RSG vs SHMD: Correlation
Republic Services (RSG) and SCHMID Group N.V. - Class A (SHMD) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSG and SHMD?
Over the past 3 years, RSG and SHMD moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -396.9 %².
Within RSG's tracked universe of 38 assets, SHMD comes in at #31 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SHMD ahead by 34.4 points (-5.6% versus +28.8%). Note the risk asymmetry: SHMD runs 6.0 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.
RSG vs SHMD: side by side
| RSG (Republic Services) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | -5.6% | +28.8% |
| 5-year return | +87.9% | n/a |
| Volatility (ann.) | 16.2% | 96.9% |
| Beta vs S&P 500 | 0.17 | 0.77 |
| Max drawdown (3Y) | -22.5% | -69.6% |
| Market cap | $67.1B | $0.2B |
| P/E (trailing) | 31.0 | – |
| Dividend yield | 1.13% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | RSG | SHMD |
|---|---|---|
| 2022 | -6.2% | – |
| 2023 | +29.6% | – |
| 2024 | +23.0% | – |
| 2025 | +6.4% | +101.1% |
| 2026 | +4.4% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSG and SHMD good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between RSG and SHMD?
As of 2026-08-27, the correlation of weekly returns between RSG and SHMD is -0.24 over 3 years, -0.32 over 1 year and n/a over 5 years.
Is SHMD a good diversifier for RSG?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rsg-vs-shmd.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RSG correlations · SHMD correlations
