MWA vs RVT: Correlation
How closely do MUELLER WATER PRODUCTS (MWA) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWA and RVT?
On 3 years of weekly data the MWA/RVT correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 355.8 %².
Among the 11 assets we track against MWA, RVT ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RVT outperformed by 35.8 percentage points (-8.4% for MWA against +27.4% for RVT). Risk is not evenly split, since MWA carries 1.6 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.
MWA vs RVT: side by side
| MWA (MUELLER WATER PRODUCTS) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -8.4% | +27.4% |
| 5-year return | +59.7% | +53.9% |
| Volatility (ann.) | 31.5% | 19.1% |
| Beta vs S&P 500 | 0.96 | 0.99 |
| Max drawdown (3Y) | -19.2% | -23.5% |
| Market cap | $3.9B | $2.3B |
| P/E (trailing) | 17.4 | 6.5 |
| Dividend yield | 1.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MWA | RVT |
|---|---|---|
| 2022 | -23.8% | -26.3% |
| 2023 | +36.3% | +18.8% |
| 2024 | +58.4% | +17.9% |
| 2025 | +7.0% | +11.5% |
| 2026 | +4.6% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWA and RVT good diversifiers for each other?
Only partially. A correlation of 0.59 means MWA and RVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MWA and RVT?
As of 2026-08-27, the correlation of weekly returns between MWA and RVT is 0.59 over 3 years, 0.60 over 1 year and 0.62 over 5 years.
Is RVT a good diversifier for MWA?
Only partially. A correlation of 0.59 means MWA and RVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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.
Use this data
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Related comparisons
Hubs: MWA correlations · RVT correlations
