MTDR vs TLT: Correlation
Measured on weekly returns over the past three years, Matador Resources Company (MTDR) and iShares 20+ Year Treasury Bond ETF (TLT) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTDR and TLT?
Across a 3-year window, the weekly returns of MTDR and TLT correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.47 versus -0.24 over 3 years. Stretching to 5 years gives -0.22, with an annualized covariance of -130.3 %².
Among the 27 assets we track against MTDR, TLT sits near the bottom by co-movement, at rank #26. Their recent paths diverged sharply: over the last 12 months MTDR outperformed by 17.1 percentage points (+17.4% for MTDR against +0.3% for TLT). One caveat on sizing: MTDR is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MTDR vs TLT: side by side
| MTDR (Matador Resources Company) | TLT (iShares 20+ Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +17.4% | +0.3% |
| 5-year return | +115.7% | -34.0% |
| Volatility (ann.) | 40.3% | 13.5% |
| Beta vs S&P 500 | 0.49 | 0.11 |
| Max drawdown (3Y) | -46.8% | -14.8% |
| Market cap | $7.0B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 2.60% | 4.75% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $41.5B |
| Sector / category | US Listed | ETF · Bonds |
On the fund side, TLT sits in the Long Government category at iShares, with $41.5B under management, a 0.15% expense ratio, a 4.75% trailing dividend yield.
Year-by-year returns
| Year | MTDR | TLT |
|---|---|---|
| 2022 | +55.8% | -31.2% |
| 2023 | +0.6% | +2.8% |
| 2024 | +0.4% | -8.1% |
| 2025 | -22.3% | +4.2% |
| 2026 | +36.7% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTDR and TLT good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MTDR and TLT?
As of 2026-08-27, the correlation of weekly returns between MTDR and TLT is -0.24 over 3 years, -0.47 over 1 year and -0.22 over 5 years.
Is TLT a good diversifier for MTDR?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/mtdr-vs-tlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtdr-vs-tlt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTDR correlations · TLT correlations
