LYB vs NUE: Correlation
LyondellBasell (LYB) and Nucor (NUE) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYB and NUE?
Over the past 3 years, LYB and NUE moved with a correlation of 0.31, which is moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.31). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 342.6 %².
Within LYB's tracked universe of 36 assets, NUE comes in at #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NUE outperformed by 51.0 percentage points (+19.1% for LYB against +70.1% for NUE). The relationship is regime-dependent: the rolling one-year correlation swung between 0.15 and 0.65 over the past three years, so this pair behaves very differently depending on the market environment.
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.
LYB vs NUE: side by side
| LYB (LyondellBasell) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +19.1% | +70.1% |
| 5-year return | -12.8% | +124.6% |
| Volatility (ann.) | 33.7% | 33.3% |
| Beta vs S&P 500 | 0.42 | 1.08 |
| Max drawdown (3Y) | -55.4% | -47.8% |
| Market cap | $20.4B | $57.3B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 6.58% | 0.88% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | LYB | NUE |
|---|---|---|
| 2022 | -1.0% | +17.4% |
| 2023 | +20.7% | +33.8% |
| 2024 | -17.4% | -32.0% |
| 2025 | -36.0% | +42.0% |
| 2026 | +50.5% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYB and NUE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LYB and NUE?
As of 2026-08-27, the correlation of weekly returns between LYB and NUE is 0.31 over 3 years, 0.06 over 1 year and 0.41 over 5 years.
Is NUE a good diversifier for LYB?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lyb-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lyb-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LYB correlations · NUE correlations
