MTUS vs STLD: Correlation
How closely do Metallus Inc. (MTUS) and Steel Dynamics (STLD) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUS and STLD?
Over the past 3 years, MTUS and STLD moved with a correlation of 0.61, which is strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 848.0 %².
By 3-year correlation, STLD places #6 of the 16 assets tracked against MTUS. The last year tells two different stories: STLD led by 59.6 percentage points, +20.2% for MTUS against +79.8% for STLD.
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 STLD: side by side
| MTUS (Metallus Inc.) | STLD (Steel Dynamics) | |
|---|---|---|
| 1-year return | +20.2% | +79.8% |
| 5-year return | +40.6% | +262.0% |
| Volatility (ann.) | 40.3% | 34.5% |
| Beta vs S&P 500 | 1.20 | 1.13 |
| Max drawdown (3Y) | -52.7% | -28.7% |
| Market cap | $0.8B | $33.8B |
| P/E (trailing) | 99.5 | 21.4 |
| Dividend yield | 0.00% | 0.87% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MTUS | STLD |
|---|---|---|
| 2022 | +10.1% | +60.1% |
| 2023 | +29.1% | +22.8% |
| 2024 | -39.7% | -2.0% |
| 2025 | +21.4% | +50.7% |
| 2026 | +16.0% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUS and STLD good diversifiers for each other?
To a limited degree. At 0.61 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 STLD?
As of 2026-08-27, the correlation of weekly returns between MTUS and STLD is 0.61 over 3 years, 0.60 over 1 year and 0.65 over 5 years.
Is STLD a good diversifier for MTUS?
To a limited degree. At 0.61 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 0.61 mean?
A reading of 0.61 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/mtus-vs-stld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtus-vs-stld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTUS correlations · STLD correlations
