MT vs VEA: Correlation
Measured on weekly returns over the past three years, Arcelor Mittal NY Registry Shares NEW (MT) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MT and VEA?
On 3 years of weekly data the MT/VEA correlation comes out at 0.69, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 388.5 %².
In MT's tracked universe of 15 assets, VEA sits right near the top at #3. Correlation aside, the last 12 months split them widely, with MT ahead by 101.7 points (+130.2% versus +28.5%). Risk is not evenly split, since MT carries 2.5 times the volatility of the other side.
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 VEA: side by side
| MT (Arcelor Mittal NY Registry Shares NEW) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +130.2% | +28.5% |
| 5-year return | +134.6% | +63.5% |
| Volatility (ann.) | 37.2% | 15.1% |
| Beta vs S&P 500 | 1.19 | 0.79 |
| Max drawdown (3Y) | -30.8% | -13.5% |
| Market cap | $56.3B | – |
| P/E (trailing) | 31.4 | – |
| Dividend yield | 0.81% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | MT | VEA |
|---|---|---|
| 2022 | -16.4% | -15.3% |
| 2023 | +10.3% | +17.9% |
| 2024 | -16.9% | +3.1% |
| 2025 | +100.1% | +35.2% |
| 2026 | +64.9% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MT represents 0.09% of VEA's portfolio, so part of any move in VEA is MT itself, and the correlation between them is partly mechanical.
Are MT and VEA good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MT and VEA?
The MT/VEA correlation stands at 0.69 on a 3-year window (1 year: 0.68, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is VEA a good diversifier for MT?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
A reading of 0.69 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-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mt-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MT correlations · VEA correlations
