RMT vs TMCI: Correlation
Royce Micro-Cap Trust, Inc. (RMT) and Treace Medical Concepts, Inc. (TMCI) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and TMCI?
Over the past 3 years, RMT and TMCI moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 958.6 %².
Among the 136 assets we track against RMT, TMCI ranks #76 by 3-year correlation. The last year tells two different stories: RMT led by 86.4 percentage points, +48.4% for RMT against -38.0% for TMCI. One caveat on sizing: TMCI is 4.5 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 TMCI: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | TMCI (Treace Medical Concepts, Inc.) | |
|---|---|---|
| 1-year return | +48.4% | -38.0% |
| 5-year return | +80.1% | -81.5% |
| Volatility (ann.) | 20.5% | 92.1% |
| Beta vs S&P 500 | 1.09 | 2.37 |
| Max drawdown (3Y) | -26.4% | -92.6% |
| Market cap | $0.8B | $0.3B |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | TMCI |
|---|---|---|
| 2022 | -16.8% | +23.3% |
| 2023 | +15.8% | -44.5% |
| 2024 | +14.0% | -41.6% |
| 2025 | +16.1% | -67.1% |
| 2026 | +39.6% | +87.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and TMCI good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RMT and TMCI?
The RMT/TMCI correlation stands at 0.51 on a 3-year window (1 year: 0.50, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is TMCI a good diversifier for RMT?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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-tmci.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rmt-vs-tmci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RMT correlations · TMCI correlations
