CF vs MTDR: Correlation
How closely do CF Industries (CF) and Matador Resources Company (MTDR) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and MTDR?
On 3 years of weekly data the CF/MTDR correlation comes out at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 738.9 %².
Within CF's tracked universe of 50 assets, MTDR comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CF ahead by 31.2 points (+48.6% 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.
CF vs MTDR: side by side
| CF (CF Industries) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | +48.6% | +17.4% |
| 5-year return | +211.5% | +115.7% |
| Volatility (ann.) | 32.8% | 40.3% |
| Beta vs S&P 500 | -0.20 | 0.49 |
| Max drawdown (3Y) | -29.2% | -46.8% |
| Market cap | $19.0B | $7.0B |
| P/E (trailing) | 9.3 | 9.7 |
| Dividend yield | 1.59% | 2.60% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CF | MTDR |
|---|---|---|
| 2022 | +22.3% | +55.8% |
| 2023 | -4.7% | +0.6% |
| 2024 | +10.1% | +0.4% |
| 2025 | -7.2% | -22.3% |
| 2026 | +64.9% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and MTDR good diversifiers for each other?
Only partially. A correlation of 0.56 means CF 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 CF and MTDR?
The CF/MTDR correlation stands at 0.56 on a 3-year window (1 year: 0.64, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is MTDR a good diversifier for CF?
Only partially. A correlation of 0.56 means CF 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 0.56 mean?
On the −1 to +1 scale, 0.56 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/cf-vs-mtdr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cf-vs-mtdr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CF correlations · MTDR correlations
