INDI vs RMT: Correlation
How closely do indie Semiconductor, Inc. (INDI) and Royce Micro-Cap Trust, Inc. (RMT) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDI and RMT?
On 3 years of weekly data the INDI/RMT correlation comes out at 0.60, strong. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1065.1 %².
Few assets follow INDI as closely as RMT, which ranks #1 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with RMT ahead by 61.3 points (-12.9% versus +48.4%). Risk is not evenly split, since INDI carries 4.2 times the volatility of the other side.
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.
INDI vs RMT: side by side
| INDI (indie Semiconductor, Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -12.9% | +48.4% |
| 5-year return | -59.1% | +80.1% |
| Volatility (ann.) | 86.4% | 20.5% |
| Beta vs S&P 500 | 3.07 | 1.09 |
| Max drawdown (3Y) | -81.3% | -26.4% |
| Market cap | $0.9B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDI | RMT |
|---|---|---|
| 2022 | -51.4% | -16.8% |
| 2023 | +39.1% | +15.8% |
| 2024 | -50.1% | +14.0% |
| 2025 | -12.8% | +16.1% |
| 2026 | +14.4% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDI and RMT good diversifiers for each other?
To a limited degree. At 0.60 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 INDI and RMT?
As of 2026-08-27, the correlation of weekly returns between INDI and RMT is 0.60 over 3 years, 0.51 over 1 year and 0.56 over 5 years.
Is RMT a good diversifier for INDI?
To a limited degree. At 0.60 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 0.60 mean?
A reading of 0.60 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/indi-vs-rmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/indi-vs-rmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDI correlations · RMT correlations
