Nucor Corporation vs Steel Dynamics Inc.
WatchlistNUE / STLDPrices through Oct 22, 2026
Why these are rivals: #1 and #3 by market value ($59B vs $35B) in Nasdaq's "Steel/Iron Ore" industry; SEC SIC 3312 / 3312 (same major group); #1 and #3 by market value ($59B vs $35B) with SEC SIC 3312 (Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Mean reversion: ADF t-statistic of the spread: -1.56 (needs <= -2.873 (5% critical value))
Business leadership
NUE is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | NUE | STLD | Larger |
|---|---|---|---|
| 2025 | $32.5B | $18.2B | NUE |
| 2024 | $30.7B | $17.5B | NUE |
| 2023 | $34.7B | $18.8B | NUE |
| 2022 | $41.5B | $22.3B | NUE |
| 2021 | $36.5B | $18.4B | NUE |
| 2020 | $20.1B | $9.6B | NUE |
NUE led in every year with figures for both. Market value: NUE $59.2B, STLD $35.1B.
Stock leadership
NUE is ahead now
Measured against the pair's own last 252 trading days.
NUE leads STLD by 1.88 standard deviations: +9.4% over its usual price ratio. 3 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| NUE | +4.2% | +21.2% | +83.6% |
| STLD | -2.9% | +6.6% | +56.0% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.88 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -1.56 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 27.48 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
NUE Nucor Corporation STLD Steel Dynamics Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: NUE relative to STLD, against the 252 sessions before each day. Above 0: NUE ahead; below 0: STLD ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | NUE index | STLD index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 163.08 | 175.66 | +1.88 | NUE ahead |
| 2026-10-21 | 167.18 | 181.57 | +1.72 | NUE ahead |
| 2026-10-20 | 165.26 | 178.93 | +1.81 | NUE ahead |
| 2026-10-19 | 164.77 | 179.52 | +1.69 | NUE ahead |
| 2026-10-16 | 161.96 | 176.13 | +1.75 | NUE ahead |
| 2026-10-15 | 160.95 | 176.29 | +1.61 | NUE ahead |
| 2026-10-14 | 162.48 | 177.87 | +1.64 | NUE ahead |
| 2026-10-13 | 160.39 | 176.20 | +1.58 | NUE ahead |
| 2026-10-12 | 159.14 | 175.10 | +1.56 | NUE ahead |
| 2026-10-09 | 158.20 | 174.55 | +1.51 | NUE ahead |
| 2026-10-08 | 155.55 | 171.47 | +1.55 | NUE ahead |
| 2026-10-07 | 155.74 | 171.41 | +1.60 | NUE ahead |
| 2026-10-06 | 158.66 | 174.39 | +1.64 | NUE ahead |
| 2026-10-05 | 158.88 | 176.50 | +1.42 | NUE ahead |
| 2026-10-02 | 151.91 | 169.87 | +1.29 | NUE ahead |
| 2026-10-01 | 149.13 | 165.61 | +1.45 | NUE ahead |
| 2026-09-30 | 147.72 | 162.27 | +1.71 | NUE ahead |
| 2026-09-29 | 149.29 | 162.48 | +1.94 | NUE ahead |
| 2026-09-28 | 154.51 | 168.70 | +1.89 | NUE ahead |
| 2026-09-25 | 156.25 | 171.09 | +1.84 | NUE ahead |
| 2026-09-24 | 156.70 | 172.22 | +1.77 | NUE ahead |
| 2026-09-23 | 156.08 | 171.55 | +1.79 | NUE ahead |
| 2026-09-22 | 155.25 | 171.33 | +1.71 | NUE ahead |
| 2026-09-21 | 153.19 | 168.40 | +1.82 | NUE ahead |
| 2026-09-18 | 156.96 | 172.26 | +1.86 | NUE ahead |
| 2026-09-17 | 167.56 | 179.65 | +2.44 | NUE ahead |
| 2026-09-16 | 164.74 | 174.44 | +2.74 | NUE ahead |
| 2026-09-15 | 163.56 | 175.16 | +2.47 | NUE ahead |
| 2026-09-14 | 160.91 | 171.73 | +2.57 | NUE ahead |
| 2026-09-11 | 163.95 | 175.58 | +2.49 | NUE ahead |
| 2026-09-10 | 161.44 | 173.60 | +2.39 | NUE ahead |
| 2026-09-09 | 162.99 | 176.24 | +2.26 | NUE ahead |
| 2026-09-08 | 162.03 | 175.96 | +2.14 | NUE ahead |
| 2026-09-04 | 164.98 | 177.24 | +2.38 | NUE ahead |
| 2026-09-03 | 165.87 | 180.15 | +2.09 | NUE ahead |
| 2026-09-02 | 166.82 | 181.33 | +2.03 | NUE ahead |
| 2026-09-01 | 159.20 | 171.41 | +2.22 | NUE ahead |
| 2026-08-31 | 157.76 | 170.33 | +2.12 | NUE ahead |
| 2026-08-28 | 158.30 | 171.83 | +1.97 | NUE ahead |
| 2026-08-27 | 159.49 | 172.69 | +1.99 | NUE ahead |
| 2026-08-26 | 159.76 | 172.73 | +2.00 | NUE ahead |
| 2026-08-25 | 156.44 | 169.20 | +1.97 | NUE ahead |
| 2026-08-24 | 154.60 | 167.88 | +1.86 | NUE ahead |
| 2026-08-21 | 153.96 | 167.45 | +1.79 | NUE ahead |
| 2026-08-20 | 151.97 | 160.36 | +2.40 | NUE ahead |
