RIO vs SGML: Correlation
How closely do Rio Tinto Plc (RIO) and Sigma Lithium Corporation (SGML) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIO and SGML?
On 3 years of weekly data the RIO/SGML correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 1241.7 %².
By 3-year correlation, SGML places #12 of the 19 assets tracked against RIO. On 12-month performance SGML holds a 10.7-point edge, +77.2% against +87.9%. Note the risk asymmetry: SGML runs 3.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
RIO vs SGML: side by side
| RIO (Rio Tinto Plc) | SGML (Sigma Lithium Corporation) | |
|---|---|---|
| 1-year return | +77.2% | +87.9% |
| 5-year return | +94.8% | +69.8% |
| Volatility (ann.) | 25.1% | 97.8% |
| Beta vs S&P 500 | 0.70 | 1.89 |
| Max drawdown (3Y) | -24.2% | -88.9% |
| Market cap | $170.4B | $1.4B |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 4.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIO | SGML |
|---|---|---|
| 2022 | +18.5% | +171.1% |
| 2023 | +11.1% | +11.7% |
| 2024 | -15.4% | -64.4% |
| 2025 | +44.5% | +17.6% |
| 2026 | +37.5% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIO and SGML good diversifiers for each other?
To a limited degree. At 0.51 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 RIO and SGML?
The RIO/SGML correlation stands at 0.51 on a 3-year window (1 year: 0.50, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is SGML a good diversifier for RIO?
To a limited degree. At 0.51 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 0.51 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: RIO correlations · SGML correlations
