MTN vs YTRA: Correlation
Vail Resorts, Inc. (MTN) and Yatra Online, Inc. (YTRA) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTN and YTRA?
On 3 years of weekly data the MTN/YTRA correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 594.5 %².
Within MTN's tracked universe of 11 assets, YTRA comes in at #6 by 3-year correlation. The last year tells two different stories: MTN led by 24.2 percentage points, -5.4% for MTN against -29.6% for YTRA. Note the risk asymmetry: YTRA runs 1.9 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.
MTN vs YTRA: side by side
| MTN (Vail Resorts, Inc.) | YTRA (Yatra Online, Inc.) | |
|---|---|---|
| 1-year return | -5.4% | -29.6% |
| 5-year return | -41.0% | -46.2% |
| Volatility (ann.) | 29.1% | 56.1% |
| Beta vs S&P 500 | 0.68 | 1.03 |
| Max drawdown (3Y) | -45.7% | -77.4% |
| Market cap | $5.2B | $0.1B |
| P/E (trailing) | 32.1 | – |
| Dividend yield | 5.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTN | YTRA |
|---|---|---|
| 2022 | -24.9% | +39.3% |
| 2023 | -7.1% | -32.4% |
| 2024 | -8.0% | -22.7% |
| 2025 | -24.9% | +41.3% |
| 2026 | +12.5% | -44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTN and YTRA good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MTN and YTRA?
As of 2026-08-27, the correlation of weekly returns between MTN and YTRA is 0.36 over 3 years, 0.26 over 1 year and 0.32 over 5 years.
Is YTRA a good diversifier for MTN?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mtn-vs-ytra.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtn-vs-ytra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTN correlations · YTRA correlations
