RIO vs SQM: Correlation
How closely do Rio Tinto Plc (RIO) and Sociedad Quimica y Minera S.A. (SQM) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIO and SQM?
On 3 years of weekly data the RIO/SQM correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.55 over 3. The 5-year figure is 0.50, and annualized covariance runs at 631.7 %².
By 3-year correlation, SQM places #10 of the 19 assets tracked against RIO. Their 12-month results are close: +77.2% for RIO against +73.3% for SQM. One caveat on sizing: SQM is 1.8 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 SQM: side by side
| RIO (Rio Tinto Plc) | SQM (Sociedad Quimica y Minera S.A.) | |
|---|---|---|
| 1-year return | +77.2% | +73.3% |
| 5-year return | +94.8% | +90.7% |
| Volatility (ann.) | 25.1% | 45.5% |
| Beta vs S&P 500 | 0.70 | 0.78 |
| Max drawdown (3Y) | -24.2% | -51.3% |
| Market cap | $170.4B | $23.0B |
| P/E (trailing) | 14.2 | 16.1 |
| Dividend yield | 4.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIO | SQM |
|---|---|---|
| 2022 | +18.5% | +71.8% |
| 2023 | +11.1% | -18.3% |
| 2024 | -15.4% | -39.4% |
| 2025 | +44.5% | +89.2% |
| 2026 | +37.5% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIO and SQM good diversifiers for each other?
Only partially. A correlation of 0.55 means RIO and SQM 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 SQM?
As of 2026-08-27, the correlation of weekly returns between RIO and SQM is 0.55 over 3 years, 0.54 over 1 year and 0.50 over 5 years.
Is SQM a good diversifier for RIO?
Only partially. A correlation of 0.55 means RIO and SQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/rio-vs-sqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rio-vs-sqm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RIO correlations · SQM correlations
