RM vs TOP: Correlation
How closely do Regional Management Corp. (RM) and TOP Financial Group Limited - Class A (TOP) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RM and TOP?
On 3 years of weekly data the RM/TOP correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.29). The 5-year figure is -0.07, and annualized covariance runs at -2565.0 %².
TOP is close to the least connected end of RM's tracked universe, ranking #11 of 13. The last year tells two different stories: TOP led by 1238.0 percentage points, -20.1% for RM against +1217.9% for TOP. One caveat on sizing: TOP is 6.0 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.
RM vs TOP: side by side
| RM (Regional Management Corp.) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -20.1% | +1217.9% |
| 5-year return | -32.6% | -9.2% |
| Volatility (ann.) | 38.2% | 230.2% |
| Beta vs S&P 500 | 0.91 | 1.60 |
| Max drawdown (3Y) | -31.0% | -89.6% |
| Market cap | $0.3B | $1.9B |
| P/E (trailing) | 6.9 | – |
| Dividend yield | 3.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RM | TOP |
|---|---|---|
| 2022 | -49.6% | – |
| 2023 | -6.6% | -22.5% |
| 2024 | +41.5% | -59.5% |
| 2025 | +18.1% | -34.3% |
| 2026 | -13.4% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RM and TOP good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RM and TOP?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.52 over the last year and -0.07 over 5 years.
Is TOP a good diversifier for RM?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/rm-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rm-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RM correlations · TOP correlations
