EMN vs MTX: Correlation
How closely do Eastman Chemical Company (EMN) and Minerals Technologies Inc. (MTX) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMN and MTX?
Across a 3-year window, the weekly returns of EMN and MTX correlate at 0.65, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 605.8 %².
By 3-year correlation, MTX places #6 of the 22 assets tracked against EMN. Neither side won the trailing year by much: +10.8% against +12.0%.
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.
EMN vs MTX: side by side
| EMN (Eastman Chemical Company) | MTX (Minerals Technologies Inc.) | |
|---|---|---|
| 1-year return | +10.8% | +12.0% |
| 5-year return | -22.9% | -6.2% |
| Volatility (ann.) | 30.5% | 30.4% |
| Beta vs S&P 500 | 0.95 | 0.90 |
| Max drawdown (3Y) | -48.4% | -42.5% |
| Market cap | $8.3B | $2.3B |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 4.59% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMN | MTX |
|---|---|---|
| 2022 | -30.4% | -16.7% |
| 2023 | +14.7% | +18.0% |
| 2024 | +5.1% | +7.4% |
| 2025 | -26.9% | -19.4% |
| 2026 | +16.5% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMN and MTX good diversifiers for each other?
Only partially. A correlation of 0.65 means EMN and MTX 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 EMN and MTX?
As of 2026-08-27, the correlation of weekly returns between EMN and MTX is 0.65 over 3 years, 0.66 over 1 year and 0.68 over 5 years.
Is MTX a good diversifier for EMN?
Only partially. A correlation of 0.65 means EMN and MTX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/emn-vs-mtx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/emn-vs-mtx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EMN correlations · MTX correlations