| 2026-08-19 | 157.19 | 169.15 | +1.96 | NUE ahead |
| 2026-08-18 | 166.96 | 182.92 | +1.56 | NUE ahead |
| 2026-08-17 | 172.32 | 189.03 | +1.52 | NUE ahead |
| 2026-08-14 | 169.94 | 187.28 | +1.40 | NUE ahead |
| 2026-08-13 | 172.07 | 190.77 | +1.27 | NUE ahead |
| 2026-08-12 | 171.77 | 192.71 | +1.02 | NUE ahead |
| 2026-08-11 | 171.86 | 193.08 | +0.97 | NUE ahead |
| 2026-08-10 | 173.54 | 196.68 | +0.79 | NUE ahead |
| 2026-08-07 | 172.29 | 192.17 | +1.07 | NUE ahead |
| 2026-08-06 | 171.89 | 191.46 | +1.08 | NUE ahead |
| 2026-08-05 | 173.62 | 194.74 | +0.93 | NUE ahead |
| 2026-08-04 | 173.18 | 194.11 | +0.93 | NUE ahead |
| 2026-08-03 | 165.12 | 189.19 | +0.53 | NUE ahead |
| 2026-07-31 | 162.59 | 183.98 | +0.73 | NUE ahead |
| 2026-07-30 | 162.44 | 184.89 | +0.62 | NUE ahead |
| 2026-07-29 | 161.79 | 184.77 | +0.55 | NUE ahead |
| 2026-07-28 | 167.86 | 190.19 | +0.68 | NUE ahead |
| 2026-07-27 | 156.64 | 183.25 | +0.12 | near the usual relationship |
| 2026-07-24 | 156.45 | 180.94 | +0.31 | near the usual relationship |
| 2026-07-23 | 152.40 | 176.15 | +0.31 | near the usual relationship |
| 2026-07-22 | 149.08 | 174.74 | +0.08 | near the usual relationship |
| 2026-07-21 | 147.37 | 170.99 | +0.24 | near the usual relationship |
| 2026-07-20 | 145.82 | 168.77 | +0.27 | near the usual relationship |
| 2026-07-17 | 149.53 | 172.45 | +0.33 | near the usual relationship |
| 2026-07-16 | 148.93 | 172.06 | +0.29 | near the usual relationship |
| 2026-07-15 | 149.69 | 172.48 | +0.33 | near the usual relationship |
| 2026-07-14 | 147.98 | 170.86 | +0.29 | near the usual relationship |
| 2026-07-13 | 147.24 | 171.44 | +0.15 | near the usual relationship |
| 2026-07-10 | 143.69 | 167.25 | +0.16 | near the usual relationship |
| 2026-07-09 | 140.47 | 162.60 | +0.24 | near the usual relationship |
| 2026-07-08 | 143.25 | 167.50 | +0.08 | near the usual relationship |
| 2026-07-07 | 143.72 | 168.13 | +0.07 | near the usual relationship |
| 2026-07-06 | 141.51 | 166.27 | +0.00 | near the usual relationship |
| 2026-07-02 | 139.50 | 161.38 | +0.24 | near the usual relationship |
| 2026-07-01 | 138.41 | 162.38 | +0.02 | near the usual relationship |
| 2026-06-30 | 140.77 | 168.02 | -0.26 | near the usual relationship |
| 2026-06-29 | 144.45 | 171.50 | -0.18 | near the usual relationship |
| 2026-06-26 | 151.53 | 179.75 | -0.17 | near the usual relationship |
| 2026-06-25 | 157.29 | 183.79 | +0.08 | near the usual relationship |
| 2026-06-24 | 152.00 | 176.78 | +0.15 | near the usual relationship |
| 2026-06-23 | 151.43 | 178.44 | -0.06 | near the usual relationship |
| 2026-06-22 | 154.78 | 183.77 | -0.18 | near the usual relationship |
| 2026-06-18 | 154.09 | 182.99 | -0.18 | near the usual relationship |
| 2026-06-17 | 159.63 | 197.80 | -0.86 | STLD ahead |
| 2026-06-16 | 163.73 | 200.84 | -0.69 | STLD ahead |
| 2026-06-15 | 163.88 | 199.30 | -0.55 | STLD ahead |
| 2026-06-12 | 168.32 | 207.04 | -0.73 | STLD ahead |
| 2026-06-11 | 164.88 | 204.69 | -0.87 | STLD ahead |
| 2026-06-10 | 158.30 | 196.49 | -0.87 | STLD ahead |
| 2026-06-09 | 160.72 | 197.55 | -0.71 | STLD ahead |
| 2026-06-08 | 160.14 | 195.65 | -0.61 | STLD ahead |
| 2026-06-05 | 160.76 | 196.60 | -0.62 | STLD ahead |
| 2026-06-04 | 165.75 | 202.72 | -0.61 | STLD ahead |
| 2026-06-03 | 162.87 | 201.46 | -0.78 | STLD ahead |
| 2026-06-02 | 163.33 | 198.73 | -0.52 | STLD ahead |
| 2026-06-01 | 158.93 | 191.54 | -0.36 | near the usual relationship |
| 2026-05-29 | 157.99 | 190.49 | -0.36 | near the usual relationship |
| 2026-05-28 | 157.55 | 190.93 | -0.43 | near the usual relationship |
| 2026-05-27 | 155.76 | 189.08 | -0.44 | near the usual relationship |
| 2026-05-26 | 151.85 | 183.42 | -0.36 | near the usual relationship |
| 2026-05-22 | 146.61 | 175.76 | -0.24 | near the usual relationship |
| 2026-05-21 | 143.10 | 169.76 | -0.07 | near the usual relationship |
| 2026-05-20 | 142.61 | 167.17 | +0.11 | near the usual relationship |
| 2026-05-19 | 140.12 | 163.56 | +0.18 | near the usual relationship |
