KEY vs MXC: Correlation
Measured on weekly returns over the past three years, KeyCorp (KEY) and Mexco Energy Corporation (MXC) carry a correlation of -0.13, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and MXC?
Over the past 3 years, KEY and MXC moved with a correlation of -0.13, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -259.8 %².
Among the 59 assets we track against KEY, MXC ranks #51 by 3-year correlation. Their 12-month results are close: +18.4% for KEY against +21.6% for MXC. One caveat on sizing: MXC is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
KEY vs MXC: side by side
| KEY (KeyCorp) | MXC (Mexco Energy Corporation) | |
|---|---|---|
| 1-year return | +18.4% | +21.6% |
| 5-year return | +38.0% | +7.2% |
| Volatility (ann.) | 32.1% | 62.1% |
| Beta vs S&P 500 | 1.25 | -0.31 |
| Max drawdown (3Y) | -32.2% | -60.6% |
| Market cap | $23.5B | – |
| P/E (trailing) | 13.0 | 13.0 |
| Dividend yield | 3.71% | 1.02% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | KEY | MXC |
|---|---|---|
| 2022 | -21.7% | +33.0% |
| 2023 | -11.5% | -26.2% |
| 2024 | +25.3% | +24.6% |
| 2025 | +26.2% | -10.8% |
| 2026 | +8.8% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and MXC good diversifiers for each other?
Yes. With a correlation of -0.13, KEY and MXC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KEY and MXC?
Using weekly returns as of 2026-08-27: -0.13 over 3 years, with -0.14 over the last year and -0.01 over 5 years.
Is MXC a good diversifier for KEY?
Yes. With a correlation of -0.13, KEY and MXC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.13 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/key-vs-mxc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/key-vs-mxc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KEY correlations · MXC correlations
