STLD vs URI: Correlation
Steel Dynamics (STLD) and United Rentals (URI) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STLD and URI?
Over the past 3 years, STLD and URI moved with a correlation of 0.58, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 793.6 %².
Among the 33 assets we track against STLD, URI ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STLD outperformed by 69.6 percentage points (+79.8% for STLD against +10.2% for URI). The rolling one-year correlation moved between 0.33 and 0.76 over the past three years, a moderate range.
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.
STLD vs URI: side by side
| STLD (Steel Dynamics) | URI (United Rentals) | |
|---|---|---|
| 1-year return | +79.8% | +10.2% |
| 5-year return | +262.0% | +204.1% |
| Volatility (ann.) | 34.5% | 39.5% |
| Beta vs S&P 500 | 1.13 | 1.42 |
| Max drawdown (3Y) | -28.7% | -37.0% |
| Market cap | $33.8B | $64.6B |
| P/E (trailing) | 21.4 | 25.4 |
| Dividend yield | 0.87% | 0.71% |
| Sector / category | Materials | Industrials |
Year-by-year returns
| Year | STLD | URI |
|---|---|---|
| 2022 | +60.1% | +7.0% |
| 2023 | +22.8% | +63.6% |
| 2024 | -2.0% | +24.0% |
| 2025 | +50.7% | +15.9% |
| 2026 | +39.9% | +29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STLD and URI good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between STLD and URI?
As of 2026-08-27, the correlation of weekly returns between STLD and URI is 0.58 over 3 years, 0.49 over 1 year and 0.61 over 5 years.
Is URI a good diversifier for STLD?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 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/stld-vs-uri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/stld-vs-uri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: STLD correlations · URI correlations
