ARRY vs MNTK: Correlation
Array Technologies, Inc. (ARRY) and Montauk Renewables, Inc. (MNTK) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARRY and MNTK?
Across a 3-year window, the weekly returns of ARRY and MNTK correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 2279.2 %².
By 3-year correlation, MNTK places #8 of the 14 assets tracked against ARRY. The last year tells two different stories: MNTK led by 30.5 percentage points, -48.3% for ARRY against -17.8% for MNTK.
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.
ARRY vs MNTK: side by side
| ARRY (Array Technologies, Inc.) | MNTK (Montauk Renewables, Inc.) | |
|---|---|---|
| 1-year return | -48.3% | -17.8% |
| 5-year return | -75.3% | -78.7% |
| Volatility (ann.) | 73.3% | 74.0% |
| Beta vs S&P 500 | 1.37 | 1.62 |
| Max drawdown (3Y) | -84.9% | -89.6% |
| Market cap | $0.7B | $0.3B |
| P/E (trailing) | – | 36.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARRY | MNTK |
|---|---|---|
| 2022 | +23.2% | +7.6% |
| 2023 | -13.1% | -19.2% |
| 2024 | -64.0% | -55.3% |
| 2025 | +52.6% | -58.0% |
| 2026 | -49.3% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARRY and MNTK good diversifiers for each other?
Reasonably. At 0.42, ARRY and MNTK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARRY and MNTK?
As of 2026-08-27, the correlation of weekly returns between ARRY and MNTK is 0.42 over 3 years, 0.36 over 1 year and 0.38 over 5 years.
Is MNTK a good diversifier for ARRY?
Reasonably. At 0.42, ARRY and MNTK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arry-vs-mntk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arry-vs-mntk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARRY correlations · MNTK correlations
