ATNI vs MTW: Correlation
Measured on weekly returns over the past three years, ATN International, Inc. (ATNI) and Manitowoc Company, Inc. (The) (MTW) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATNI and MTW?
On 3 years of weekly data the ATNI/MTW correlation comes out at 0.43, moderate. The link has tightened recently: the 1-year correlation (0.57) runs above the 3-year figure (0.43). The 5-year figure is 0.34, and annualized covariance runs at 1367.4 %².
MTW is one of the assets that tracks ATNI most closely: it ranks #3 out of the 11 assets we track against ATNI. On 12-month performance ATNI holds a 7.4-point edge, +95.4% against +88.0%.
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.
ATNI vs MTW: side by side
| ATNI (ATN International, Inc.) | MTW (Manitowoc Company, Inc. (The)) | |
|---|---|---|
| 1-year return | +95.4% | +88.0% |
| 5-year return | -22.3% | -22.9% |
| Volatility (ann.) | 58.6% | 53.7% |
| Beta vs S&P 500 | 0.57 | 1.63 |
| Max drawdown (3Y) | -62.6% | -58.5% |
| Market cap | $0.5B | $0.7B |
| P/E (trailing) | 3.0 | 34.6 |
| Dividend yield | 3.64% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATNI | MTW |
|---|---|---|
| 2022 | +15.3% | -50.7% |
| 2023 | -11.9% | +82.2% |
| 2024 | -55.1% | -45.3% |
| 2025 | +43.8% | +31.3% |
| 2026 | +32.9% | +58.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATNI and MTW good diversifiers for each other?
Reasonably. At 0.43, ATNI and MTW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATNI and MTW?
As of 2026-08-27, the correlation of weekly returns between ATNI and MTW is 0.43 over 3 years, 0.57 over 1 year and 0.34 over 5 years.
Is MTW a good diversifier for ATNI?
Reasonably. At 0.43, ATNI and MTW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ATNI correlations · MTW correlations
