GVA vs VMC: Correlation
How closely do Granite Construction Incorporated (GVA) and Vulcan Materials Company (VMC) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GVA and VMC?
Over the past 3 years, GVA and VMC moved with a correlation of 0.61, which is strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 549.7 %².
Few assets follow GVA as closely as VMC, which ranks #2 of 14 tracked partners. Their recent paths diverged sharply: over the last 12 months GVA outperformed by 19.1 percentage points (+13.9% for GVA against -5.2% for VMC).
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 VMC: side by side
| GVA (Granite Construction Incorporated) | VMC (Vulcan Materials Company) | |
|---|---|---|
| 1-year return | +13.9% | -5.2% |
| 5-year return | +219.9% | +53.2% |
| Volatility (ann.) | 35.5% | 25.2% |
| Beta vs S&P 500 | 1.13 | 0.82 |
| Max drawdown (3Y) | -29.1% | -24.4% |
| Market cap | $5.5B | $35.5B |
| P/E (trailing) | – | 32.3 |
| Dividend yield | 0.42% | 0.74% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | GVA | VMC |
|---|---|---|
| 2022 | -7.8% | -14.9% |
| 2023 | +46.8% | +30.8% |
| 2024 | +73.8% | +14.1% |
| 2025 | +32.2% | +11.7% |
| 2026 | +8.3% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GVA and VMC good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GVA and VMC?
The GVA/VMC correlation stands at 0.61 on a 3-year window (1 year: 0.56, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is VMC a good diversifier for GVA?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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/gva-vs-vmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gva-vs-vmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GVA correlations · VMC correlations
