MLI vs WS: Correlation
Mueller Industries, Inc. (MLI) and Worthington Steel, Inc. (WS) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLI and WS?
Over the past 3 years, MLI and WS moved with a correlation of 0.51, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.51 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 821.4 %².
Among the 10 assets we track against MLI, WS ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MLI outperformed by 29.6 percentage points (+34.4% for MLI against +4.8% for WS). Risk is not evenly split, since WS carries 1.6 times the volatility of the other side.
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.
MLI vs WS: side by side
| MLI (Mueller Industries, Inc.) | WS (Worthington Steel, Inc.) | |
|---|---|---|
| 1-year return | +34.4% | +4.8% |
| 5-year return | +509.6% | n/a |
| Volatility (ann.) | 31.5% | 51.2% |
| Beta vs S&P 500 | 0.93 | 1.67 |
| Max drawdown (3Y) | -27.8% | -51.0% |
| Market cap | $14.2B | $1.7B |
| P/E (trailing) | 16.7 | 201.9 |
| Dividend yield | 0.94% | 1.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLI | WS |
|---|---|---|
| 2022 | +1.0% | – |
| 2023 | +62.4% | – |
| 2024 | +70.5% | +15.4% |
| 2025 | +46.3% | +11.2% |
| 2026 | +12.5% | -0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLI and WS good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MLI and WS?
As of 2026-08-27, the correlation of weekly returns between MLI and WS is 0.51 over 3 years, 0.41 over 1 year and n/a over 5 years.
Is WS a good diversifier for MLI?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/mli-vs-ws.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mli-vs-ws/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MLI correlations · WS correlations
