RIO vs SID: Correlation
How closely do Rio Tinto Plc (RIO) and Companhia Siderurgica Nacional S.A. (SID) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIO and SID?
Over the past 3 years, RIO and SID moved with a correlation of 0.58, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.44 versus 0.58 over 3 years. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 717.4 %².
By 3-year correlation, SID places #7 of the 19 assets tracked against RIO. The last year tells two different stories: RIO led by 100.9 percentage points, +77.2% for RIO against -23.7% for SID. One caveat on sizing: SID is 2.0 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.
RIO vs SID: side by side
| RIO (Rio Tinto Plc) | SID (Companhia Siderurgica Nacional S.A.) | |
|---|---|---|
| 1-year return | +77.2% | -23.7% |
| 5-year return | +94.8% | -77.7% |
| Volatility (ann.) | 25.1% | 49.3% |
| Beta vs S&P 500 | 0.70 | 1.22 |
| Max drawdown (3Y) | -24.2% | -76.0% |
| 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 | SID |
|---|---|---|
| 2022 | +18.5% | -29.7% |
| 2023 | +11.1% | +69.2% |
| 2024 | -15.4% | -59.6% |
| 2025 | +44.5% | +11.1% |
| 2026 | +37.5% | -33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIO and SID good diversifiers for each other?
Only partially. A correlation of 0.58 means RIO and SID 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 RIO and SID?
As of 2026-08-27, the correlation of weekly returns between RIO and SID is 0.58 over 3 years, 0.44 over 1 year and 0.68 over 5 years.
Is SID a good diversifier for RIO?
Only partially. A correlation of 0.58 means RIO and SID 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?
A reading of 0.58 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/rio-vs-sid.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rio-vs-sid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RIO correlations · SID correlations
