EXEL vs MATX: Correlation
How closely do Exelixis, Inc. (EXEL) and Matson, Inc. (MATX) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXEL and MATX?
On 3 years of weekly data the EXEL/MATX correlation comes out at 0.46, moderate. The past 12 months show a weaker link (0.34) than the 3-year average (0.46). The 5-year figure is 0.28, and annualized covariance runs at 555.3 %².
MATX is one of the assets that tracks EXEL most closely: it ranks #1 out of the 11 assets we track against EXEL. Their recent paths diverged sharply: over the last 12 months MATX outperformed by 69.3 percentage points (+43.5% for EXEL against +112.8% for MATX).
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.
EXEL vs MATX: side by side
| EXEL (Exelixis, Inc.) | MATX (Matson, Inc.) | |
|---|---|---|
| 1-year return | +43.5% | +112.8% |
| 5-year return | +186.9% | +195.6% |
| Volatility (ann.) | 34.8% | 34.6% |
| Beta vs S&P 500 | 0.78 | 0.80 |
| Max drawdown (3Y) | -25.3% | -46.9% |
| Market cap | $13.7B | $6.6B |
| P/E (trailing) | 17.7 | 14.9 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXEL | MATX |
|---|---|---|
| 2022 | -12.3% | -29.5% |
| 2023 | +49.6% | +78.2% |
| 2024 | +38.8% | +24.3% |
| 2025 | +31.6% | -7.2% |
| 2026 | +26.1% | +80.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXEL and MATX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EXEL and MATX?
The EXEL/MATX correlation stands at 0.46 on a 3-year window (1 year: 0.34, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is MATX a good diversifier for EXEL?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
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Related comparisons
Hubs: EXEL correlations · MATX correlations