| 2026-05-18 | 143.12 | 167.37 | +0.16 | near the usual relationship |
| 2026-05-15 | 143.47 | 167.93 | +0.15 | near the usual relationship |
| 2026-05-14 | 147.15 | 171.84 | +0.19 | near the usual relationship |
| 2026-05-13 | 146.83 | 173.60 | +0.02 | near the usual relationship |
| 2026-05-12 | 145.24 | 170.46 | +0.13 | near the usual relationship |
| 2026-05-11 | 146.61 | 172.78 | +0.08 | near the usual relationship |
| 2026-05-08 | 143.77 | 172.15 | -0.14 | near the usual relationship |
| 2026-05-07 | 143.26 | 170.55 | -0.05 | near the usual relationship |
| 2026-05-06 | 148.02 | 177.09 | -0.12 | near the usual relationship |
| 2026-05-05 | 146.66 | 173.87 | +0.01 | near the usual relationship |
| 2026-05-04 | 142.70 | 168.28 | +0.09 | near the usual relationship |
| 2026-05-01 | 142.85 | 167.88 | +0.14 | near the usual relationship |
| 2026-04-30 | 142.37 | 167.43 | +0.13 | near the usual relationship |
| 2026-04-29 | 140.54 | 164.29 | +0.22 | near the usual relationship |
| 2026-04-28 | 142.26 | 166.19 | +0.24 | near the usual relationship |
| 2026-04-27 | 135.87 | 164.78 | -0.28 | near the usual relationship |
| 2026-04-24 | 135.42 | 166.06 | -0.42 | near the usual relationship |
| 2026-04-23 | 134.57 | 164.79 | -0.40 | near the usual relationship |
| 2026-04-22 | 135.40 | 166.55 | -0.47 | near the usual relationship |
| 2026-04-21 | 131.48 | 161.24 | -0.42 | near the usual relationship |
| 2026-04-20 | 127.82 | 153.29 | -0.12 | near the usual relationship |
| 2026-04-17 | 123.78 | 146.68 | +0.05 | near the usual relationship |
| 2026-04-16 | 121.24 | 143.33 | +0.08 | near the usual relationship |
| 2026-04-15 | 119.82 | 142.13 | +0.04 | near the usual relationship |
| 2026-04-14 | 120.10 | 143.00 | -0.01 | near the usual relationship |
| 2026-04-13 | 119.86 | 143.13 | -0.04 | near the usual relationship |
| 2026-04-10 | 117.62 | 139.54 | +0.05 | near the usual relationship |
| 2026-04-09 | 116.28 | 139.12 | -0.07 | near the usual relationship |
| 2026-04-08 | 115.12 | 137.34 | -0.03 | near the usual relationship |
| 2026-04-07 | 109.49 | 129.74 | +0.07 | near the usual relationship |
| 2026-04-06 | 107.17 | 129.26 | -0.17 | near the usual relationship |
| 2026-04-02 | 108.99 | 131.95 | -0.23 | near the usual relationship |
| 2026-04-01 | 109.78 | 133.89 | -0.33 | near the usual relationship |
| 2026-03-31 | 106.86 | 131.80 | -0.48 | near the usual relationship |
| 2026-03-30 | 104.11 | 125.78 | -0.20 | near the usual relationship |
| 2026-03-27 | 103.24 | 125.19 | -0.25 | near the usual relationship |
| 2026-03-26 | 104.91 | 127.71 | -0.31 | near the usual relationship |
| 2026-03-25 | 104.38 | 127.02 | -0.31 | near the usual relationship |
| 2026-03-24 | 102.84 | 124.26 | -0.21 | near the usual relationship |
| 2026-03-23 | 101.50 | 122.02 | -0.15 | near the usual relationship |
| 2026-03-20 | 100.21 | 120.05 | -0.10 | near the usual relationship |
| 2026-03-19 | 102.34 | 122.69 | -0.12 | near the usual relationship |
| 2026-03-18 | 101.85 | 123.56 | -0.28 | near the usual relationship |
| 2026-03-17 | 102.43 | 126.40 | -0.52 | STLD ahead |
| 2026-03-16 | 102.84 | 127.61 | -0.60 | STLD ahead |
| 2026-03-13 | 103.31 | 124.92 | -0.25 | near the usual relationship |
| 2026-03-12 | 104.70 | 128.21 | -0.43 | near the usual relationship |
| 2026-03-11 | 108.58 | 134.92 | -0.63 | STLD ahead |
| 2026-03-10 | 107.70 | 133.40 | -0.59 | STLD ahead |
| 2026-03-09 | 107.10 | 133.53 | -0.69 | STLD ahead |
| 2026-03-06 | 106.64 | 132.98 | -0.70 | STLD ahead |
| 2026-03-05 | 108.76 | 139.11 | -1.04 | STLD ahead |
| 2026-03-04 | 111.27 | 141.99 | -1.02 | STLD ahead |
| 2026-03-03 | 112.11 | 144.58 | -1.17 | STLD ahead |
| 2026-03-02 | 114.11 | 147.55 | -1.22 | STLD ahead |
| 2026-02-27 | 111.78 | 141.41 | -0.93 | STLD ahead |
| 2026-02-26 | 110.98 | 140.97 | -0.99 | STLD ahead |
| 2026-02-25 | 110.89 | 140.24 | -0.94 | STLD ahead |
| 2026-02-24 | 110.69 | 139.76 | -0.92 | STLD ahead |
| 2026-02-23 | 113.02 | 143.52 | -1.01 | STLD ahead |
