PPLI vs RMT: Correlation
People Incorporated (PPLI) and Royce Micro-Cap Trust, Inc. (RMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPLI and RMT?
On 3 years of weekly data the PPLI/RMT correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 379.5 %².
Few assets follow PPLI as closely as RMT, which ranks #2 of 14 tracked partners. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 41.4 percentage points (+7.0% for PPLI against +48.4% for RMT). One caveat on sizing: PPLI is 1.6 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.
PPLI vs RMT: side by side
| PPLI (People Incorporated) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +7.0% | +48.4% |
| 5-year return | -63.8% | +80.1% |
| Volatility (ann.) | 32.1% | 20.5% |
| Beta vs S&P 500 | 0.98 | 1.09 |
| Max drawdown (3Y) | -33.4% | -26.4% |
| Market cap | $2.9B | $0.8B |
| P/E (trailing) | 6.6 | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PPLI | RMT |
|---|---|---|
| 2022 | -66.0% | -16.8% |
| 2023 | +18.0% | +15.8% |
| 2024 | -17.6% | +14.0% |
| 2025 | +10.5% | +16.1% |
| 2026 | +0.6% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPLI and RMT good diversifiers for each other?
Only partially. A correlation of 0.58 means PPLI and RMT 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 PPLI and RMT?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.54 over the last year and 0.53 over 5 years.
Is RMT a good diversifier for PPLI?
Only partially. A correlation of 0.58 means PPLI and RMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/ppli-vs-rmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ppli-vs-rmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PPLI correlations · RMT correlations
