MTRN vs. AA

Last updated Jun 4, 2026

MTRN (Materion Corporation) and AA (Alcoa Corporation) are both stocks. Both are in the Basic Materials sector — MTRN in Other Industrial Metals & Mining, AA in Aluminum. Over the past 5 years, MTRN returned 24.37%/yr vs 16.94%/yr for AA. At a 0.47 correlation, their price movements are largely independent.

Performance

MTRN vs. AA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Materion Corporation (MTRN) and Alcoa Corporation (AA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MTRN achieves a 84.10% return, which is significantly higher than AA's 52.66% return.

MTRN

• 1D: -0.64%
• 1M: 20.73%
• YTD: 84.10%
• 6M: 82.04%
• 1Y: 195.67%
• 3Y*: 28.57%
• 5Y*: 24.37%
• 10Y*: 25.40%

AA

• 1D: -3.50%
• 1M: 29.67%
• YTD: 52.66%
• 6M: 83.95%
• 1Y: 195.08%
• 3Y*: 33.82%
• 5Y*: 16.94%
• 10Y*: —

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

MTRN vs. AA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MTRN Materion Corporation	84.10%	26.43%	-23.67%	49.41%	-4.25%	45.18%	8.08%	33.09%	-6.74%	23.94%
AA Alcoa Corporation	52.66%	42.46%	12.43%	-24.33%	-23.12%	159.05%	7.16%	-19.07%	-50.66%	91.84%

Correlation

The correlation between MTRN and AA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 2, 2016	0.47

Fundamentals

Market Cap MTRN : $4.80B AA : $21.32B
EPS MTRN : $3.65 AA : $3.92
PE Ratio MTRN : 62.53 AA : 20.63
PEG Ratio MTRN : 0.22 AA : 0.06
PS Ratio MTRN : 2.50 AA : 1.67
PB Ratio MTRN : 5.02 AA : 3.12
Total Revenue (TTM) MTRN : $1.91B AA : $12.66B
Gross Profit (TTM) MTRN : $305.29M AA : $948.00M
EBITDA (TTM) MTRN : $166.65M AA : $1.70B

Return for Risk

MTRN vs. AA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MTRN

MTRN Risk / Return Rank: 97
MTRN Sharpe Ratio Rank: 98
MTRN Sortino Ratio Rank: 96
MTRN Omega Ratio Rank: 96
MTRN Calmar Ratio Rank: 97
MTRN Martin Ratio Rank: 98

AA

AA Risk / Return Rank: 95
AA Sharpe Ratio Rank: 97
AA Sortino Ratio Rank: 94
AA Omega Ratio Rank: 91
AA Calmar Ratio Rank: 98
AA Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MTRN vs. AA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Materion Corporation (MTRN) 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.

	MTRN	AA	Difference
Sharpe ratio Return per unit of total volatility	4.56	3.74	+0.82
Sortino ratio Return per unit of downside risk	4.39	3.92	+0.47
Omega ratio Gain probability vs. loss probability	1.61	1.47	+0.14
Calmar ratio Return relative to maximum drawdown	9.50	12.43	-2.93
Martin ratio Return relative to average drawdown	29.56	30.82	-1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MTRN vs. AA - Sharpe Ratio Comparison

The current MTRN Sharpe Ratio is 4.56, which is comparable to the AA Sharpe Ratio of 3.74. The chart below compares the historical Sharpe Ratios of MTRN and AA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MTRN	AA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.56	3.74	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.30	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.26	-0.14

Drawdowns

MTRN vs. AA - Drawdown Comparison

The maximum MTRN drawdown since its inception was -87.53%, roughly equal to the maximum AA drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for MTRN and AA.

Drawdown Indicators

	MTRN	AA	Difference
Max Drawdown Largest peak-to-trough decline	-87.53%	-90.90%	+3.37%
Max Drawdown (1Y) Largest decline over 1 year	-20.73%	-15.80%	-4.93%
Max Drawdown (3Y) Largest decline over 3 years	-47.84%	-52.25%	+4.41%
Max Drawdown (5Y) Largest decline over 5 years	-47.84%	-75.46%	+27.62%
Max Drawdown (10Y) Largest decline over 10 years	-61.99%	—	—
Current Drawdown Current decline from peak	-0.64%	-10.95%	+10.31%
Average Drawdown Average peak-to-trough decline	-39.69%	-46.21%	+6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.65%	6.36%	+0.29%

Volatility

MTRN vs. AA - Volatility Comparison

The current volatility for Materion Corporation (MTRN) is 12.15%, while Alcoa Corporation (AA) has a volatility of 15.13%. This indicates that MTRN experiences smaller price fluctuations and is considered to be less risky than AA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTRN	AA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.15%	15.13%	-2.98%
Volatility (6M) Calculated over the trailing 6-month period	32.31%	38.86%	-6.55%
Volatility (1Y) Calculated over the trailing 1-year period	43.27%	52.62%	-9.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.14%	55.96%	-14.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.11%	55.55%	-15.44%

Dividends

MTRN vs. AA - Dividend Comparison

MTRN's dividend yield for the trailing twelve months is around 0.25%, less than AA's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AA Alcoa Corporation	0.49%	0.75%	1.06%	1.18%	0.88%	0.17%	0.00%	0.00%	0.00%	0.00%	0.32%	0.00%
MTRN Materion Corporation	0.25%	0.45%	0.54%	0.40%	0.57%	0.52%	0.71%	0.73%	0.92%	0.81%	0.95%	1.27%

Financials

MTRN vs. AA - Profitability Comparison

The chart below illustrates the profitability comparison between Materion Corporation and Alcoa Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MTRN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Materion Corporation reported a gross profit of 81.84M and revenue of 549.82M. Therefore, the gross margin over that period was 14.9%.

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%.

MTRN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Materion Corporation reported an operating income of 28.18M and revenue of 549.82M, resulting in an operating margin of 5.1%.

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%.

MTRN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Materion Corporation reported a net income of 19.37M and revenue of 549.82M, resulting in a net margin of 3.5%.

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

Can I hold both MTRN and AA in my portfolio?

MTRN and AA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTRN or AA?

AA has higher volatility (15.13%) compared to MTRN (12.15%). In terms of maximum drawdown, MTRN dropped -87.53% vs AA's -90.90%.

Which has better risk-adjusted returns?

MTRN currently has the higher Sharpe Ratio (4.56 vs 3.74), 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.