MP vs USAR: Correlation
Measured on weekly returns over the past three years, MP Materials Corp. (MP) and USA Rare Earth, Inc. (USAR) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MP and USAR?
Across a 3-year window, the weekly returns of MP and USAR correlate at 0.43, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.43 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 2939.3 %².
Among the 13 assets we track against MP, USAR ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with USAR ahead by 40.0 points (-17.3% versus +22.7%).
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.
MP vs USAR: side by side
| MP (MP Materials Corp.) | USAR (USA Rare Earth, Inc.) | |
|---|---|---|
| 1-year return | -17.3% | +22.7% |
| 5-year return | +76.6% | n/a |
| Volatility (ann.) | 69.3% | 98.3% |
| Beta vs S&P 500 | 0.90 | -0.14 |
| Max drawdown (3Y) | -61.4% | -69.2% |
| Market cap | $10.5B | $4.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MP | USAR |
|---|---|---|
| 2022 | -46.5% | – |
| 2023 | -18.2% | – |
| 2024 | -21.4% | +11.1% |
| 2025 | +223.8% | +3.7% |
| 2026 | +16.8% | +61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MP and USAR good diversifiers for each other?
Reasonably. At 0.43, MP and USAR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MP and USAR?
The MP/USAR correlation stands at 0.43 on a 3-year window (1 year: 0.64, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is USAR a good diversifier for MP?
Reasonably. At 0.43, MP and USAR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mp-vs-usar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mp-vs-usar/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MP correlations · USAR correlations
