |
| 2023 | -6.8% | +105.9% |
| 2024 | +1.6% | -37.9% |
| 2025 | +30.8% | +77.9% |
| 2026 | +34.6% | -22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICB and METC good diversifiers for each other?
Yes. With a correlation of -0.22, DGICB and METC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGICB and METC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.25 over the last year and -0.09 over 5 years.
Is METC a good diversifier for DGICB?
Yes. With a correlation of -0.22, DGICB and METC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DGICB correlations · METC correlations
