L vs MTEX: Correlation
How closely do Loews Corporation (L) and Mannatech, Incorporated (MTEX) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are L and MTEX?
Over the past 3 years, L and MTEX moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -283.2 %².
Out of 54 assets tracked against L, MTEX lands near the bottom at #52. The last year tells two different stories: L led by 42.7 percentage points, +14.2% for L against -28.5% for MTEX. Risk is not evenly split, since MTEX carries 4.0 times the volatility of the other side.
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.
L vs MTEX: side by side
| L (Loews Corporation) | MTEX (Mannatech, Incorporated) | |
|---|---|---|
| 1-year return | +14.2% | -28.5% |
| 5-year return | +100.1% | -79.1% |
| Volatility (ann.) | 16.6% | 65.8% |
| Beta vs S&P 500 | 0.33 | 0.48 |
| Max drawdown (3Y) | -12.2% | -74.9% |
| Market cap | $22.5B | – |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 0.23% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | L | MTEX |
|---|---|---|
| 2022 | +1.4% | -51.7% |
| 2023 | +19.8% | -53.5% |
| 2024 | +22.1% | +65.8% |
| 2025 | +24.7% | -38.6% |
| 2026 | +4.5% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are L and MTEX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between L and MTEX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.50 over the last year and -0.15 over 5 years.
Is MTEX a good diversifier for L?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
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Related comparisons
Hubs: L correlations · MTEX correlations
