MLR vs RMT: Correlation
Measured on weekly returns over the past three years, Miller Industries, Inc. (MLR) and Royce Micro-Cap Trust, Inc. (RMT) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLR and RMT?
Over the past 3 years, MLR and RMT moved with a correlation of 0.60, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.60 over 3 years. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 391.5 %².
Among the 14 assets we track against MLR, RMT ranks #4 by 3-year correlation. The last year tells two different stories: RMT led by 15.0 percentage points, +33.4% for MLR against +48.4% for RMT. One caveat on sizing: MLR is 1.6 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.
MLR vs RMT: side by side
| MLR (Miller Industries, Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +33.4% | +48.4% |
| 5-year return | +70.2% | +80.1% |
| Volatility (ann.) | 31.9% | 20.5% |
| Beta vs S&P 500 | 0.88 | 1.09 |
| Max drawdown (3Y) | -52.7% | -26.4% |
| Market cap | $0.7B | $0.8B |
| P/E (trailing) | 46.3 | 8.5 |
| Dividend yield | 1.43% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLR | RMT |
|---|---|---|
| 2022 | -17.9% | -16.8% |
| 2023 | +61.8% | +15.8% |
| 2024 | +56.6% | +14.0% |
| 2025 | -41.7% | +16.1% |
| 2026 | +56.2% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLR and RMT good diversifiers for each other?
Only partially. A correlation of 0.60 means MLR and RMT 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 MLR and RMT?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.38 over the last year and 0.56 over 5 years.
Is RMT a good diversifier for MLR?
Only partially. A correlation of 0.60 means MLR and RMT 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?
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/mlr-vs-rmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mlr-vs-rmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MLR correlations · RMT correlations
