KWY vs RMT: Correlation
Kingsway Corporation (KWY) and Royce Micro-Cap Trust, Inc. (RMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWY and RMT?
Over the past 3 years, KWY and RMT moved with a correlation of 0.42, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 329.5 %².
By 3-year correlation, RMT places #5 of the 10 assets tracked against KWY. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 77.7 percentage points (-29.3% for KWY against +48.4% for RMT). One caveat on sizing: KWY is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
KWY vs RMT: side by side
| KWY (Kingsway Corporation) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -29.3% | +48.4% |
| 5-year return | +80.2% | +80.1% |
| Volatility (ann.) | 37.8% | 20.5% |
| Beta vs S&P 500 | 0.90 | 1.09 |
| Max drawdown (3Y) | -48.0% | -26.4% |
| Market cap | $0.3B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KWY | RMT |
|---|---|---|
| 2022 | +44.7% | -16.8% |
| 2023 | +5.9% | +15.8% |
| 2024 | -0.4% | +14.0% |
| 2025 | +60.7% | +16.1% |
| 2026 | -25.5% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWY and RMT good diversifiers for each other?
Reasonably. At 0.42, KWY and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KWY and RMT?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.48 over the last year and 0.29 over 5 years.
Is RMT a good diversifier for KWY?
Reasonably. At 0.42, KWY and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/kwy-vs-rmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kwy-vs-rmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KWY correlations · RMT correlations
