GVA vs MLM: Correlation
Granite Construction Incorporated (GVA) and Martin Marietta Materials (MLM) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GVA and MLM?
Across a 3-year window, the weekly returns of GVA and MLM correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 559.8 %².
MLM is one of the assets that tracks GVA most closely: it ranks #1 out of the 14 assets we track against GVA. Their recent paths diverged sharply: over the last 12 months GVA outperformed by 27.7 percentage points (+13.9% for GVA against -13.8% for MLM).
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.
GVA vs MLM: side by side
| GVA (Granite Construction Incorporated) | MLM (Martin Marietta Materials) | |
|---|---|---|
| 1-year return | +13.9% | -13.8% |
| 5-year return | +219.9% | +42.4% |
| Volatility (ann.) | 35.5% | 23.9% |
| Beta vs S&P 500 | 1.13 | 0.85 |
| Max drawdown (3Y) | -29.1% | -26.8% |
| Market cap | $5.5B | $37.5B |
| P/E (trailing) | – | 34.4 |
| Dividend yield | 0.42% | 0.62% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | GVA | MLM |
|---|---|---|
| 2022 | -7.8% | -22.7% |
| 2023 | +46.8% | +48.6% |
| 2024 | +73.8% | +4.1% |
| 2025 | +32.2% | +21.3% |
| 2026 | +8.3% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GVA and MLM good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GVA and MLM?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.61 over the last year and 0.56 over 5 years.
Is MLM a good diversifier for GVA?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gva-vs-mlm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gva-vs-mlm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GVA correlations · MLM correlations
