GRNT vs MTDR: Correlation
How closely do Granite Ridge Resources, Inc. (GRNT) and Matador Resources Company (MTDR) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRNT and MTDR?
Across a 3-year window, the weekly returns of GRNT and MTDR correlate at 0.67, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 1061.7 %².
By 3-year correlation, MTDR places #5 of the 11 assets tracked against GRNT. Their recent paths diverged sharply: over the last 12 months MTDR outperformed by 17.8 percentage points (-0.4% for GRNT against +17.4% for MTDR).
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.
GRNT vs MTDR: side by side
| GRNT (Granite Ridge Resources, Inc.) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | -0.4% | +17.4% |
| 5-year return | -31.9% | +115.7% |
| Volatility (ann.) | 39.2% | 40.3% |
| Beta vs S&P 500 | 0.55 | 0.49 |
| Max drawdown (3Y) | -36.8% | -46.8% |
| Market cap | $0.7B | $7.0B |
| P/E (trailing) | – | 9.7 |
| Dividend yield | 8.80% | 2.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRNT | MTDR |
|---|---|---|
| 2022 | -7.1% | +55.8% |
| 2023 | -28.5% | +0.6% |
| 2024 | +14.9% | +0.4% |
| 2025 | -21.3% | -22.3% |
| 2026 | +12.1% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRNT and MTDR good diversifiers for each other?
Only partially. A correlation of 0.67 means GRNT and MTDR 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 GRNT and MTDR?
As of 2026-08-27, the correlation of weekly returns between GRNT and MTDR is 0.67 over 3 years, 0.72 over 1 year and 0.42 over 5 years.
Is MTDR a good diversifier for GRNT?
Only partially. A correlation of 0.67 means GRNT and MTDR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/grnt-vs-mtdr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/grnt-vs-mtdr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRNT correlations · MTDR correlations
