CMS vs MTEX: Correlation
How closely do CMS Energy (CMS) and Mannatech, Incorporated (MTEX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and MTEX?
On 3 years of weekly data the CMS/MTEX correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.25 over 3. The 5-year figure is -0.18, and annualized covariance runs at -263.2 %².
Among the 42 assets we track against CMS, MTEX ranks #36 by 3-year correlation. The last year tells two different stories: CMS led by 26.1 percentage points, -2.4% for CMS against -28.5% for MTEX. Risk is not evenly split, since MTEX carries 4.1 times the volatility of the other side.
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.
CMS vs MTEX: side by side
| CMS (CMS Energy) | MTEX (Mannatech, Incorporated) | |
|---|---|---|
| 1-year return | -2.4% | -28.5% |
| 5-year return | +23.8% | -79.1% |
| Volatility (ann.) | 16.2% | 65.8% |
| Beta vs S&P 500 | -0.01 | 0.48 |
| Max drawdown (3Y) | -13.2% | -74.9% |
| Market cap | $21.4B | – |
| P/E (trailing) | 20.8 | – |
| Dividend yield | 3.21% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CMS | MTEX |
|---|---|---|
| 2022 | +0.2% | -51.7% |
| 2023 | -5.2% | -53.5% |
| 2024 | +18.6% | +65.8% |
| 2025 | +8.1% | -38.6% |
| 2026 | +0.0% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and MTEX good diversifiers for each other?
Yes. With a correlation of -0.25, CMS and MTEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CMS and MTEX?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.21 over the last year and -0.18 over 5 years.
Is MTEX a good diversifier for CMS?
Yes. With a correlation of -0.25, CMS and MTEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cms-vs-mtex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cms-vs-mtex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMS correlations · MTEX correlations
