MTD vs NNI: Correlation
Measured on weekly returns over the past three years, Mettler Toledo (MTD) and Nelnet, Inc. (NNI) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTD and NNI?
On 3 years of weekly data the MTD/NNI correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 379.6 %².
Among the 38 assets we track against MTD, NNI ranks #13 by 3-year correlation. The trailing year gives MTD the advantage: +9.5% versus -0.2%, a 9.7-point spread.
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 NNI: side by side
| MTD (Mettler Toledo) | NNI (Nelnet, Inc.) | |
|---|---|---|
| 1-year return | +9.5% | -0.2% |
| 5-year return | -11.4% | +67.8% |
| Volatility (ann.) | 31.4% | 22.0% |
| Beta vs S&P 500 | 1.00 | 0.59 |
| Max drawdown (3Y) | -36.6% | -18.5% |
| Market cap | $28.2B | $4.6B |
| P/E (trailing) | 31.7 | 15.3 |
| Dividend yield | 0.00% | 1.01% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MTD | NNI |
|---|---|---|
| 2022 | -14.8% | -6.0% |
| 2023 | -16.1% | -1.6% |
| 2024 | +0.9% | +22.4% |
| 2025 | +13.9% | +25.7% |
| 2026 | +0.9% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTD and NNI good diversifiers for each other?
Only partially. A correlation of 0.55 means MTD and NNI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MTD and NNI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.50 over the last year and 0.49 over 5 years.
Is NNI a good diversifier for MTD?
Only partially. A correlation of 0.55 means MTD and NNI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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/mtd-vs-nni.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtd-vs-nni/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTD correlations · NNI correlations
