IEX vs NUE: Correlation
Measured on weekly returns over the past three years, IDEX Corporation (IEX) and Nucor (NUE) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and NUE?
Across a 3-year window, the weekly returns of IEX and NUE correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 453.1 %².
Within IEX's tracked universe of 40 assets, NUE comes in at #21 by 3-year correlation. The last year tells two different stories: NUE led by 27.1 percentage points, +43.0% for IEX against +70.1% for NUE. The link looks structural: the rolling one-year correlation barely moved, holding between 0.49 and 0.72.
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.
IEX vs NUE: side by side
| IEX (IDEX Corporation) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +43.0% | +70.1% |
| 5-year return | +10.5% | +124.6% |
| Volatility (ann.) | 23.3% | 33.3% |
| Beta vs S&P 500 | 0.89 | 1.08 |
| Max drawdown (3Y) | -34.6% | -47.8% |
| Market cap | $17.2B | $57.3B |
| P/E (trailing) | 33.8 | 20.1 |
| Dividend yield | 1.23% | 0.88% |
| Sector / category | Industrials | Materials |
Year-by-year returns
| Year | IEX | NUE |
|---|---|---|
| 2022 | -2.2% | +17.4% |
| 2023 | -3.8% | +33.8% |
| 2024 | -2.4% | -32.0% |
| 2025 | -13.7% | +42.0% |
| 2026 | +32.9% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and NUE good diversifiers for each other?
To a limited degree. At 0.58 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 IEX and NUE?
As of 2026-08-27, the correlation of weekly returns between IEX and NUE is 0.58 over 3 years, 0.49 over 1 year and 0.47 over 5 years.
Is NUE a good diversifier for IEX?
To a limited degree. At 0.58 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 0.58 mean?
A reading of 0.58 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/iex-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iex-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEX correlations · NUE correlations
