MP vs. USAR

Last updated Aug 1, 2026

MP (MP Materials Corp.) and USAR (USA Rare Earth, Inc) are both stocks. Both operate in the Other Industrial Metals & Mining industry within the Basic Materials sector. Over the past year, MP returned -35.04% vs 7.25% for USAR. Their 0.64 correlation means they have sometimes moved together and sometimes differently.

Performance

MP vs. USAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MP Materials Corp. (MP) and USA Rare Earth, Inc (USAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MP achieves a -18.11% return, which is significantly lower than USAR's 25.63% return.

MP

• 1D: -0.70%
• 1M: -22.40%
• 6M: -29.61%
• YTD: -18.11%
• 1Y: -35.04%
• 3Y*: 21.47%
• 5Y*: 1.92%
• 10Y*: —
• ALL TIME*: 26.39%

USAR

• 1D: 2.05%
• 1M: -21.93%
• 6M: -33.32%
• YTD: 25.63%
• 1Y: 7.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MP MP Materials Corp.	$269.01M	$254.79M	$346.46M
USAR USA Rare Earth, Inc	$161.50M	$169.19M	$327.63M

MP vs. USAR - Yearly Performance Comparison

	2026 (YTD)	2025
MP MP Materials Corp.	-18.11%	107.22%
USAR USA Rare Earth, Inc	25.63%	16.32%

Correlation

The correlation between MP and USAR is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.64

The correlation between MP and USAR shifts across timeframes, from 0.64 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MP : $7.36B USAR : $1.44B
EPS MP : -$0.57 USAR : -$4.98
PS Ratio MP : 16.91 USAR : 3.91
Total Revenue (TTM) MP : $305.30M USAR : $319.83M
Gross Profit (TTM) MP : $25.30M USAR : $253.66M
EBITDA (TTM) MP : $1.52M USAR : -$324.99M

Return for Risk

MP vs. USAR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MP

MP Risk / Return Rank: 26
MP Sharpe Ratio Rank: 24
MP Sortino Ratio Rank: 27
MP Omega Ratio Rank: 28
MP Calmar Ratio Rank: 25
MP Martin Ratio Rank: 25

USAR

USAR Risk / Return Rank: 55
USAR Sharpe Ratio Rank: 51
USAR Sortino Ratio Rank: 63
USAR Omega Ratio Rank: 57
USAR Calmar Ratio Rank: 52
USAR Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MP vs. USAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MP Materials Corp. (MP) and USA Rare Earth, Inc (USAR). 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	USAR	Difference
Sharpe ratio: Return per unit of total volatility	-0.44	0.15	-0.59
Sortino ratio: Return per unit of downside risk	-0.24	1.14	-1.38
Omega ratio: Gain probability vs. loss probability	0.97	1.12	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.54	0.26	-0.79
Martin ratio: Return relative to average drawdown	-0.90	0.39	-1.28

MP vs. USAR - Sharpe Ratio Comparison

The current MP Sharpe Ratio is -0.44, which is lower than the USAR Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of MP and USAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MP vs. USAR - Drawdown Comparison

The maximum MP drawdown since its inception was -81.99%, which is greater than USAR's maximum drawdown of -69.23%. Use the drawdown chart below to compare losses from any high point for MP and USAR.

Drawdown Indicators

	MP	USAR	Difference
Max Drawdown Largest peak-to-trough decline	-81.99%	-69.23%	-12.76%
Max Drawdown (1Y) Largest decline over 1 year	-61.38%	-69.23%	+7.85%
Max Drawdown (3Y) Largest decline over 3 years	-61.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-81.99%	—	—
Current Drawdown Current decline from peak	-58.06%	-61.35%	+3.29%
Average Drawdown Average peak-to-trough decline	-42.72%	-41.96%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.61%	45.71%	-9.10%

Volatility

MP vs. USAR - Volatility Comparison

The current volatility for MP Materials Corp. (MP) is 20.22%, while USA Rare Earth, Inc (USAR) has a volatility of 24.93%. This indicates that MP experiences smaller price fluctuations and is considered to be less risky than USAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MP	USAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.22%	24.93%	-4.71%
Volatility (6M) Calculated over the trailing 6-month period	50.61%	73.39%	-22.78%
Volatility (1Y) Calculated over the trailing 1-year period	74.63%	116.87%	-42.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.99%	153.03%	-83.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.47%	153.03%	-80.56%

Dividends

MP vs. USAR - Dividend Comparison

Neither MP nor USAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both MP and USAR in my portfolio?

MP and USAR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MP or USAR?

USAR has higher volatility (24.93%) compared to MP (20.22%). In terms of maximum drawdown, MP dropped -81.99% vs USAR's -69.23%.

Which has better risk-adjusted returns?

USAR currently has the higher Sharpe Ratio (0.15 vs -0.44), 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.