RMT vs SN: Correlation
Measured on weekly returns over the past three years, Royce Micro-Cap Trust, Inc. (RMT) and SharkNinja, Inc. (SN) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and SN?
Over the past 3 years, RMT and SN moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 483.7 %².
By 3-year correlation, SN places #56 of the 136 assets tracked against RMT. The trailing year gives SN the advantage: +48.4% versus +60.3%, a 11.9-point spread. Note the risk asymmetry: SN runs 2.1 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.
RMT vs SN: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | SN (SharkNinja, Inc.) | |
|---|---|---|
| 1-year return | +48.4% | +60.3% |
| 5-year return | +80.1% | n/a |
| Volatility (ann.) | 20.5% | 43.5% |
| Beta vs S&P 500 | 1.09 | 1.43 |
| Max drawdown (3Y) | -26.4% | -42.6% |
| Market cap | $0.8B | $27.3B |
| P/E (trailing) | 8.5 | 39.4 |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | SN |
|---|---|---|
| 2022 | -16.8% | – |
| 2023 | +15.8% | – |
| 2024 | +14.0% | +90.3% |
| 2025 | +16.1% | +14.9% |
| 2026 | +39.6% | +72.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and SN good diversifiers for each other?
Only partially. A correlation of 0.54 means RMT and SN 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 RMT and SN?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.60 over the last year and n/a over 5 years.
Is SN a good diversifier for RMT?
Only partially. A correlation of 0.54 means RMT and SN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 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
$ curl https://www.pairbook.io/api/v1/pairs/rmt-vs-sn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-sn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RMT correlations · SN correlations
