RS vs STLD: Correlation
Measured on weekly returns over the past three years, Reliance, Inc. (RS) and Steel Dynamics (STLD) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RS and STLD?
On 3 years of weekly data the RS/STLD correlation comes out at 0.73, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 637.7 %².
Few assets follow RS as closely as STLD, which ranks #3 of 13 tracked partners. The last year tells two different stories: STLD led by 45.1 percentage points, +34.7% for RS against +79.8% for STLD.
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.
RS vs STLD: side by side
| RS (Reliance, Inc.) | STLD (Steel Dynamics) | |
|---|---|---|
| 1-year return | +34.7% | +79.8% |
| 5-year return | +177.9% | +262.0% |
| Volatility (ann.) | 25.5% | 34.5% |
| Beta vs S&P 500 | 0.77 | 1.13 |
| Max drawdown (3Y) | -22.3% | -28.7% |
| Market cap | $20.0B | $33.8B |
| P/E (trailing) | 22.8 | 21.4 |
| Dividend yield | 1.25% | 0.87% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | RS | STLD |
|---|---|---|
| 2022 | +27.1% | +60.1% |
| 2023 | +40.3% | +22.8% |
| 2024 | -2.3% | -2.0% |
| 2025 | +9.1% | +50.7% |
| 2026 | +37.0% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RS and STLD good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RS and STLD?
As of 2026-08-27, the correlation of weekly returns between RS and STLD is 0.73 over 3 years, 0.75 over 1 year and 0.71 over 5 years.
Is STLD a good diversifier for RS?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/rs-vs-stld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rs-vs-stld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RS correlations · STLD correlations
