AVNT vs MTRN: Correlation
Avient Corporation (AVNT) and Materion Corporation (MTRN) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNT and MTRN?
On 3 years of weekly data the AVNT/MTRN correlation comes out at 0.66, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.66 over 3. The 5-year figure is 0.66, and annualized covariance runs at 1117.1 %².
Within AVNT's tracked universe of 35 assets, MTRN comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTRN ahead by 101.9 points (+21.7% versus +123.6%).
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.
AVNT vs MTRN: side by side
| AVNT (Avient Corporation) | MTRN (Materion Corporation) | |
|---|---|---|
| 1-year return | +21.7% | +123.6% |
| 5-year return | -3.6% | +248.3% |
| Volatility (ann.) | 36.9% | 45.7% |
| Beta vs S&P 500 | 1.33 | 1.51 |
| Max drawdown (3Y) | -46.9% | -47.8% |
| Market cap | $4.1B | $5.1B |
| P/E (trailing) | 23.9 | 54.9 |
| Dividend yield | 2.45% | 0.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVNT | MTRN |
|---|---|---|
| 2022 | -38.2% | -4.3% |
| 2023 | +26.4% | +49.4% |
| 2024 | +0.6% | -23.7% |
| 2025 | -21.2% | +26.4% |
| 2026 | +43.9% | +98.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVNT and MTRN good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVNT and MTRN?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.68 over the last year and 0.66 over 5 years.
Is MTRN a good diversifier for AVNT?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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/avnt-vs-mtrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avnt-vs-mtrn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVNT correlations · MTRN correlations