| 2026-02-20 | 113.76 | 141.61 | -0.74 | STLD ahead |
| 2026-02-19 | 113.78 | 139.55 | -0.55 | STLD ahead |
| 2026-02-18 | 116.62 | 141.13 | -0.37 | near the usual relationship |
| 2026-02-17 | 116.05 | 140.53 | -0.38 | near the usual relationship |
| 2026-02-13 | 115.79 | 140.35 | -0.40 | near the usual relationship |
| 2026-02-12 | 119.32 | 146.09 | -0.54 | STLD ahead |
| 2026-02-11 | 122.86 | 150.68 | -0.56 | STLD ahead |
| 2026-02-10 | 121.33 | 147.27 | -0.43 | near the usual relationship |
| 2026-02-09 | 122.02 | 148.46 | -0.46 | near the usual relationship |
| 2026-02-06 | 121.87 | 148.20 | -0.46 | near the usual relationship |
| 2026-02-05 | 117.86 | 141.33 | -0.28 | near the usual relationship |
| 2026-02-04 | 120.04 | 145.62 | -0.44 | near the usual relationship |
| 2026-02-03 | 117.86 | 141.28 | -0.28 | near the usual relationship |
| 2026-02-02 | 114.36 | 136.60 | -0.23 | near the usual relationship |
| 2026-01-30 | 112.31 | 131.49 | +0.04 | near the usual relationship |
| 2026-01-29 | 113.69 | 133.24 | +0.03 | near the usual relationship |
| 2026-01-28 | 109.44 | 127.69 | +0.09 | near the usual relationship |
| 2026-01-27 | 109.69 | 128.62 | +0.02 | near the usual relationship |
| 2026-01-26 | 112.27 | 126.91 | +0.52 | NUE ahead |
| 2026-01-23 | 114.79 | 132.77 | +0.21 | near the usual relationship |
| 2026-01-22 | 113.92 | 130.93 | +0.29 | near the usual relationship |
| 2026-01-21 | 113.90 | 131.68 | +0.21 | near the usual relationship |
| 2026-01-20 | 110.27 | 125.80 | +0.40 | near the usual relationship |
| 2026-01-16 | 110.21 | 127.10 | +0.25 | near the usual relationship |
| 2026-01-15 | 110.46 | 128.22 | +0.16 | near the usual relationship |
| 2026-01-14 | 108.88 | 125.06 | +0.31 | near the usual relationship |
| 2026-01-13 | 107.10 | 124.36 | +0.16 | near the usual relationship |
| 2026-01-12 | 104.88 | 124.00 | -0.09 | near the usual relationship |
| 2026-01-09 | 103.49 | 123.94 | -0.26 | near the usual relationship |
| 2026-01-08 | 106.09 | 126.06 | -0.16 | near the usual relationship |
| 2026-01-07 | 104.15 | 122.89 | -0.07 | near the usual relationship |
| 2026-01-06 | 107.02 | 126.48 | -0.09 | near the usual relationship |
| 2026-01-05 | 106.25 | 125.82 | -0.12 | near the usual relationship |
| 2026-01-02 | 107.05 | 128.92 | -0.35 | near the usual relationship |
| 2025-12-31 | 103.08 | 124.08 | -0.35 | near the usual relationship |
| 2025-12-30 | 104.15 | 125.23 | -0.34 | near the usual relationship |
| 2025-12-29 | 104.58 | 126.59 | -0.43 | near the usual relationship |
| 2025-12-26 | 105.13 | 128.48 | -0.56 | STLD ahead |
| 2025-12-24 | 104.58 | 128.42 | -0.63 | STLD ahead |
| 2025-12-23 | 103.44 | 129.75 | -0.92 | STLD ahead |
| 2025-12-22 | 103.80 | 128.70 | -0.77 | STLD ahead |
| 2025-12-19 | 100.58 | 127.61 | -1.09 | STLD ahead |
| 2025-12-18 | 99.74 | 127.83 | -1.24 | STLD ahead |
| 2025-12-17 | 101.55 | 126.48 | -0.86 | STLD ahead |
| 2025-12-16 | 102.54 | 123.84 | -0.44 | near the usual relationship |
| 2025-12-15 | 102.39 | 123.71 | -0.45 | near the usual relationship |
| 2025-12-12 | 104.34 | 125.92 | -0.44 | near the usual relationship |
| 2025-12-11 | 105.26 | 126.68 | -0.40 | near the usual relationship |
| 2025-12-10 | 103.85 | 125.38 | -0.45 | near the usual relationship |
| 2025-12-09 | 99.94 | 121.13 | -0.51 | STLD ahead |
| 2025-12-08 | 100.67 | 121.65 | -0.47 | near the usual relationship |
| 2025-12-05 | 100.76 | 120.98 | -0.39 | near the usual relationship |
| 2025-12-04 | 102.72 | 123.09 | -0.37 | near the usual relationship |
| 2025-12-03 | 104.09 | 125.58 | -0.46 | near the usual relationship |
| 2025-12-02 | 101.80 | 122.74 | -0.46 | near the usual relationship |
| 2025-12-01 | 101.55 | 122.74 | -0.50 | STLD ahead |
| 2025-11-28 | 100.79 | 122.89 | -0.62 | STLD ahead |
| 2025-11-26 | 100.56 | 122.00 | -0.56 | STLD ahead |
| 2025-11-25 | 98.74 | 120.27 | -0.62 | STLD ahead |
| 2025-11-24 | 97.10 | 118.03 | -0.60 | STLD ahead |
| 2025-11-21 | 96.28 | 115.81 | -0.46 | near the usual relationship |
