GEV vs MTZ: Correlation
Measured on weekly returns over the past three years, GE Vernova (GEV) and MasTec, Inc. (MTZ) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEV and MTZ?
Across a 3-year window, the weekly returns of GEV and MTZ correlate at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.57). Stretching to 5 years gives n/a, with an annualized covariance of 1134.9 %².
By 3-year correlation, MTZ places #6 of the 33 assets tracked against GEV. The trailing year gives GEV the advantage: +53.6% versus +39.5%, a 14.1-point spread.
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.
GEV vs MTZ: side by side
| GEV (GE Vernova) | MTZ (MasTec, Inc.) | |
|---|---|---|
| 1-year return | +53.6% | +39.5% |
| 5-year return | n/a | +170.8% |
| Volatility (ann.) | 45.8% | 45.9% |
| Beta vs S&P 500 | 1.42 | 1.37 |
| Max drawdown (3Y) | -38.3% | -52.8% |
| Market cap | $254.0B | $20.2B |
| P/E (trailing) | 27.3 | 40.1 |
| Dividend yield | 0.18% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GEV | MTZ |
|---|---|---|
| 2022 | – | -7.5% |
| 2023 | – | -11.3% |
| 2024 | – | +79.8% |
| 2025 | +99.0% | +59.7% |
| 2026 | +46.2% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEV and MTZ good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GEV and MTZ?
As of 2026-08-27, the correlation of weekly returns between GEV and MTZ is 0.57 over 3 years, 0.40 over 1 year and n/a over 5 years.
Is MTZ a good diversifier for GEV?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/gev-vs-mtz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gev-vs-mtz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GEV correlations · MTZ correlations
