MOV vs RMT: Correlation
Measured on weekly returns over the past three years, Movado Group Inc. (MOV) and Royce Micro-Cap Trust, Inc. (RMT) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOV and RMT?
Across a 3-year window, the weekly returns of MOV and RMT correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.54, with an annualized covariance of 463.8 %².
RMT is one of the assets that tracks MOV most closely: it ranks #1 out of the 18 assets we track against MOV. The last year tells two different stories: MOV led by 60.8 percentage points, +109.2% for MOV against +48.4% for RMT. One caveat on sizing: MOV is 1.9 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.
MOV vs RMT: side by side
| MOV (Movado Group Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +109.2% | +48.4% |
| 5-year return | +29.6% | +80.1% |
| Volatility (ann.) | 39.1% | 20.5% |
| Beta vs S&P 500 | 1.15 | 1.09 |
| Max drawdown (3Y) | -55.1% | -26.4% |
| Market cap | $0.8B | $0.8B |
| P/E (trailing) | 19.4 | 8.5 |
| Dividend yield | 2.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MOV | RMT |
|---|---|---|
| 2022 | -19.7% | -16.8% |
| 2023 | +2.0% | +15.8% |
| 2024 | -30.6% | +14.0% |
| 2025 | +13.9% | +16.1% |
| 2026 | +71.7% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOV and RMT good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MOV and RMT?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.51 over the last year and 0.54 over 5 years.
Is RMT a good diversifier for MOV?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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/mov-vs-rmt.json
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Related comparisons
Hubs: MOV correlations · RMT correlations
