FANG vs MKZR: Correlation
Diamondback Energy (FANG) and MacKenzie Realty Capital, Inc. (MKZR) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FANG and MKZR?
Across a 3-year window, the weekly returns of FANG and MKZR correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.27 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -885.7 %².
Out of 41 assets tracked against FANG, MKZR lands near the bottom at #37. Their recent paths diverged sharply: over the last 12 months FANG outperformed by 115.3 percentage points (+39.6% for FANG against -75.7% for MKZR). Note the risk asymmetry: MKZR runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FANG vs MKZR: side by side
| FANG (Diamondback Energy) | MKZR (MacKenzie Realty Capital, Inc.) | |
|---|---|---|
| 1-year return | +39.6% | -75.7% |
| 5-year return | +224.9% | n/a |
| Volatility (ann.) | 34.1% | 91.6% |
| Beta vs S&P 500 | 0.32 | 0.74 |
| Max drawdown (3Y) | -42.1% | -97.8% |
| Market cap | $56.1B | – |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 2.13% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | FANG | MKZR |
|---|---|---|
| 2022 | +35.3% | – |
| 2023 | +19.7% | – |
| 2024 | +10.3% | – |
| 2025 | -5.6% | -86.7% |
| 2026 | +35.7% | -63.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FANG and MKZR good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between FANG and MKZR?
As of 2026-08-27, the correlation of weekly returns between FANG and MKZR is -0.27 over 3 years, -0.25 over 1 year and n/a over 5 years.
Is MKZR a good diversifier for FANG?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FANG correlations · MKZR correlations