| 2025-11-20 | 93.02 | 112.11 | -0.49 | near the usual relationship |
| 2025-11-19 | 93.90 | 113.83 | -0.57 | STLD ahead |
| 2025-11-18 | 93.85 | 113.21 | -0.51 | STLD ahead |
| 2025-11-17 | 93.95 | 113.55 | -0.54 | STLD ahead |
| 2025-11-14 | 93.39 | 113.80 | -0.66 | STLD ahead |
| 2025-11-13 | 92.14 | 113.19 | -0.77 | STLD ahead |
| 2025-11-12 | 93.77 | 115.58 | -0.82 | STLD ahead |
| 2025-11-11 | 91.03 | 111.58 | -0.76 | STLD ahead |
| 2025-11-10 | 90.15 | 111.61 | -0.90 | STLD ahead |
| 2025-11-07 | 91.20 | 111.25 | -0.71 | STLD ahead |
| 2025-11-06 | 91.42 | 111.97 | -0.77 | STLD ahead |
| 2025-11-05 | 91.79 | 112.86 | -0.82 | STLD ahead |
| 2025-11-04 | 91.18 | 111.02 | -0.70 | STLD ahead |
| 2025-11-03 | 93.60 | 114.21 | -0.73 | STLD ahead |
| 2025-10-31 | 94.82 | 114.81 | -0.64 | STLD ahead |
| 2025-10-30 | 94.63 | 115.82 | -0.79 | STLD ahead |
| 2025-10-29 | 97.59 | 119.70 | -0.82 | STLD ahead |
| 2025-10-28 | 96.05 | 117.94 | -0.84 | STLD ahead |
| 2025-10-27 | 91.10 | 115.71 | -1.30 | STLD ahead |
| 2025-10-24 | 87.65 | 111.99 | -1.39 | STLD ahead |
| 2025-10-23 | 87.49 | 110.36 | -1.23 | STLD ahead |
| 2025-10-22 | 86.36 | 108.78 | -1.22 | STLD ahead |
| 2025-10-21 | 88.80 | 112.63 | -1.32 | STLD ahead |
| 2025-10-20 | 86.33 | 107.11 | -1.03 | STLD ahead |
| 2025-10-17 | 83.28 | 104.53 | -1.19 | STLD ahead |
| 2025-10-16 | 83.83 | 104.45 | -1.10 | STLD ahead |
| 2025-10-15 | 86.43 | 106.94 | -1.02 | STLD ahead |
| 2025-10-14 | 87.53 | 107.62 | -0.94 | STLD ahead |
| 2025-10-13 | 86.56 | 106.57 | -0.97 | STLD ahead |
| 2025-10-10 | 84.46 | 103.41 | -0.90 | STLD ahead |
| 2025-10-09 | 87.32 | 108.21 | -1.06 | STLD ahead |
| 2025-10-08 | 87.11 | 107.31 | -0.99 | STLD ahead |
| 2025-10-07 | 85.82 | 104.51 | -0.86 | STLD ahead |
| 2025-10-06 | 85.69 | 103.71 | -0.78 | STLD ahead |
| 2025-10-03 | 87.23 | 106.24 | -0.87 | STLD ahead |
| 2025-10-02 | 87.85 | 105.73 | -0.73 | STLD ahead |
| 2025-10-01 | 85.56 | 103.24 | -0.77 | STLD ahead |
| 2025-09-30 | 85.59 | 102.09 | -0.63 | STLD ahead |
| 2025-09-29 | 86.00 | 101.69 | -0.53 | STLD ahead |
| 2025-09-26 | 87.29 | 102.24 | -0.42 | near the usual relationship |
| 2025-09-25 | 85.16 | 99.65 | -0.42 | near the usual relationship |
| 2025-09-24 | 86.20 | 99.85 | -0.31 | near the usual relationship |
| 2025-09-23 | 85.48 | 100.09 | -0.44 | near the usual relationship |
| 2025-09-22 | 85.11 | 101.83 | -0.70 | STLD ahead |
| 2025-09-19 | 84.24 | 101.98 | -0.84 | STLD ahead |
| 2025-09-18 | 84.87 | 102.39 | -0.80 | STLD ahead |
| 2025-09-17 | 90.24 | 100.21 | +0.13 | near the usual relationship |
| 2025-09-16 | 90.32 | 102.27 | -0.10 | near the usual relationship |
| 2025-09-15 | 89.47 | 96.35 | +0.44 | near the usual relationship |
| 2025-09-12 | 89.33 | 95.67 | +0.49 | near the usual relationship |
| 2025-09-11 | 90.84 | 98.11 | +0.39 | near the usual relationship |
| 2025-09-10 | 89.66 | 97.18 | +0.34 | near the usual relationship |
| 2025-09-09 | 89.12 | 95.40 | +0.46 | near the usual relationship |
| 2025-09-08 | 91.01 | 98.51 | +0.34 | near the usual relationship |
| 2025-09-05 | 93.06 | 98.58 | +0.55 | NUE ahead |
| 2025-09-04 | 91.60 | 95.82 | +0.67 | NUE ahead |
| 2025-09-03 | 91.77 | 94.89 | +0.78 | NUE ahead |
| 2025-09-02 | 92.52 | 94.47 | +0.90 | NUE ahead |
| 2025-08-29 | 93.99 | 95.86 | +0.90 | NUE ahead |
| 2025-08-28 | 94.67 | 96.34 | +0.92 | NUE ahead |
| 2025-08-27 | 95.00 | 97.17 | +0.86 | NUE ahead |
| 2025-08-26 | 93.50 | 96.46 | +0.77 | NUE ahead |
| 2025-08-25 | 94.51 | 97.59 | +0.75 | NUE ahead |
| 2025-08-22 | 93.48 | 97.15 | +0.68 | NUE ahead |
| 2025-08-21 | 90.53 | 92.08 | +0.89 | NUE ahead |
| 2025-08-20 | 90.67 | 91.86 | +0.92 | NUE ahead |
| 2025-08-19 | 92.21 | 93.89 | +0.86 | NUE ahead |
| 2025-08-18 | 91.41 | 92.19 | +0.95 | NUE ahead |
| 2025-08-15 | 91.89 | 92.57 | +0.96 | NUE ahead |
| 2025-08-14 | 91.22 | 93.34 | +0.80 | NUE ahead |
| 2025-08-13 | 92.16 | 94.63 | +0.76 | NUE ahead |
| 2025-08-12 | 89.38 | 91.97 | +0.74 | NUE ahead |
