MT vs SID: Correlation
Measured on weekly returns over the past three years, Arcelor Mittal NY Registry Shares NEW (MT) and Companhia Siderurgica Nacional S.A. (SID) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MT and SID?
On 3 years of weekly data the MT/SID correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1018.7 %².
Within MT's tracked universe of 15 assets, SID comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MT ahead by 153.9 points (+130.2% versus -23.7%).
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.
MT vs SID: side by side
| MT (Arcelor Mittal NY Registry Shares NEW) | SID (Companhia Siderurgica Nacional S.A.) | |
|---|---|---|
| 1-year return | +130.2% | -23.7% |
| 5-year return | +134.6% | -77.7% |
| Volatility (ann.) | 37.2% | 49.3% |
| Beta vs S&P 500 | 1.19 | 1.22 |
| Max drawdown (3Y) | -30.8% | -76.0% |
| Market cap | $56.3B | $1.4B |
| P/E (trailing) | 31.4 | – |
| Dividend yield | 0.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MT | SID |
|---|---|---|
| 2022 | -16.4% | -29.7% |
| 2023 | +10.3% | +69.2% |
| 2024 | -16.9% | -59.6% |
| 2025 | +100.1% | +11.1% |
| 2026 | +64.9% | -33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MT and SID good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MT and SID?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.52 over the last year and 0.56 over 5 years.
Is SID a good diversifier for MT?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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/mt-vs-sid.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mt-vs-sid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MT correlations · SID correlations
