RMT vs SPIR: Correlation
How closely do Royce Micro-Cap Trust, Inc. (RMT) and Spire Global, Inc. (SPIR) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and SPIR?
Across a 3-year window, the weekly returns of RMT and SPIR correlate at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 830.3 %².
Within RMT's tracked universe of 136 assets, SPIR comes in at #118 by 3-year correlation. On 12-month performance SPIR holds a 5.3-point edge, +48.4% against +53.7%. Risk is not evenly split, since SPIR carries 4.6 times the volatility of the other side.
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 SPIR: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | SPIR (Spire Global, Inc.) | |
|---|---|---|
| 1-year return | +48.4% | +53.7% |
| 5-year return | +80.1% | -81.3% |
| Volatility (ann.) | 20.5% | 94.0% |
| Beta vs S&P 500 | 1.09 | 2.35 |
| Max drawdown (3Y) | -26.4% | -66.2% |
| Market cap | $0.8B | $0.6B |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | SPIR |
|---|---|---|
| 2022 | -16.8% | -71.6% |
| 2023 | +15.8% | +1.8% |
| 2024 | +14.0% | +79.9% |
| 2025 | +16.1% | -46.7% |
| 2026 | +39.6% | +86.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and SPIR good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RMT and SPIR?
The RMT/SPIR correlation stands at 0.43 on a 3-year window (1 year: 0.47, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is SPIR a good diversifier for RMT?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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-spir.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-spir/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RMT correlations · SPIR correlations
