MTRX vs RMT: Correlation
How closely do Matrix Service Company (MTRX) and Royce Micro-Cap Trust, Inc. (RMT) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTRX and RMT?
Over the past 3 years, MTRX and RMT moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 485.6 %².
Among the 12 assets we track against MTRX, RMT ranks #5 by 3-year correlation. The last year tells two different stories: RMT led by 77.4 percentage points, -29.0% for MTRX against +48.4% for RMT. One caveat on sizing: MTRX is 2.5 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.
MTRX vs RMT: side by side
| MTRX (Matrix Service Company) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -29.0% | +48.4% |
| 5-year return | -3.9% | +80.1% |
| Volatility (ann.) | 51.6% | 20.5% |
| Beta vs S&P 500 | 1.13 | 1.09 |
| Max drawdown (3Y) | -36.0% | -26.4% |
| Market cap | $0.3B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTRX | RMT |
|---|---|---|
| 2022 | -17.3% | -16.8% |
| 2023 | +57.2% | +15.8% |
| 2024 | +22.4% | +14.0% |
| 2025 | -2.3% | +16.1% |
| 2026 | -6.8% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTRX and RMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MTRX and RMT?
The MTRX/RMT correlation stands at 0.46 on a 3-year window (1 year: 0.37, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is RMT a good diversifier for MTRX?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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.
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Related comparisons
Hubs: MTRX correlations · RMT correlations
