MTD vs MXC: Correlation
How closely do Mettler Toledo (MTD) and Mexco Energy Corporation (MXC) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTD and MXC?
Across a 3-year window, the weekly returns of MTD and MXC correlate at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (-0.18). Stretching to 5 years gives -0.07, with an annualized covariance of -350.2 %².
By 3-year correlation, MXC places #33 of the 38 assets tracked against MTD. Over the last 12 months MXC came out ahead by 12.1 percentage points (+9.5% against +21.6%). Note the risk asymmetry: MXC 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.
MTD vs MXC: side by side
| MTD (Mettler Toledo) | MXC (Mexco Energy Corporation) | |
|---|---|---|
| 1-year return | +9.5% | +21.6% |
| 5-year return | -11.4% | +7.2% |
| Volatility (ann.) | 31.4% | 62.1% |
| Beta vs S&P 500 | 1.00 | -0.31 |
| Max drawdown (3Y) | -36.6% | -60.6% |
| Market cap | $28.2B | – |
| P/E (trailing) | 31.7 | 13.0 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MTD | MXC |
|---|---|---|
| 2022 | -14.8% | +33.0% |
| 2023 | -16.1% | -26.2% |
| 2024 | +0.9% | +24.6% |
| 2025 | +13.9% | -10.8% |
| 2026 | +0.9% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTD and MXC 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 MTD and MXC?
The MTD/MXC correlation stands at -0.18 on a 3-year window (1 year: -0.35, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is MXC a good diversifier for MTD?
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?
On the −1 to +1 scale, -0.18 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/mtd-vs-mxc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtd-vs-mxc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTD correlations · MXC correlations
