RMT vs ULBI: Correlation
Royce Micro-Cap Trust, Inc. (RMT) and Ultralife Corporation (ULBI) 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 ULBI?
Over the past 3 years, RMT and ULBI moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 592.0 %².
Among the 136 assets we track against RMT, ULBI ranks #88 by 3-year correlation. The last year tells two different stories: RMT led by 54.1 percentage points, +48.4% for RMT against -5.7% for ULBI. Risk is not evenly split, since ULBI carries 2.9 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 ULBI: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | ULBI (Ultralife Corporation) | |
|---|---|---|
| 1-year return | +48.4% | -5.7% |
| 5-year return | +80.1% | -19.1% |
| Volatility (ann.) | 20.5% | 59.1% |
| Beta vs S&P 500 | 1.09 | 1.74 |
| Max drawdown (3Y) | -26.4% | -68.8% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | ULBI |
|---|---|---|
| 2022 | -16.8% | -36.1% |
| 2023 | +15.8% | +76.7% |
| 2024 | +14.0% | +9.2% |
| 2025 | +16.1% | -23.2% |
| 2026 | +39.6% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and ULBI good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RMT and ULBI?
As of 2026-08-27, the correlation of weekly returns between RMT and ULBI is 0.49 over 3 years, 0.46 over 1 year and 0.32 over 5 years.
Is ULBI a good diversifier for RMT?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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-ulbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-ulbi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RMT correlations · ULBI correlations
