MLR vs UFPT: Correlation
Miller Industries, Inc. (MLR) and UFP Technologies, Inc. (UFPT) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLR and UFPT?
Over the past 3 years, MLR and UFPT moved with a correlation of 0.48, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.48 over 3 years. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 793.6 %².
By 3-year correlation, UFPT places #9 of the 14 assets tracked against MLR. On 12-month performance UFPT holds a 6.4-point edge, +33.4% against +39.8%. Note the risk asymmetry: UFPT runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 UFPT: side by side
| MLR (Miller Industries, Inc.) | UFPT (UFP Technologies, Inc.) | |
|---|---|---|
| 1-year return | +33.4% | +39.8% |
| 5-year return | +70.2% | +340.3% |
| Volatility (ann.) | 31.9% | 51.7% |
| Beta vs S&P 500 | 0.88 | 1.34 |
| Max drawdown (3Y) | -52.7% | -48.3% |
| Market cap | $0.7B | $2.3B |
| P/E (trailing) | 46.3 | 32.9 |
| Dividend yield | 1.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLR | UFPT |
|---|---|---|
| 2022 | -17.9% | +67.8% |
| 2023 | +61.8% | +45.9% |
| 2024 | +56.6% | +42.1% |
| 2025 | -41.7% | -9.2% |
| 2026 | +56.2% | +35.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLR and UFPT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MLR and UFPT?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.36 over the last year and 0.41 over 5 years.
Is UFPT a good diversifier for MLR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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/mlr-vs-ufpt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlr-vs-ufpt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLR correlations · UFPT correlations
