RMT vs SW: Correlation
Royce Micro-Cap Trust, Inc. (RMT) and Smurfit Westrock (SW) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and SW?
Over the past 3 years, RMT and SW moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 467.1 %².
Among the 136 assets we track against RMT, SW ranks #42 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RMT ahead by 38.7 points (+48.4% versus +9.7%). Note the risk asymmetry: SW runs 2.0 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 SW: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | SW (Smurfit Westrock) | |
|---|---|---|
| 1-year return | +48.4% | +9.7% |
| 5-year return | +80.1% | +2.6% |
| Volatility (ann.) | 20.5% | 40.1% |
| Beta vs S&P 500 | 1.09 | 0.92 |
| Max drawdown (3Y) | -26.4% | -40.5% |
| Market cap | $0.8B | $25.5B |
| P/E (trailing) | 8.5 | 51.7 |
| Dividend yield | 5.57% | 3.57% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | RMT | SW |
|---|---|---|
| 2022 | -16.8% | -28.0% |
| 2023 | +15.8% | +14.1% |
| 2024 | +14.0% | +37.6% |
| 2025 | +16.1% | -26.2% |
| 2026 | +39.6% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and SW good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between RMT and SW?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.57 over the last year and 0.55 over 5 years.
Is SW a good diversifier for RMT?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/rmt-vs-sw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-sw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RMT correlations · SW correlations
