MLM vs ROAD: Correlation
Martin Marietta Materials (MLM) and Construction Partners, Inc. (ROAD) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLM and ROAD?
Across a 3-year window, the weekly returns of MLM and ROAD correlate at 0.60, strong. Recent behaviour matches the longer record: 0.56 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 663.0 %².
By 3-year correlation, ROAD places #12 of the 36 assets tracked against MLM. On 12-month performance ROAD holds a 8.4-point edge, -13.8% against -5.4%. Risk is not evenly split, since ROAD carries 1.9 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.
MLM vs ROAD: side by side
| MLM (Martin Marietta Materials) | ROAD (Construction Partners, Inc.) | |
|---|---|---|
| 1-year return | -13.8% | -5.4% |
| 5-year return | +42.4% | +241.9% |
| Volatility (ann.) | 23.9% | 46.3% |
| Beta vs S&P 500 | 0.85 | 1.52 |
| Max drawdown (3Y) | -26.8% | -33.6% |
| Market cap | $37.5B | $6.5B |
| P/E (trailing) | 34.4 | 44.8 |
| Dividend yield | 0.62% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | MLM | ROAD |
|---|---|---|
| 2022 | -22.7% | -9.2% |
| 2023 | +48.6% | +63.1% |
| 2024 | +4.1% | +103.3% |
| 2025 | +21.3% | +22.7% |
| 2026 | -14.9% | +5.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLM and ROAD good diversifiers for each other?
Only partially. A correlation of 0.60 means MLM and ROAD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MLM and ROAD?
As of 2026-08-27, the correlation of weekly returns between MLM and ROAD is 0.60 over 3 years, 0.56 over 1 year and 0.55 over 5 years.
Is ROAD a good diversifier for MLM?
Only partially. A correlation of 0.60 means MLM and ROAD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 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/mlm-vs-road.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlm-vs-road/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLM correlations · ROAD correlations
