ED vs MTEX: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Mannatech, Incorporated (MTEX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and MTEX?
Across a 3-year window, the weekly returns of ED and MTEX correlate at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives -0.22, with an annualized covariance of -329.9 %².
Among the 105 assets we track against ED, MTEX ranks #92 by 3-year correlation. The last year tells two different stories: ED led by 38.7 percentage points, +10.2% for ED against -28.5% for MTEX. Risk is not evenly split, since MTEX carries 4.0 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.
ED vs MTEX: side by side
| ED (Consolidated Edison) | MTEX (Mannatech, Incorporated) | |
|---|---|---|
| 1-year return | +10.2% | -28.5% |
| 5-year return | +67.5% | -79.1% |
| Volatility (ann.) | 16.5% | 65.8% |
| Beta vs S&P 500 | -0.21 | 0.48 |
| Max drawdown (3Y) | -17.4% | -74.9% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ED | MTEX |
|---|---|---|
| 2022 | +15.7% | -51.7% |
| 2023 | -1.1% | -53.5% |
| 2024 | +1.5% | +65.8% |
| 2025 | +15.1% | -38.6% |
| 2026 | +10.1% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and MTEX good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ED and MTEX?
The ED/MTEX correlation stands at -0.30 on a 3-year window (1 year: -0.28, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is MTEX a good diversifier for ED?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/ed-vs-mtex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ed-vs-mtex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · MTEX correlations
