CME vs MTH: Correlation
CME Group (CME) and Meritage Homes Corporation (MTH) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and MTH?
On 3 years of weekly data the CME/MTH correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.25). The 5-year figure is -0.06, and annualized covariance runs at -196.5 %².
By 3-year correlation, MTH places #40 of the 47 assets tracked against CME. The last year tells two different stories: CME led by 15.1 percentage points, +8.1% for CME against -7.0% for MTH. Note the risk asymmetry: MTH runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CME vs MTH: side by side
| CME (CME Group) | MTH (Meritage Homes Corporation) | |
|---|---|---|
| 1-year return | +8.1% | -7.0% |
| 5-year return | +73.9% | +34.0% |
| Volatility (ann.) | 20.0% | 39.0% |
| Beta vs S&P 500 | 0.12 | 0.90 |
| Max drawdown (3Y) | -31.1% | -43.0% |
| Market cap | $101.0B | $4.6B |
| P/E (trailing) | 23.8 | 15.0 |
| Dividend yield | 1.82% | 2.52% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | MTH |
|---|---|---|
| 2022 | -22.9% | -24.5% |
| 2023 | +31.3% | +90.5% |
| 2024 | +15.4% | -10.2% |
| 2025 | +19.8% | -12.3% |
| 2026 | +5.9% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and MTH good diversifiers for each other?
Yes. With a correlation of -0.25, CME and MTH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CME and MTH?
As of 2026-08-27, the correlation of weekly returns between CME and MTH is -0.25 over 3 years, -0.37 over 1 year and -0.06 over 5 years.
Is MTH a good diversifier for CME?
Yes. With a correlation of -0.25, CME and MTH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/cme-vs-mth.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: CME correlations · MTH correlations
