LND vs SID: Correlation
Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (LND) and Companhia Siderurgica Nacional S.A. (SID) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LND and SID?
Across a 3-year window, the weekly returns of LND and SID correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 364.1 %².
In LND's tracked universe of 10 assets, SID sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months LND outperformed by 18.6 percentage points (-5.1% for LND against -23.7% for SID). One caveat on sizing: SID is 2.4 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.
LND vs SID: side by side
| LND (Brasilagro Brazilian Agric Real Estate Co Sponsored ADR) | SID (Companhia Siderurgica Nacional S.A.) | |
|---|---|---|
| 1-year return | -5.1% | -23.7% |
| 5-year return | +2.5% | -77.7% |
| Volatility (ann.) | 20.6% | 49.3% |
| Beta vs S&P 500 | 0.07 | 1.22 |
| Max drawdown (3Y) | -32.5% | -76.0% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 20.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LND | SID |
|---|---|---|
| 2022 | +23.6% | -29.7% |
| 2023 | +3.9% | +69.2% |
| 2024 | -27.2% | -59.6% |
| 2025 | -0.8% | +11.1% |
| 2026 | +3.6% | -33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LND and SID good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LND and SID?
The LND/SID correlation stands at 0.36 on a 3-year window (1 year: 0.33, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SID a good diversifier for LND?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lnd-vs-sid.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lnd-vs-sid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LND correlations · SID correlations
