FIP vs RMT: Correlation
FTAI Infrastructure Inc. (FIP) and Royce Micro-Cap Trust, Inc. (RMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIP and RMT?
Across a 3-year window, the weekly returns of FIP and RMT correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 561.5 %².
RMT is one of the assets that tracks FIP most closely: it ranks #2 out of the 13 assets we track against FIP. Correlation aside, the last 12 months split them widely, with RMT ahead by 75.9 points (-27.5% versus +48.4%). One caveat on sizing: FIP is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FIP vs RMT: side by side
| FIP (FTAI Infrastructure Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -27.5% | +48.4% |
| 5-year return | n/a | +80.1% |
| Volatility (ann.) | 56.6% | 20.5% |
| Beta vs S&P 500 | 1.48 | 1.09 |
| Max drawdown (3Y) | -68.0% | -26.4% |
| Market cap | $0.4B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 3.22% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIP | RMT |
|---|---|---|
| 2022 | – | -16.8% |
| 2023 | +36.9% | +15.8% |
| 2024 | +89.5% | +14.0% |
| 2025 | -34.9% | +16.1% |
| 2026 | -19.2% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIP and RMT good diversifiers for each other?
Reasonably. At 0.48, FIP and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FIP and RMT?
The FIP/RMT correlation stands at 0.48 on a 3-year window (1 year: 0.51, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is RMT a good diversifier for FIP?
Reasonably. At 0.48, FIP and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio 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/fip-vs-rmt.json
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[](https://www.pairbook.io/pair/fip-vs-rmt/)
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Related comparisons
Hubs: FIP correlations · RMT correlations
