KLXE vs MTR: Correlation
How closely do KLX Energy Services Holdings, Inc. (KLXE) and Mesa Royalty Trust (MTR) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLXE and MTR?
On 3 years of weekly data the KLXE/MTR correlation comes out at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 1545.5 %².
Among the 11 assets we track against KLXE, MTR ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KLXE ahead by 35.3 points (-22.3% versus -57.6%). Note the risk asymmetry: KLXE runs 1.8 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.
KLXE vs MTR: side by side
| KLXE (KLX Energy Services Holdings, Inc.) | MTR (Mesa Royalty Trust) | |
|---|---|---|
| 1-year return | -22.3% | -57.6% |
| 5-year return | -76.5% | -45.0% |
| Volatility (ann.) | 84.9% | 47.8% |
| Beta vs S&P 500 | 0.89 | 0.01 |
| Max drawdown (3Y) | -88.0% | -87.3% |
| Market cap | – | – |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.00% | 6.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KLXE | MTR |
|---|---|---|
| 2022 | +458.4% | +310.9% |
| 2023 | -35.0% | -35.4% |
| 2024 | -55.8% | -54.1% |
| 2025 | -62.0% | -23.6% |
| 2026 | -20.6% | -45.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KLXE and MTR good diversifiers for each other?
Reasonably. At 0.38, KLXE and MTR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KLXE and MTR?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.34 over the last year and 0.37 over 5 years.
Is MTR a good diversifier for KLXE?
Reasonably. At 0.38, KLXE and MTR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/klxe-vs-mtr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/klxe-vs-mtr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KLXE correlations · MTR correlations
