MPT vs TLF: Correlation
Measured on weekly returns over the past three years, Medical Properties Trust, Inc. (MPT) and Tandy Leather Factory, Inc. (TLF) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPT and TLF?
On 3 years of weekly data the MPT/TLF correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.16) than the 3-year average (-0.21). The 5-year figure is -0.05, and annualized covariance runs at -305.4 %².
Out of 11 assets tracked against MPT, TLF lands near the bottom at #8. On 12-month performance TLF holds a 14.1-point edge, -2.1% against +12.0%. Note the risk asymmetry: MPT runs 2.0 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.
MPT vs TLF: side by side
| MPT (Medical Properties Trust, Inc.) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | -2.1% | +12.0% |
| 5-year return | -69.8% | +11.5% |
| Volatility (ann.) | 53.6% | 26.5% |
| Beta vs S&P 500 | 1.05 | 0.23 |
| Max drawdown (3Y) | -55.9% | -34.9% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.58% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPT | TLF |
|---|---|---|
| 2022 | -49.0% | -17.5% |
| 2023 | -50.3% | +0.2% |
| 2024 | -11.5% | +12.4% |
| 2025 | +35.2% | -20.9% |
| 2026 | -16.3% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPT and TLF good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MPT and TLF?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.16 over the last year and -0.05 over 5 years.
Is TLF a good diversifier for MPT?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mpt-vs-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpt-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPT correlations · TLF correlations
