ITP vs MKZR: Correlation
How closely do IT Tech Packaging, Inc. (ITP) and MacKenzie Realty Capital, Inc. (MKZR) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITP and MKZR?
Over the past 3 years, ITP and MKZR moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.24). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -2240.2 %².
MKZR is close to the least connected end of ITP's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months ITP outperformed by 65.9 percentage points (-9.8% for ITP against -75.7% for MKZR).
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.
ITP vs MKZR: side by side
| ITP (IT Tech Packaging, Inc.) | MKZR (MacKenzie Realty Capital, Inc.) | |
|---|---|---|
| 1-year return | -9.8% | -75.7% |
| 5-year return | -95.6% | n/a |
| Volatility (ann.) | 94.0% | 91.6% |
| Beta vs S&P 500 | 0.05 | 0.74 |
| Max drawdown (3Y) | -76.1% | -97.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITP | MKZR |
|---|---|---|
| 2022 | -80.0% | – |
| 2023 | -32.6% | – |
| 2024 | +93.5% | – |
| 2025 | -63.3% | -86.7% |
| 2026 | -18.0% | -63.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITP and MKZR good diversifiers for each other?
Yes. With a correlation of -0.24, ITP and MKZR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ITP and MKZR?
As of 2026-08-27, the correlation of weekly returns between ITP and MKZR is -0.24 over 3 years, -0.07 over 1 year and n/a over 5 years.
Is MKZR a good diversifier for ITP?
Yes. With a correlation of -0.24, ITP and MKZR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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: ITP correlations · MKZR correlations
