MTUS vs NUE: Correlation
How closely do Metallus Inc. (MTUS) and Nucor (NUE) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUS and NUE?
On 3 years of weekly data the MTUS/NUE correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 859.6 %².
Within MTUS's tracked universe of 16 assets, NUE comes in at #5 by 3-year correlation. The last year tells two different stories: NUE led by 49.9 percentage points, +20.2% for MTUS against +70.1% for NUE.
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.
MTUS vs NUE: side by side
| MTUS (Metallus Inc.) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +20.2% | +70.1% |
| 5-year return | +40.6% | +124.6% |
| Volatility (ann.) | 40.3% | 33.3% |
| Beta vs S&P 500 | 1.20 | 1.08 |
| Max drawdown (3Y) | -52.7% | -47.8% |
| Market cap | $0.8B | $57.3B |
| P/E (trailing) | 99.5 | 20.1 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MTUS | NUE |
|---|---|---|
| 2022 | +10.1% | +17.4% |
| 2023 | +29.1% | +33.8% |
| 2024 | -39.7% | -32.0% |
| 2025 | +21.4% | +42.0% |
| 2026 | +16.0% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUS and NUE good diversifiers for each other?
To a limited degree. At 0.64 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 MTUS and NUE?
The MTUS/NUE correlation stands at 0.64 on a 3-year window (1 year: 0.60, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is NUE a good diversifier for MTUS?
To a limited degree. At 0.64 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 0.64 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/mtus-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtus-vs-nue/)
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Related comparisons
Hubs: MTUS correlations · NUE correlations