| 2025-08-11 | 87.03 | 89.63 | +0.72 | NUE ahead |
| 2025-08-08 | 87.83 | 90.08 | +0.76 | NUE ahead |
| 2025-08-07 | 87.08 | 89.38 | +0.74 | NUE ahead |
| 2025-08-06 | 87.54 | 89.50 | +0.77 | NUE ahead |
| 2025-08-05 | 88.13 | 90.45 | +0.73 | NUE ahead |
| 2025-08-04 | 86.56 | 88.86 | +0.72 | NUE ahead |
| 2025-08-01 | 87.63 | 89.60 | +0.75 | NUE ahead |
| 2025-07-31 | 90.41 | 93.40 | +0.65 | NUE ahead |
| 2025-07-30 | 90.34 | 93.32 | +0.65 | NUE ahead |
| 2025-07-29 | 88.88 | 93.37 | +0.48 | near the usual relationship |
| 2025-07-28 | 91.33 | 95.35 | +0.53 | NUE ahead |
| 2025-07-25 | 92.16 | 95.80 | +0.57 | NUE ahead |
| 2025-07-24 | 89.38 | 92.87 | +0.56 | NUE ahead |
| 2025-07-23 | 91.63 | 95.72 | +0.50 | NUE ahead |
| 2025-07-22 | 90.86 | 96.83 | +0.31 | near the usual relationship |
| 2025-07-21 | 89.83 | 98.51 | +0.05 | near the usual relationship |
| 2025-07-18 | 88.87 | 96.38 | +0.14 | near the usual relationship |
| 2025-07-17 | 88.95 | 96.03 | +0.18 | near the usual relationship |
| 2025-07-16 | 87.08 | 93.34 | +0.24 | near the usual relationship |
| 2025-07-15 | 87.45 | 94.35 | +0.17 | near the usual relationship |
| 2025-07-14 | 89.47 | 97.55 | +0.08 | near the usual relationship |
| 2025-07-11 | 89.99 | 98.90 | +0.00 | near the usual relationship |
| 2025-07-10 | 90.56 | 100.59 | -0.10 | near the usual relationship |
| 2025-07-09 | 88.28 | 99.64 | -0.24 | near the usual relationship |
| 2025-07-08 | 88.30 | 99.61 | -0.24 | near the usual relationship |
| 2025-07-07 | 86.55 | 97.74 | -0.26 | near the usual relationship |
| 2025-07-03 | 87.13 | 97.56 | -0.19 | near the usual relationship |
| 2025-07-02 | 87.75 | 98.16 | -0.19 | near the usual relationship |
| 2025-07-01 | 84.75 | 95.30 | -0.24 | near the usual relationship |
| 2025-06-30 | 81.86 | 93.73 | -0.40 | near the usual relationship |
| 2025-06-27 | 83.06 | 96.08 | -0.49 | near the usual relationship |
| 2025-06-26 | 82.54 | 96.29 | -0.57 | STLD ahead |
| 2025-06-25 | 81.02 | 94.08 | -0.53 | STLD ahead |
| 2025-06-24 | 81.02 | 93.89 | -0.52 | STLD ahead |
| 2025-06-23 | 79.62 | 93.31 | -0.62 | STLD ahead |
| 2025-06-20 | 78.55 | 92.19 | -0.64 | STLD ahead |
| 2025-06-18 | 79.74 | 95.27 | -0.80 | STLD ahead |
| 2025-06-17 | 77.22 | 97.50 | -1.27 | STLD ahead |
| 2025-06-16 | 76.89 | 96.74 | -1.25 | STLD ahead |
| 2025-06-13 | 77.05 | 97.74 | -1.33 | STLD ahead |
| 2025-06-12 | 74.85 | 96.54 | -1.48 | STLD ahead |
| 2025-06-11 | 74.02 | 95.21 | -1.47 | STLD ahead |
| 2025-06-10 | 78.79 | 97.98 | -1.20 | STLD ahead |
| 2025-06-09 | 77.43 | 97.85 | -1.34 | STLD ahead |
| 2025-06-06 | 76.83 | 97.80 | -1.41 | STLD ahead |
| 2025-06-05 | 75.04 | 96.73 | -1.53 | STLD ahead |
| 2025-06-04 | 77.01 | 98.83 | -1.51 | STLD ahead |
| 2025-06-03 | 77.30 | 100.20 | -1.60 | STLD ahead |
| 2025-06-02 | 76.09 | 99.37 | -1.68 | STLD ahead |
| 2025-05-30 | 69.11 | 90.11 | -1.69 | STLD ahead |
| 2025-05-29 | 68.84 | 91.64 | -1.88 | STLD ahead |
| 2025-05-28 | 68.78 | 92.79 | -2.01 | STLD ahead |
| 2025-05-27 | 69.12 | 94.27 | -2.13 | STLD ahead |
| 2025-05-23 | 68.56 | 91.76 | -1.99 | STLD ahead |
| 2025-05-22 | 69.95 | 95.11 | -2.15 | STLD ahead |
| 2025-05-21 | 70.60 | 96.81 | -2.25 | STLD ahead |
| 2025-05-20 | 72.67 | 99.13 | -2.23 | STLD ahead |
| 2025-05-19 | 73.19 | 99.63 | -2.24 | STLD ahead |
| 2025-05-16 | 73.41 | 98.69 | -2.16 | STLD ahead |
| 2025-05-15 | 72.97 | 97.97 | -2.18 | STLD ahead |
| 2025-05-14 | 74.00 | 97.91 | -2.07 | STLD ahead |
| 2025-05-13 | 75.18 | 99.16 | -2.06 | STLD ahead |
| 2025-05-12 | 75.91 | 99.97 | -2.07 | STLD ahead |
| 2025-05-09 | 72.81 | 95.56 | -2.06 | STLD ahead |
| 2025-05-08 | 72.98 | 94.92 | -2.00 | STLD ahead |
| 2025-05-07 | 72.77 | 95.70 | -2.13 | STLD ahead |
| 2025-05-06 | 73.84 | 96.05 | -2.05 | STLD ahead |
| 2025-05-05 | 76.14 | 97.47 | -1.93 | STLD ahead |
| 2025-05-02 | 77.71 | 98.81 | -1.88 | STLD ahead |
| 2025-05-01 | 75.66 | 95.41 | -1.82 | STLD ahead |
| 2025-04-30 | 75.44 | 94.98 | -1.83 | STLD ahead |
| 2025-04-29 | 75.06 | 94.66 | -1.86 | STLD ahead |
