MPC vs VATE: Correlation
How closely do Marathon Petroleum (MPC) and INNOVATE Corp. (VATE) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPC and VATE?
Across a 3-year window, the weekly returns of MPC and VATE correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.19 over 3 years. Stretching to 5 years gives -0.07, with an annualized covariance of -797.7 %².
Among the 29 assets we track against MPC, VATE ranks #23 by 3-year correlation. The last year tells two different stories: MPC led by 62.0 percentage points, +107.8% for MPC against +45.8% for VATE. Note the risk asymmetry: VATE runs 3.6 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.
MPC vs VATE: side by side
| MPC (Marathon Petroleum) | VATE (INNOVATE Corp.) | |
|---|---|---|
| 1-year return | +107.8% | +45.8% |
| 5-year return | +589.6% | -79.2% |
| Volatility (ann.) | 34.2% | 122.7% |
| Beta vs S&P 500 | 0.48 | 2.14 |
| Max drawdown (3Y) | -44.7% | -81.0% |
| Market cap | $102.1B | $0.1B |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 1.10% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | MPC | VATE |
|---|---|---|
| 2022 | +86.6% | -49.5% |
| 2023 | +30.5% | -34.2% |
| 2024 | -4.1% | -59.8% |
| 2025 | +19.2% | -8.5% |
| 2026 | +126.1% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPC and VATE good diversifiers for each other?
Yes. With a correlation of -0.19, MPC and VATE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MPC and VATE?
The MPC/VATE correlation stands at -0.19 on a 3-year window (1 year: -0.44, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is VATE a good diversifier for MPC?
Yes. With a correlation of -0.19, MPC and VATE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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-vate.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mpc-vs-vate/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPC correlations · VATE correlations
