MNST vs MTRN: Correlation
How closely do Monster Beverage (MNST) and Materion Corporation (MTRN) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNST and MTRN?
Across a 3-year window, the weekly returns of MNST and MTRN correlate at 0.49, moderate. The link has tightened recently: the 1-year correlation (0.63) runs above the 3-year figure (0.49). Stretching to 5 years gives 0.41, with an annualized covariance of 1548.4 %².
Among the 66 assets we track against MNST, MTRN ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTRN ahead by 147.9 points (-24.3% versus +123.6%). Risk is not evenly split, since MNST carries 1.5 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.
MNST vs MTRN: side by side
| MNST (Monster Beverage) | MTRN (Materion Corporation) | |
|---|---|---|
| 1-year return | -24.3% | +123.6% |
| 5-year return | -4.5% | +248.3% |
| Volatility (ann.) | 68.6% | 45.7% |
| Beta vs S&P 500 | 0.80 | 1.51 |
| Max drawdown (3Y) | -54.5% | -47.8% |
| Market cap | $91.5B | $5.1B |
| P/E (trailing) | 43.2 | 54.9 |
| Dividend yield | 0.00% | 0.24% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | MNST | MTRN |
|---|---|---|
| 2022 | +5.7% | -4.3% |
| 2023 | +13.5% | +49.4% |
| 2024 | -8.8% | -23.7% |
| 2025 | +45.9% | +26.4% |
| 2026 | -39.1% | +98.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNST and MTRN good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MNST and MTRN?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.63 over the last year and 0.41 over 5 years.
Is MTRN a good diversifier for MNST?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/mnst-vs-mtrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mnst-vs-mtrn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MNST correlations · MTRN correlations
