MT vs RIO: Correlation
Arcelor Mittal NY Registry Shares NEW (MT) and Rio Tinto Plc (RIO) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MT and RIO?
Across a 3-year window, the weekly returns of MT and RIO correlate at 0.64, strong. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 594.6 %².
Within MT's tracked universe of 15 assets, RIO comes in at #4 by 3-year correlation. The last year tells two different stories: MT led by 53.0 percentage points, +130.2% for MT against +77.2% for RIO.
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.
MT vs RIO: side by side
| MT (Arcelor Mittal NY Registry Shares NEW) | RIO (Rio Tinto Plc) | |
|---|---|---|
| 1-year return | +130.2% | +77.2% |
| 5-year return | +134.6% | +94.8% |
| Volatility (ann.) | 37.2% | 25.1% |
| Beta vs S&P 500 | 1.19 | 0.70 |
| Max drawdown (3Y) | -30.8% | -24.2% |
| Market cap | $56.3B | $170.4B |
| P/E (trailing) | 31.4 | 14.2 |
| Dividend yield | 0.81% | 4.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MT | RIO |
|---|---|---|
| 2022 | -16.4% | +18.5% |
| 2023 | +10.3% | +11.1% |
| 2024 | -16.9% | -15.4% |
| 2025 | +100.1% | +44.5% |
| 2026 | +64.9% | +37.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MT and RIO good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MT and RIO?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.56 over the last year and 0.64 over 5 years.
Is RIO a good diversifier for MT?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/mt-vs-rio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mt-vs-rio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MT correlations · RIO correlations
