DY vs MLM: Correlation
How closely do Dycom Industries, Inc. (DY) and Martin Marietta Materials (MLM) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DY and MLM?
Across a 3-year window, the weekly returns of DY and MLM correlate at 0.45, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.45). Stretching to 5 years gives 0.41, with an annualized covariance of 463.8 %².
Among the 11 assets we track against DY, MLM ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DY ahead by 34.3 points (+20.5% versus -13.8%). Note the risk asymmetry: DY runs 1.8 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.
DY vs MLM: side by side
| DY (Dycom Industries, Inc.) | MLM (Martin Marietta Materials) | |
|---|---|---|
| 1-year return | +20.5% | -13.8% |
| 5-year return | +304.3% | +42.4% |
| Volatility (ann.) | 43.4% | 23.9% |
| Beta vs S&P 500 | 0.97 | 0.85 |
| Max drawdown (3Y) | -42.4% | -26.8% |
| Market cap | $9.3B | $37.5B |
| P/E (trailing) | 28.4 | 34.4 |
| Dividend yield | 0.00% | 0.62% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | DY | MLM |
|---|---|---|
| 2022 | -0.2% | -22.7% |
| 2023 | +23.0% | +48.6% |
| 2024 | +51.2% | +4.1% |
| 2025 | +94.1% | +21.3% |
| 2026 | -8.8% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DY and MLM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DY and MLM?
As of 2026-08-27, the correlation of weekly returns between DY and MLM is 0.45 over 3 years, 0.56 over 1 year and 0.41 over 5 years.
Is MLM a good diversifier for DY?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/dy-vs-mlm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dy-vs-mlm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DY correlations · MLM correlations
