MTH vs ZBH: Correlation
Meritage Homes Corporation (MTH) and Zimmer Biomet (ZBH) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTH and ZBH?
Over the past 3 years, MTH and ZBH moved with a correlation of 0.48, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 462.2 %².
Among the 35 assets we track against MTH, ZBH ranks #25 by 3-year correlation. Neither side won the trailing year by much: -7.0% against -5.9%. Note the risk asymmetry: MTH runs 1.6 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.
MTH vs ZBH: side by side
| MTH (Meritage Homes Corporation) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -7.0% | -5.9% |
| 5-year return | +34.0% | -28.6% |
| Volatility (ann.) | 39.0% | 24.9% |
| Beta vs S&P 500 | 0.90 | 0.51 |
| Max drawdown (3Y) | -43.0% | -38.8% |
| Market cap | $4.6B | $19.0B |
| P/E (trailing) | 15.0 | 24.6 |
| Dividend yield | 2.52% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | MTH | ZBH |
|---|---|---|
| 2022 | -24.5% | +4.2% |
| 2023 | +90.5% | -3.8% |
| 2024 | -10.2% | -12.5% |
| 2025 | -12.3% | -14.0% |
| 2026 | +8.7% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTH and ZBH good diversifiers for each other?
Reasonably. At 0.48, MTH and ZBH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MTH and ZBH?
The MTH/ZBH correlation stands at 0.48 on a 3-year window (1 year: 0.52, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is ZBH a good diversifier for MTH?
Reasonably. At 0.48, MTH and ZBH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mth-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mth-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTH correlations · ZBH correlations
