MPC vs SHY: Correlation
Measured on weekly returns over the past three years, Marathon Petroleum (MPC) and iShares 1-3 Year Treasury Bond ETF (SHY) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPC and SHY?
On 3 years of weekly data the MPC/SHY correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.18 over 3. The 5-year figure is -0.15, and annualized covariance runs at -9.6 %².
Within MPC's tracked universe of 29 assets, SHY comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MPC outperformed by 105.3 percentage points (+107.8% for MPC against +2.5% for SHY). The rolling one-year correlation moved between -0.40 and 0.04 over the past three years, a moderate range. Risk is not evenly split, since MPC carries 21.4 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.
MPC vs SHY: side by side
| MPC (Marathon Petroleum) | SHY (iShares 1-3 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +107.8% | +2.5% |
| 5-year return | +589.6% | +9.6% |
| Volatility (ann.) | 34.2% | 1.6% |
| Beta vs S&P 500 | 0.48 | 0.00 |
| Max drawdown (3Y) | -44.7% | -1.0% |
| Market cap | $102.1B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 1.10% | 3.65% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.1B |
| Sector / category | Energy | ETF · Bonds |
SHY, iShares's Short Government fund, carries $25.1B under management, a 0.15% expense ratio, a 3.65% trailing dividend yield.
Year-by-year returns
| Year | MPC | SHY |
|---|---|---|
| 2022 | +86.6% | -3.9% |
| 2023 | +30.5% | +4.2% |
| 2024 | -4.1% | +3.9% |
| 2025 | +19.2% | +5.0% |
| 2026 | +126.1% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPC and SHY good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between MPC and SHY?
The MPC/SHY correlation stands at -0.18 on a 3-year window (1 year: -0.27, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is SHY a good diversifier for MPC?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
A reading of -0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mpc-vs-shy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpc-vs-shy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MPC correlations · SHY correlations
