KE vs MTNB: Correlation
Kimball Electronics, Inc. (KE) and Matinas Biopharma Holdings, Inc. (MTNB) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KE and MTNB?
Across a 3-year window, the weekly returns of KE and MTNB correlate at 0.37, moderate. The past 12 months show a weaker link (0.20) than the 3-year average (0.37). Stretching to 5 years gives 0.31, with an annualized covariance of 1887.6 %².
By 3-year correlation, MTNB places #12 of the 18 assets tracked against KE. Their recent paths diverged sharply: over the last 12 months KE outperformed by 74.9 percentage points (-15.0% for KE against -89.9% for MTNB). Note the risk asymmetry: MTNB runs 2.9 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.
KE vs MTNB: side by side
| KE (Kimball Electronics, Inc.) | MTNB (Matinas Biopharma Holdings, Inc.) | |
|---|---|---|
| 1-year return | -15.0% | -89.9% |
| 5-year return | +0.6% | -99.5% |
| Volatility (ann.) | 42.0% | 120.2% |
| Beta vs S&P 500 | 1.22 | 1.73 |
| Max drawdown (3Y) | -58.5% | -99.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 21.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KE | MTNB |
|---|---|---|
| 2022 | +3.8% | -50.5% |
| 2023 | +19.3% | -56.8% |
| 2024 | -30.5% | -95.3% |
| 2025 | +48.5% | +14.9% |
| 2026 | -13.4% | -65.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KE and MTNB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KE and MTNB?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.20 over the last year and 0.31 over 5 years.
Is MTNB a good diversifier for KE?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ke-vs-mtnb.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: KE correlations · MTNB correlations
