EME vs MTZ: Correlation
Measured on weekly returns over the past three years, Emcor (EME) and MasTec, Inc. (MTZ) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EME and MTZ?
Across a 3-year window, the weekly returns of EME and MTZ correlate at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.63 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 1009.8 %².
Among the 34 assets we track against EME, MTZ ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTZ ahead by 15.0 points (+24.5% versus +39.5%).
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.
EME vs MTZ: side by side
| EME (Emcor) | MTZ (MasTec, Inc.) | |
|---|---|---|
| 1-year return | +24.5% | +39.5% |
| 5-year return | +540.3% | +170.8% |
| Volatility (ann.) | 34.9% | 45.9% |
| Beta vs S&P 500 | 1.31 | 1.37 |
| Max drawdown (3Y) | -36.2% | -52.8% |
| Market cap | $34.2B | $20.2B |
| P/E (trailing) | 23.8 | 40.1 |
| Dividend yield | 0.09% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EME | MTZ |
|---|---|---|
| 2022 | +16.8% | -7.5% |
| 2023 | +46.0% | -11.3% |
| 2024 | +111.3% | +79.8% |
| 2025 | +35.1% | +59.7% |
| 2026 | +26.9% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EME and MTZ good diversifiers for each other?
Only partially. A correlation of 0.63 means EME and MTZ 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 EME and MTZ?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.37 over the last year and 0.58 over 5 years.
Is MTZ a good diversifier for EME?
Only partially. A correlation of 0.63 means EME and MTZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/eme-vs-mtz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eme-vs-mtz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EME correlations · MTZ correlations
