MP vs. AA
MP (MP Materials Corp.) and AA (Alcoa Corporation) are both stocks. Both are in the Basic Materials sector — MP in Other Industrial Metals & Mining, AA in Aluminum. Over the past 5 years, MP returned 14.58%/yr vs 15.11%/yr for AA. At a 0.40 correlation, their price movements are largely independent.
Performance
MP vs. AA - Performance Comparison
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Returns By Period
In the year-to-date period, MP achieves a 20.43% return, which is significantly higher than AA's 16.54% return.
MP
- 1D
- 6.64%
- 1M
- 7.36%
- YTD
- 20.43%
- 6M
- 16.93%
- 1Y
- 71.48%
- 3Y*
- 38.76%
- 5Y*
- 14.58%
- 10Y*
- —
AA
- 1D
- -1.81%
- 1M
- -1.22%
- YTD
- 16.54%
- 6M
- 32.22%
- 1Y
- 116.95%
- 3Y*
- 21.52%
- 5Y*
- 15.11%
- 10Y*
- —
MP vs. AA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MP MP Materials Corp. | 20.43% | 223.85% | -21.41% | -18.25% | -46.54% | 41.19% | 224.95% |
AA Alcoa Corporation | 16.54% | 42.46% | 12.43% | -24.33% | -23.12% | 159.05% | 100.78% |
Correlation
The correlation between MP and AA is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2020 | 0.40 |
The correlation between MP and AA shifts across timeframes, from 0.28 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MP:
-$0.53
AA:
$3.92
MP:
26.81
AA:
1.28
MP:
$305.30M
AA:
$12.66B
MP:
$25.30M
AA:
$948.00M
MP:
$1.52M
AA:
$1.70B
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Return for Risk
MP vs. AA — Risk / Return Rank
MP
AA
MP vs. AA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MP Materials Corp. (MP) and Alcoa Corporation (AA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MP | AA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 4.47 | -3.13 |
| Martin ratioReturn relative to average drawdown | 2.21 | 15.91 | -13.70 |
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Drawdowns
MP vs. AA - Drawdown Comparison
The maximum MP drawdown since its inception was -81.99%, smaller than the maximum AA drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for MP and AA.
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Drawdown Indicators
| MP | AA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.99% | -90.90% | +8.91% |
Max Drawdown (1Y)Largest decline over 1 year | -53.79% | -26.33% | -27.46% |
Max Drawdown (3Y)Largest decline over 3 years | -59.47% | -52.25% | -7.22% |
Max Drawdown (5Y)Largest decline over 5 years | -81.99% | -75.46% | -6.53% |
Current DrawdownCurrent decline from peak | -38.33% | -32.02% | -6.31% |
Average DrawdownAverage peak-to-trough decline | -42.59% | -46.10% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.46% | 7.38% | +25.08% |
Volatility
MP vs. AA - Volatility Comparison
MP Materials Corp. (MP) has a higher volatility of 22.99% compared to Alcoa Corporation (AA) at 21.67%. This indicates that MP's price experiences larger fluctuations and is considered to be riskier than AA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MP | AA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.99% | 21.67% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 51.41% | 41.40% | +10.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.82% | 54.92% | +36.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.64% | 56.32% | +13.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.64% | 55.68% | +16.96% |
Dividends
MP vs. AA - Dividend Comparison
MP has not paid dividends to shareholders, while AA's dividend yield for the trailing twelve months is around 0.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | 0.65% | 0.75% | 1.06% | 1.18% | 0.88% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.32% |
MP MP Materials Corp. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
MP vs. AA - Financials Comparison
This section allows you to compare key financial metrics between MP Materials Corp. and Alcoa Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MP vs. AA - Profitability Comparison
MP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported a gross profit of 0.00 and revenue of 90.65M. Therefore, the gross margin over that period was 0.0%.
AA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alcoa Corporation reported a gross profit of 0.00 and revenue of 3.19B. Therefore, the gross margin over that period was 0.0%.
MP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported an operating income of 0.00 and revenue of 90.65M, resulting in an operating margin of 0.0%.
AA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alcoa Corporation reported an operating income of 0.00 and revenue of 3.19B, resulting in an operating margin of 0.0%.
MP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported a net income of -7.97M and revenue of 90.65M, resulting in a net margin of -8.8%.
AA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alcoa Corporation reported a net income of 425.00M and revenue of 3.19B, resulting in a net margin of 13.3%.
Frequently Asked Questions
MP and AA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MP has higher volatility (22.99%) compared to AA (21.67%). In terms of maximum drawdown, MP dropped -81.99% vs AA's -90.90%.
AA currently has the higher Sharpe Ratio (2.14 vs 0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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