MTEX vs SBAC: Correlation
How closely do Mannatech, Incorporated (MTEX) and SBA Communications (SBAC) 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 MTEX and SBAC?
On 3 years of weekly data the MTEX/SBAC correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.11 over 1 year against -0.18 over 3. The 5-year figure is -0.12, and annualized covariance runs at -356.2 %².
By 3-year correlation, SBAC places #9 of the 34 assets tracked against MTEX. Their recent paths diverged sharply: over the last 12 months SBAC outperformed by 20.6 percentage points (-28.5% for MTEX against -7.9% for SBAC). One caveat on sizing: MTEX is 2.2 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.
MTEX vs SBAC: side by side
| MTEX (Mannatech, Incorporated) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | -28.5% | -7.9% |
| 5-year return | -79.1% | -43.3% |
| Volatility (ann.) | 65.8% | 30.1% |
| Beta vs S&P 500 | 0.48 | 0.42 |
| Max drawdown (3Y) | -74.9% | -32.2% |
| Market cap | – | $19.8B |
| P/E (trailing) | – | 20.0 |
| Dividend yield | 0.00% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | MTEX | SBAC |
|---|---|---|
| 2022 | -51.7% | -27.3% |
| 2023 | -53.5% | -8.2% |
| 2024 | +65.8% | -18.2% |
| 2025 | -38.6% | -3.1% |
| 2026 | -23.3% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTEX and SBAC good diversifiers for each other?
Yes. With a correlation of -0.18, MTEX and SBAC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MTEX and SBAC?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.11 over the last year and -0.12 over 5 years.
Is SBAC a good diversifier for MTEX?
Yes. With a correlation of -0.18, MTEX and SBAC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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/mtex-vs-sbac.json
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Related comparisons
Hubs: MTEX correlations · SBAC correlations
