RMT vs SPHR: Correlation
Royce Micro-Cap Trust, Inc. (RMT) and Sphere Entertainment Co. (SPHR) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and SPHR?
On 3 years of weekly data the RMT/SPHR correlation comes out at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.49 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 514.8 %².
By 3-year correlation, SPHR places #87 of the 136 assets tracked against RMT. The last year tells two different stories: SPHR led by 194.3 percentage points, +48.4% for RMT against +242.7% for SPHR. One caveat on sizing: SPHR is 2.5 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.
RMT vs SPHR: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | SPHR (Sphere Entertainment Co.) | |
|---|---|---|
| 1-year return | +48.4% | +242.7% |
| 5-year return | +80.1% | +308.6% |
| Volatility (ann.) | 20.5% | 51.1% |
| Beta vs S&P 500 | 1.09 | 1.54 |
| Max drawdown (3Y) | -26.4% | -52.3% |
| Market cap | $0.8B | $5.3B |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | SPHR |
|---|---|---|
| 2022 | -16.8% | -36.1% |
| 2023 | +15.8% | +63.5% |
| 2024 | +14.0% | +18.7% |
| 2025 | +16.1% | +135.8% |
| 2026 | +39.6% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and SPHR good diversifiers for each other?
Reasonably. At 0.49, RMT and SPHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RMT and SPHR?
The RMT/SPHR correlation stands at 0.49 on a 3-year window (1 year: 0.34, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is SPHR a good diversifier for RMT?
Reasonably. At 0.49, RMT and SPHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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-sphr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rmt-vs-sphr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RMT correlations · SPHR correlations