| 2025-04-28 | 73.67 | 93.68 | -1.96 | STLD ahead |
| 2025-04-25 | 73.13 | 93.24 | -2.00 | STLD ahead |
| 2025-04-24 | 72.86 | 93.27 | -2.06 | STLD ahead |
| 2025-04-23 | 70.73 | 89.69 | -1.98 | STLD ahead |
| 2025-04-22 | 69.27 | 85.96 | -1.79 | STLD ahead |
| 2025-04-21 | 67.41 | 83.14 | -1.75 | STLD ahead |
| 2025-04-17 | 69.83 | 86.61 | -1.82 | STLD ahead |
| 2025-04-16 | 68.85 | 85.82 | -1.88 | STLD ahead |
| 2025-04-15 | 69.82 | 86.58 | -1.84 | STLD ahead |
| 2025-04-14 | 70.03 | 86.95 | -1.87 | STLD ahead |
| 2025-04-11 | 70.30 | 88.17 | -1.99 | STLD ahead |
| 2025-04-10 | 69.16 | 86.03 | -1.93 | STLD ahead |
| 2025-04-09 | 72.99 | 89.81 | -1.84 | STLD ahead |
| 2025-04-08 | 65.52 | 80.71 | -1.87 | STLD ahead |
| 2025-04-07 | 66.34 | 81.31 | -1.84 | STLD ahead |
| 2025-04-04 | 65.23 | 79.97 | -1.86 | STLD ahead |
| 2025-04-03 | 69.38 | 84.98 | -1.87 | STLD ahead |
| 2025-04-02 | 77.75 | 93.26 | -1.68 | STLD ahead |
| 2025-04-01 | 75.62 | 90.80 | -1.71 | STLD ahead |
| 2025-03-31 | 76.05 | 91.59 | -1.75 | STLD ahead |
| 2025-03-28 | 77.07 | 90.77 | -1.55 | STLD ahead |
| 2025-03-27 | 80.55 | 93.72 | -1.45 | STLD ahead |
| 2025-03-26 | 80.45 | 93.97 | -1.50 | STLD ahead |
| 2025-03-25 | 80.61 | 93.72 | -1.47 | STLD ahead |
| 2025-03-24 | 80.51 | 92.74 | -1.39 | STLD ahead |
| 2025-03-21 | 77.10 | 89.82 | -1.51 | STLD ahead |
| 2025-03-20 | 81.84 | 92.73 | -1.25 | STLD ahead |
| 2025-03-19 | 82.82 | 94.11 | -1.29 | STLD ahead |
| 2025-03-18 | 82.03 | 93.06 | -1.28 | STLD ahead |
| 2025-03-17 | 81.84 | 91.48 | -1.15 | STLD ahead |
| 2025-03-14 | 83.47 | 93.10 | -1.14 | STLD ahead |
| 2025-03-13 | 81.88 | 90.25 | -1.03 | STLD ahead |
| 2025-03-12 | 82.70 | 90.45 | -0.97 | STLD ahead |
| 2025-03-11 | 82.09 | 88.42 | -0.83 | STLD ahead |
| 2025-03-10 | 80.07 | 87.43 | -0.96 | STLD ahead |
| 2025-03-07 | 84.50 | 91.55 | -0.90 | STLD ahead |
| 2025-03-06 | 83.41 | 91.71 | -1.04 | STLD ahead |
| 2025-03-05 | 83.73 | 93.52 | -1.19 | STLD ahead |
| 2025-03-04 | 81.84 | 92.53 | -1.31 | STLD ahead |
| 2025-03-03 | 84.73 | 95.56 | -1.30 | STLD ahead |
| 2025-02-28 | 86.87 | 98.90 | -1.39 | STLD ahead |
| 2025-02-27 | 85.19 | 97.62 | -1.46 | STLD ahead |
| 2025-02-26 | 85.04 | 97.74 | -1.49 | STLD ahead |
| 2025-02-25 | 86.00 | 97.74 | -1.40 | STLD ahead |
| 2025-02-24 | 86.06 | 97.50 | -1.38 | STLD ahead |
| 2025-02-21 | 85.46 | 95.71 | -1.28 | STLD ahead |
| 2025-02-20 | 88.44 | 98.90 | -1.28 | STLD ahead |
| 2025-02-19 | 88.33 | 100.14 | -1.41 | STLD ahead |
| 2025-02-18 | 90.07 | 101.82 | -1.39 | STLD ahead |
| 2025-02-14 | 87.06 | 99.46 | -1.49 | STLD ahead |
| 2025-02-13 | 85.66 | 97.30 | -1.45 | STLD ahead |
| 2025-02-12 | 84.40 | 96.87 | -1.55 | STLD ahead |
| 2025-02-11 | 87.28 | 98.75 | -1.43 | STLD ahead |
| 2025-02-10 | 86.91 | 97.29 | -1.35 | STLD ahead |
| 2025-02-07 | 82.32 | 92.78 | -1.42 | STLD ahead |
| 2025-02-06 | 84.18 | 94.43 | -1.39 | STLD ahead |
| 2025-02-05 | 84.19 | 94.76 | -1.42 | STLD ahead |
| 2025-02-04 | 82.67 | 92.54 | -1.38 | STLD ahead |
| 2025-02-03 | 82.98 | 93.67 | -1.46 | STLD ahead |
| 2025-01-31 | 81.16 | 93.87 | -1.68 | STLD ahead |
| 2025-01-30 | 81.32 | 95.71 | -1.84 | STLD ahead |
| 2025-01-29 | 80.18 | 94.58 | -1.88 | STLD ahead |
| 2025-01-28 | 79.97 | 93.03 | -1.77 | STLD ahead |
| 2025-01-27 | 77.08 | 89.34 | -1.76 | STLD ahead |
| 2025-01-24 | 77.21 | 89.59 | -1.78 | STLD ahead |
| 2025-01-23 | 77.14 | 89.60 | -1.81 | STLD ahead |
| 2025-01-22 | 77.15 | 89.98 | -1.86 | STLD ahead |
| 2025-01-21 | 79.04 | 91.30 | -1.79 | STLD ahead |
| 2025-01-17 | 78.70 | 92.14 | -1.93 | STLD ahead |
| 2025-01-16 | 77.96 | 91.53 | -1.97 | STLD ahead |
| 2025-01-15 | 77.78 | 91.63 | -2.02 | STLD ahead |
| 2025-01-14 | 76.94 | 90.44 | -2.02 | STLD ahead |
| 2025-01-13 | 77.65 | 90.26 | -1.94 | STLD ahead |
| 2025-01-10 | 74.67 | 85.18 | -1.79 | STLD ahead |
| 2025-01-08 | 74.68 | 85.29 | -1.82 | STLD ahead |
| 2025-01-07 | 76.64 | 87.73 | -1.86 | STLD ahead |
| 2025-01-06 | 76.23 | 86.87 | -1.84 | STLD ahead |
