MTR vs STTK: Correlation
Measured on weekly returns over the past three years, Mesa Royalty Trust (MTR) and Shattuck Labs, Inc. (STTK) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTR and STTK?
Across a 3-year window, the weekly returns of MTR and STTK correlate at -0.21, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.00) runs above the 3-year figure (-0.21). Stretching to 5 years gives -0.19, with an annualized covariance of -1439.2 %².
Among the 10 assets we track against MTR, STTK sits near the bottom by co-movement, at rank #9. The last year tells two different stories: STTK led by 722.6 percentage points, -57.6% for MTR against +665.0% for STTK. One caveat on sizing: STTK 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.
MTR vs STTK: side by side
| MTR (Mesa Royalty Trust) | STTK (Shattuck Labs, Inc.) | |
|---|---|---|
| 1-year return | -57.6% | +665.0% |
| 5-year return | -45.0% | -63.7% |
| Volatility (ann.) | 47.8% | 145.0% |
| Beta vs S&P 500 | 0.01 | 2.32 |
| Max drawdown (3Y) | -87.3% | -93.5% |
| Market cap | – | $0.8B |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 6.83% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTR | STTK |
|---|---|---|
| 2022 | +310.9% | -73.0% |
| 2023 | -35.4% | +210.0% |
| 2024 | -54.1% | -83.0% |
| 2025 | -23.6% | +201.7% |
| 2026 | -45.9% | +109.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTR and STTK good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between MTR and STTK?
The MTR/STTK correlation stands at -0.21 on a 3-year window (1 year: -0.00, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is STTK a good diversifier for MTR?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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
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Related comparisons
Hubs: MTR correlations · STTK correlations
