MTX vs NC: Correlation
Measured on weekly returns over the past three years, Minerals Technologies Inc. (MTX) and NACCO Industries, Inc. (NC) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTX and NC?
Over the past 3 years, MTX and NC moved with a correlation of 0.40, which is moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.40 over 3. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 439.1 %².
Among the 17 assets we track against MTX, NC ranks #12 by 3-year correlation. Their 12-month results are close: +12.0% for MTX against +12.2% for NC.
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.
MTX vs NC: side by side
| MTX (Minerals Technologies Inc.) | NC (NACCO Industries, Inc.) | |
|---|---|---|
| 1-year return | +12.0% | +12.2% |
| 5-year return | -6.2% | +96.1% |
| Volatility (ann.) | 30.4% | 36.3% |
| Beta vs S&P 500 | 0.90 | 0.46 |
| Max drawdown (3Y) | -42.5% | -31.2% |
| Market cap | $2.3B | $0.3B |
| P/E (trailing) | – | 18.7 |
| Dividend yield | 0.65% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTX | NC |
|---|---|---|
| 2022 | -16.7% | +6.7% |
| 2023 | +18.0% | -1.5% |
| 2024 | +7.4% | -15.9% |
| 2025 | -19.4% | +68.8% |
| 2026 | +19.2% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTX and NC good diversifiers for each other?
Reasonably. At 0.40, MTX and NC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MTX and NC?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.43 over the last year and 0.28 over 5 years.
Is NC a good diversifier for MTX?
Reasonably. At 0.40, MTX and NC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/mtx-vs-nc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtx-vs-nc/)
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Related comparisons
Hubs: MTX correlations · NC correlations