| 2025-01-03 | 72.96 | 82.85 | -1.83 | STLD ahead |
| 2025-01-02 | 72.35 | 81.96 | -1.82 | STLD ahead |
| 2024-12-31 | 73.76 | 83.52 | -1.84 | STLD ahead |
| 2024-12-30 | 73.22 | 83.33 | -1.90 | STLD ahead |
| 2024-12-27 | 74.12 | 84.77 | -1.97 | STLD ahead |
| 2024-12-26 | 74.97 | 85.74 | -1.99 | STLD ahead |
| 2024-12-24 | 74.21 | 85.71 | -2.10 | STLD ahead |
| 2024-12-23 | 73.69 | 84.76 | -2.09 | STLD ahead |
| 2024-12-20 | 73.67 | 84.71 | -2.11 | STLD ahead |
| 2024-12-19 | 73.17 | 84.42 | -2.17 | STLD ahead |
| 2024-12-18 | 74.54 | 85.49 | -2.14 | STLD ahead |
| 2024-12-17 | 76.45 | 86.83 | -2.08 | STLD ahead |
| 2024-12-16 | 78.46 | 89.12 | -2.10 | STLD ahead |
| 2024-12-13 | 79.15 | 89.60 | -2.10 | STLD ahead |
| 2024-12-12 | 83.04 | 92.93 | -2.01 | STLD ahead |
| 2024-12-11 | 87.49 | 97.79 | -2.03 | STLD ahead |
| 2024-12-10 | 88.83 | 99.06 | -2.03 | STLD ahead |
| 2024-12-09 | 91.37 | 101.23 | -1.99 | STLD ahead |
| 2024-12-06 | 90.10 | 100.24 | -2.05 | STLD ahead |
| 2024-12-05 | 91.99 | 101.56 | -2.00 | STLD ahead |
| 2024-12-04 | 94.36 | 103.52 | -1.97 | STLD ahead |
| 2024-12-03 | 97.94 | 104.85 | -1.74 | STLD ahead |
| 2024-12-02 | 98.82 | 106.03 | -1.79 | STLD ahead |
| 2024-11-29 | 97.76 | 106.37 | -1.95 | STLD ahead |
| 2024-11-27 | 97.81 | 105.32 | -1.86 | STLD ahead |
| 2024-11-26 | 97.32 | 105.17 | -1.92 | STLD ahead |
| 2024-11-25 | 96.97 | 106.16 | -2.08 | STLD ahead |
| 2024-11-22 | 96.01 | 105.13 | -2.11 | STLD ahead |
| 2024-11-21 | 94.79 | 106.14 | -2.37 | STLD ahead |
| 2024-11-20 | 93.64 | 105.47 | -2.47 | STLD ahead |
| 2024-11-19 | 91.43 | 102.69 | -2.48 | STLD ahead |
| 2024-11-18 | 93.05 | 103.02 | -2.36 | STLD ahead |
| 2024-11-15 | 92.95 | 102.08 | -2.31 | STLD ahead |
| 2024-11-14 | 92.51 | 100.91 | -2.27 | STLD ahead |
| 2024-11-13 | 96.18 | 103.90 | -2.20 | STLD ahead |
| 2024-11-12 | 97.25 | 105.70 | -2.29 | STLD ahead |
| 2024-11-11 | 100.52 | 108.22 | -2.22 | STLD ahead |
| 2024-11-08 | 100.38 | 108.77 | -2.33 | STLD ahead |
| 2024-11-07 | 101.85 | 108.33 | -2.15 | STLD ahead |
| 2024-11-06 | 106.00 | 113.00 | -2.20 | STLD ahead |
| 2024-11-05 | 91.39 | 99.33 | -2.46 | STLD ahead |
| 2024-11-04 | 90.12 | 97.81 | -2.49 | STLD ahead |
| 2024-11-01 | 90.72 | 97.86 | -2.46 | STLD ahead |
| 2024-10-31 | 89.64 | 95.56 | -2.35 | STLD ahead |
| 2024-10-30 | 90.18 | 97.22 | -2.53 | STLD ahead |
| 2024-10-29 | 93.02 | 98.97 | -2.40 | STLD ahead |
| 2024-10-28 | 93.36 | 99.38 | -2.45 | STLD ahead |
| 2024-10-25 | 89.40 | 94.88 | -2.45 | STLD ahead |
| 2024-10-24 | 89.32 | 95.44 | -2.57 | STLD ahead |
| 2024-10-23 | 89.52 | 94.19 | -2.42 | STLD ahead |
| 2024-10-22 | 92.28 | 96.51 | -2.38 | STLD ahead |
| 2024-10-21 | 98.65 | 97.72 | -1.70 | STLD ahead |
| 2024-10-18 | 100.00 | 100.00 | -1.84 | STLD ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 22, 2024 (NUE -6.5%, STLD -1.2%); Jun 18, 2025 (NUE +3.3%, STLD -2.3%); Sep 16, 2025 (NUE +1.0%, STLD +6.2%); Sep 18, 2025 (NUE -6.0%, STLD +2.2%). Upcoming earnings: NUE Oct 26, 2026 (after-hours).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
1 simulated trade to Oct 20, 2026: +13.56% per trade on average after costs, 1 won. One simulated trade is still open (entered Sep 1, 2026).
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long NUE · Short STLD | Nov 17, 2020 | May 17, 2021 | converged | 181 | $1,504.56 | -$143.53 | $1,355.59 (+13.56%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
NUE and STLD at a glance
NUE Nucor Corporation
- Listing
- NYSE · SEC CIK 73309
- Industry
- Steel/Iron Ore · SIC 3312 Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
- Market value
- $59.2B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
STLD Steel Dynamics Inc.
- Listing
- Nasdaq · SEC CIK 1022671
- Industry
- Steel/Iron Ore · SIC 3312 Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
- Market value
- $35.1B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of NUE and STLD
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Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
