SCCO vs SQM: Correlation
How closely do Southern Copper Corporation (SCCO) and Sociedad Quimica y Minera S.A. (SQM) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCCO and SQM?
Over the past 3 years, SCCO and SQM moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 885.1 %².
Within SCCO's tracked universe of 20 assets, SQM comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SCCO ahead by 61.2 points (+134.5% versus +73.3%).
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.
SCCO vs SQM: side by side
| SCCO (Southern Copper Corporation) | SQM (Sociedad Quimica y Minera S.A.) | |
|---|---|---|
| 1-year return | +134.5% | +73.3% |
| 5-year return | +339.2% | +90.7% |
| Volatility (ann.) | 40.8% | 45.5% |
| Beta vs S&P 500 | 1.32 | 0.78 |
| Max drawdown (3Y) | -39.7% | -51.3% |
| Market cap | $182.6B | $23.0B |
| P/E (trailing) | 32.0 | 16.1 |
| Dividend yield | 1.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCCO | SQM |
|---|---|---|
| 2022 | +4.2% | +71.8% |
| 2023 | +50.0% | -18.3% |
| 2024 | +9.4% | -39.4% |
| 2025 | +66.5% | +89.2% |
| 2026 | +55.0% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCCO and SQM good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SCCO and SQM?
The SCCO/SQM correlation stands at 0.48 on a 3-year window (1 year: 0.41, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SQM a good diversifier for SCCO?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/scco-vs-sqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/scco-vs-sqm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCCO correlations · SQM correlations
