MTEX vs OGS: Correlation
Mannatech, Incorporated (MTEX) and ONE Gas, Inc. (OGS) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTEX and OGS?
On 3 years of weekly data the MTEX/OGS correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.22). The 5-year figure is -0.12, and annualized covariance runs at -293.4 %².
Among the 34 assets we track against MTEX, OGS ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OGS ahead by 36.0 points (-28.5% versus +7.5%). Risk is not evenly split, since MTEX carries 3.3 times the volatility of the other side.
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.
MTEX vs OGS: side by side
| MTEX (Mannatech, Incorporated) | OGS (ONE Gas, Inc.) | |
|---|---|---|
| 1-year return | -28.5% | +7.5% |
| 5-year return | -79.1% | +32.3% |
| Volatility (ann.) | 65.8% | 20.2% |
| Beta vs S&P 500 | 0.48 | 0.17 |
| Max drawdown (3Y) | -74.9% | -23.0% |
| Market cap | – | $5.0B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 3.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTEX | OGS |
|---|---|---|
| 2022 | -51.7% | +0.6% |
| 2023 | -53.5% | -12.8% |
| 2024 | +65.8% | +13.1% |
| 2025 | -38.6% | +15.6% |
| 2026 | -23.3% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTEX and OGS good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between MTEX and OGS?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.36 over the last year and -0.12 over 5 years.
Is OGS a good diversifier for MTEX?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: MTEX correlations · OGS correlations
