ANDE vs MTEX: Correlation
Measured on weekly returns over the past three years, The Andersons, Inc. (ANDE) and Mannatech, Incorporated (MTEX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANDE and MTEX?
Across a 3-year window, the weekly returns of ANDE and MTEX correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.22 over 3. Stretching to 5 years gives -0.06, with an annualized covariance of -475.0 %².
Among the 14 assets we track against ANDE, MTEX sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months ANDE outperformed by 87.4 percentage points (+58.9% for ANDE against -28.5% for MTEX). Risk is not evenly split, since MTEX carries 2.0 times the volatility of the other side.
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.
ANDE vs MTEX: side by side
| ANDE (The Andersons, Inc.) | MTEX (Mannatech, Incorporated) | |
|---|---|---|
| 1-year return | +58.9% | -28.5% |
| 5-year return | +128.7% | -79.1% |
| Volatility (ann.) | 33.1% | 65.8% |
| Beta vs S&P 500 | 0.26 | 0.48 |
| Max drawdown (3Y) | -46.9% | -74.9% |
| Market cap | $2.2B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 1.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANDE | MTEX |
|---|---|---|
| 2022 | -7.8% | -51.7% |
| 2023 | +67.0% | -53.5% |
| 2024 | -28.8% | +65.8% |
| 2025 | +33.8% | -38.6% |
| 2026 | +21.0% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANDE and MTEX good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ANDE and MTEX?
The ANDE/MTEX correlation stands at -0.22 on a 3-year window (1 year: -0.32, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is MTEX a good diversifier for ANDE?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ANDE correlations · MTEX correlations
