STLD vs. CMC
STLD (Steel Dynamics, Inc.) and CMC (Commercial Metals Company) are both stocks. Both operate in the Steel industry within the Basic Materials sector. Over the past 10 years, STLD returned 28.98%/yr vs 18.73%/yr for CMC. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
STLD vs. CMC - Performance Comparison
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Returns By Period
In the year-to-date period, STLD achieves a 48.57% return, which is significantly higher than CMC's 6.48% return. Over the past 10 years, STLD has outperformed CMC with an annualized return of 28.98%, while CMC has yielded a comparatively lower 18.73% annualized return.
STLD
- 1D
- 0.43%
- 1M
- 4.56%
- YTD
- 48.57%
- 6M
- 43.66%
- 1Y
- 102.05%
- 3Y*
- 36.68%
- 5Y*
- 35.36%
- 10Y*
- 28.98%
CMC
- 1D
- 1.29%
- 1M
- 1.93%
- YTD
- 6.48%
- 6M
- 4.59%
- 1Y
- 52.40%
- 3Y*
- 13.97%
- 5Y*
- 20.76%
- 10Y*
- 18.73%
STLD vs. CMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STLD Steel Dynamics, Inc. | 48.57% | 50.70% | -1.99% | 22.75% | 60.14% | 71.42% | 12.46% | 16.78% | -29.02% | 23.34% |
CMC Commercial Metals Company | 6.48% | 41.52% | 0.41% | 4.99% | 35.05% | 79.83% | -5.45% | 42.81% | -23.17% | 0.33% |
Correlation
The correlation between STLD and CMC is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 1996 | 0.61 |
The correlation between STLD and CMC shifts across timeframes, from 0.61 (all time) to 0.73 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
STLD:
$36.34B
CMC:
$8.21B
STLD:
$9.33
CMC:
$4.50
STLD:
26.89
CMC:
16.30
STLD:
1.94
CMC:
0.98
STLD:
3.97
CMC:
1.86
STLD:
$19.01B
CMC:
$8.39B
STLD:
$2.66B
CMC:
$1.49B
STLD:
$2.23B
CMC:
$905.85M
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Return for Risk
STLD vs. CMC — Risk / Return Rank
STLD
CMC
STLD vs. CMC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Steel Dynamics, Inc. (STLD) and Commercial Metals Company (CMC). 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.
| STLD | CMC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.25 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.05 | 1.76 | +3.29 |
| Martin ratioReturn relative to average drawdown | 16.77 | 4.92 | +11.85 |
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Drawdowns
STLD vs. CMC - Drawdown Comparison
The maximum STLD drawdown since its inception was -87.05%, roughly equal to the maximum CMC drawdown of -83.77%. Use the drawdown chart below to compare losses from any high point for STLD and CMC.
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Drawdown Indicators
| STLD | CMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.05% | -83.77% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -20.33% | -29.96% | +9.63% |
Max Drawdown (3Y)Largest decline over 3 years | -28.66% | -37.63% | +8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -32.20% | -37.63% | +5.43% |
Max Drawdown (10Y)Largest decline over 10 years | -68.46% | -53.78% | -14.68% |
Current DrawdownCurrent decline from peak | -11.24% | -11.64% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -33.25% | -23.51% | -9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.11% | 10.69% | -4.58% |
Volatility
STLD vs. CMC - Volatility Comparison
Steel Dynamics, Inc. (STLD) has a higher volatility of 13.03% compared to Commercial Metals Company (CMC) at 10.69%. This indicates that STLD's price experiences larger fluctuations and is considered to be riskier than CMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STLD | CMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.03% | 10.69% | +2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 26.49% | 25.01% | +1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.30% | 34.61% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.12% | 35.58% | +2.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.39% | 39.77% | -0.38% |
Dividends
STLD vs. CMC - Dividend Comparison
STLD's dividend yield for the trailing twelve months is around 0.81%, less than CMC's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMC Commercial Metals Company | 1.01% | 1.04% | 1.41% | 1.28% | 1.20% | 1.38% | 2.34% | 2.16% | 3.00% | 2.25% | 2.20% | 3.51% |
STLD Steel Dynamics, Inc. | 0.81% | 1.18% | 1.61% | 1.44% | 1.39% | 1.68% | 2.71% | 2.82% | 2.50% | 1.44% | 1.57% | 3.08% |
Financials
STLD vs. CMC - Financials Comparison
This section allows you to compare key financial metrics between Steel Dynamics, Inc. and Commercial Metals Company. 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
STLD vs. CMC - Profitability Comparison
STLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a gross profit of 763.22M and revenue of 5.20B. Therefore, the gross margin over that period was 14.7%.
CMC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Commercial Metals Company reported a gross profit of 387.91M and revenue of 2.13B. Therefore, the gross margin over that period was 18.2%.
STLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported an operating income of 538.00M and revenue of 5.20B, resulting in an operating margin of 10.3%.
CMC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Commercial Metals Company reported an operating income of 154.74M and revenue of 2.13B, resulting in an operating margin of 7.3%.
STLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a net income of 403.44M and revenue of 5.20B, resulting in a net margin of 7.8%.
CMC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Commercial Metals Company reported a net income of 93.03M and revenue of 2.13B, resulting in a net margin of 4.4%.
Frequently Asked Questions
STLD and CMC have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STLD has higher volatility (13.03%) compared to CMC (10.69%). In terms of maximum drawdown, STLD dropped -87.05% vs CMC's -83.77%.
STLD currently has the higher Sharpe Ratio (3.00 vs 1.52), 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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