MLR vs VHI: Correlation
Miller Industries, Inc. (MLR) and Valhi, Inc. (VHI) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLR and VHI?
Across a 3-year window, the weekly returns of MLR and VHI correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.37, with an annualized covariance of 929.0 %².
Within MLR's tracked universe of 14 assets, VHI comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MLR ahead by 26.3 points (+33.4% versus +7.1%). Note the risk asymmetry: VHI runs 1.9 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 VHI: side by side
| MLR (Miller Industries, Inc.) | VHI (Valhi, Inc.) | |
|---|---|---|
| 1-year return | +33.4% | +7.1% |
| 5-year return | +70.2% | -14.8% |
| Volatility (ann.) | 31.9% | 59.4% |
| Beta vs S&P 500 | 0.88 | 1.08 |
| Max drawdown (3Y) | -52.7% | -71.3% |
| Market cap | $0.7B | $0.5B |
| P/E (trailing) | 46.3 | – |
| Dividend yield | 1.43% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLR | VHI |
|---|---|---|
| 2022 | -17.9% | -22.7% |
| 2023 | +61.8% | -29.4% |
| 2024 | +56.6% | +56.5% |
| 2025 | -41.7% | -47.4% |
| 2026 | +56.2% | +49.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLR and VHI good diversifiers for each other?
Reasonably. At 0.49, MLR and VHI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MLR and VHI?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.52 over the last year and 0.37 over 5 years.
Is VHI a good diversifier for MLR?
Reasonably. At 0.49, MLR and VHI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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-vhi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mlr-vs-vhi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLR correlations · VHI correlations
