ADC vs MTEX: Correlation
How closely do Agree Realty Corporation (ADC) and Mannatech, Incorporated (MTEX) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADC and MTEX?
Over the past 3 years, ADC and MTEX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -250.5 %².
Among the 22 assets we track against ADC, MTEX sits near the bottom by co-movement, at rank #20. The last year tells two different stories: ADC led by 33.4 percentage points, +4.9% for ADC against -28.5% for MTEX. Note the risk asymmetry: MTEX runs 4.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ADC vs MTEX: side by side
| ADC (Agree Realty Corporation) | MTEX (Mannatech, Incorporated) | |
|---|---|---|
| 1-year return | +4.9% | -28.5% |
| 5-year return | +21.4% | -79.1% |
| Volatility (ann.) | 16.6% | 65.8% |
| Beta vs S&P 500 | 0.09 | 0.48 |
| Max drawdown (3Y) | -13.0% | -74.9% |
| Market cap | $9.1B | – |
| P/E (trailing) | 39.8 | – |
| Dividend yield | 4.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADC | MTEX |
|---|---|---|
| 2022 | +3.5% | -51.7% |
| 2023 | -7.1% | -53.5% |
| 2024 | +17.2% | +65.8% |
| 2025 | +6.6% | -38.6% |
| 2026 | +4.1% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADC and MTEX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ADC and MTEX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.21 over the last year and -0.17 over 5 years.
Is MTEX a good diversifier for ADC?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adc-vs-mtex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adc-vs-mtex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADC correlations · MTEX correlations
