ITRN vs RMT: Correlation
How closely do Ituran Location and Control Ltd. (ITRN) and Royce Micro-Cap Trust, Inc. (RMT) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITRN and RMT?
Over the past 3 years, ITRN and RMT moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 291.8 %².
RMT is one of the assets that tracks ITRN most closely: it ranks #3 out of the 11 assets we track against ITRN. Twelve-month performance is nearly a tie, at +52.3% for ITRN and +48.4% for RMT.
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.
ITRN vs RMT: side by side
| ITRN (Ituran Location and Control Ltd.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +52.3% | +48.4% |
| 5-year return | +146.4% | +80.1% |
| Volatility (ann.) | 29.1% | 20.5% |
| Beta vs S&P 500 | 0.84 | 1.09 |
| Max drawdown (3Y) | -26.8% | -26.4% |
| Market cap | $1.0B | $0.8B |
| P/E (trailing) | 16.1 | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITRN | RMT |
|---|---|---|
| 2022 | -18.8% | -16.8% |
| 2023 | +32.5% | +15.8% |
| 2024 | +21.0% | +14.0% |
| 2025 | +45.6% | +16.1% |
| 2026 | +25.4% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITRN and RMT good diversifiers for each other?
Reasonably. At 0.49, ITRN and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ITRN and RMT?
As of 2026-08-27, the correlation of weekly returns between ITRN and RMT is 0.49 over 3 years, 0.56 over 1 year and 0.50 over 5 years.
Is RMT a good diversifier for ITRN?
Reasonably. At 0.49, ITRN and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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.
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Related comparisons
Hubs: ITRN correlations · RMT correlations
