APA vs MTDR: Correlation
Measured on weekly returns over the past three years, APA Corporation (APA) and Matador Resources Company (MTDR) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and MTDR?
Over the past 3 years, APA and MTDR moved with a correlation of 0.79, which is strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 1330.7 %².
By 3-year correlation, MTDR places #7 of the 43 assets tracked against APA. Correlation aside, the last 12 months split them widely, with APA ahead by 76.7 points (+94.1% versus +17.4%).
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.
APA vs MTDR: side by side
| APA (APA Corporation) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | +94.1% | +17.4% |
| 5-year return | +164.2% | +115.7% |
| Volatility (ann.) | 41.8% | 40.3% |
| Beta vs S&P 500 | 0.38 | 0.49 |
| Max drawdown (3Y) | -67.4% | -46.8% |
| Market cap | $14.8B | $7.0B |
| P/E (trailing) | 8.7 | 9.7 |
| Dividend yield | 2.43% | 2.60% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | MTDR |
|---|---|---|
| 2022 | +76.4% | +55.8% |
| 2023 | -21.2% | +0.6% |
| 2024 | -33.4% | +0.4% |
| 2025 | +11.5% | -22.3% |
| 2026 | +77.3% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and MTDR good diversifiers for each other?
Only partially. A correlation of 0.79 means APA and MTDR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APA and MTDR?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.74 over the last year and 0.81 over 5 years.
Is MTDR a good diversifier for APA?
Only partially. A correlation of 0.79 means APA and MTDR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-mtdr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apa-vs-mtdr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APA correlations · MTDR correlations
