RMT vs TSQ: Correlation
Measured on weekly returns over the past three years, Royce Micro-Cap Trust, Inc. (RMT) and Townsquare Media, Inc. (TSQ) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and TSQ?
Over the past 3 years, RMT and TSQ moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 437.9 %².
Among the 136 assets we track against RMT, TSQ ranks #77 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RMT outperformed by 53.8 percentage points (+48.4% for RMT against -5.4% for TSQ). Risk is not evenly split, since TSQ carries 2.0 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 TSQ: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | TSQ (Townsquare Media, Inc.) | |
|---|---|---|
| 1-year return | +48.4% | -5.4% |
| 5-year return | +80.1% | -37.3% |
| Volatility (ann.) | 20.5% | 41.8% |
| Beta vs S&P 500 | 1.09 | 1.17 |
| Max drawdown (3Y) | -26.4% | -61.7% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 5.57% | 13.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | TSQ |
|---|---|---|
| 2022 | -16.8% | -45.6% |
| 2023 | +15.8% | +57.3% |
| 2024 | +14.0% | -9.3% |
| 2025 | +16.1% | -37.4% |
| 2026 | +39.6% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and TSQ 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 TSQ?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.56 over the last year and 0.45 over 5 years.
Is TSQ 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?
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-tsq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-tsq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RMT correlations · TSQ correlations
