STLD vs WS: Correlation
Steel Dynamics (STLD) and Worthington Steel, Inc. (WS) 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 WS?
Across a 3-year window, the weekly returns of STLD and WS correlate at 0.58, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.58). Stretching to 5 years gives n/a, with an annualized covariance of 1030.5 %².
By 3-year correlation, WS places #15 of the 33 assets tracked against STLD. Their recent paths diverged sharply: over the last 12 months STLD outperformed by 75.0 percentage points (+79.8% for STLD against +4.8% for WS).
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 WS: side by side
| STLD (Steel Dynamics) | WS (Worthington Steel, Inc.) | |
|---|---|---|
| 1-year return | +79.8% | +4.8% |
| 5-year return | +262.0% | n/a |
| Volatility (ann.) | 34.5% | 51.2% |
| Beta vs S&P 500 | 1.13 | 1.67 |
| Max drawdown (3Y) | -28.7% | -51.0% |
| Market cap | $33.8B | $1.7B |
| P/E (trailing) | 21.4 | 201.9 |
| Dividend yield | 0.87% | 1.89% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | STLD | WS |
|---|---|---|
| 2022 | +60.1% | – |
| 2023 | +22.8% | – |
| 2024 | -2.0% | +15.4% |
| 2025 | +50.7% | +11.2% |
| 2026 | +39.9% | -0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STLD and WS good diversifiers for each other?
Only partially. A correlation of 0.58 means STLD and WS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between STLD and WS?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.69 over the last year and n/a over 5 years.
Is WS a good diversifier for STLD?
Only partially. A correlation of 0.58 means STLD and WS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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-ws.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stld-vs-ws/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: STLD correlations · WS correlations
