Investors focused on the Basic Materials space have likely heard of ArcelorMittal (MT Quick QuoteMT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

ArcelorMittal is a member of the Basic Materials sector. This group includes 242 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MT is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for MT's full-year earnings has moved 6.14% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, MT has returned 4.30% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 3.40% on average. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.

Breaking things down more, MT is a member of the Steel - Producers industry, which includes 25 individual companies and currently sits at #12 in the Zacks Industry Rank. This group has gained an average of 4.53% so far this year, so MT is slightly underperforming its industry in this area.

Investors with an interest in Basic Materials stocks should continue to track MT. The stock will be looking to continue its solid performance.