KALU vs NUE: Correlation
How closely do Kaiser Aluminum Corporation (KALU) and Nucor (NUE) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KALU and NUE?
On 3 years of weekly data the KALU/NUE correlation comes out at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 883.2 %².
By 3-year correlation, NUE places #7 of the 17 assets tracked against KALU. Their recent paths diverged sharply: over the last 12 months KALU outperformed by 33.7 percentage points (+103.8% for KALU against +70.1% for NUE).
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.
KALU vs NUE: side by side
| KALU (Kaiser Aluminum Corporation) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +103.8% | +70.1% |
| 5-year return | +51.7% | +124.6% |
| Volatility (ann.) | 46.6% | 33.3% |
| Beta vs S&P 500 | 1.72 | 1.08 |
| Max drawdown (3Y) | -48.9% | -47.8% |
| Market cap | $2.6B | $57.3B |
| P/E (trailing) | 11.6 | 20.1 |
| Dividend yield | 1.98% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | KALU | NUE |
|---|---|---|
| 2022 | -16.2% | +17.4% |
| 2023 | -2.1% | +33.8% |
| 2024 | +2.7% | -32.0% |
| 2025 | +70.1% | +42.0% |
| 2026 | +38.5% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KALU and NUE good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KALU and NUE?
The KALU/NUE correlation stands at 0.57 on a 3-year window (1 year: 0.56, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is NUE a good diversifier for KALU?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/kalu-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kalu-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KALU correlations · NUE correlations
