MTX vs SPB: Correlation
Measured on weekly returns over the past three years, Minerals Technologies Inc. (MTX) and Spectrum Brands Holdings, Inc. (SPB) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTX and SPB?
Over the past 3 years, MTX and SPB moved with a correlation of 0.54, which is moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.54). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 521.7 %².
By 3-year correlation, SPB places #9 of the 17 assets tracked against MTX. Their recent paths diverged sharply: over the last 12 months SPB outperformed by 48.7 percentage points (+12.0% for MTX against +60.7% for SPB).
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 SPB: side by side
| MTX (Minerals Technologies Inc.) | SPB (Spectrum Brands Holdings, Inc.) | |
|---|---|---|
| 1-year return | +12.0% | +60.7% |
| 5-year return | -6.2% | +26.1% |
| Volatility (ann.) | 30.4% | 31.9% |
| Beta vs S&P 500 | 0.90 | 0.83 |
| Max drawdown (3Y) | -42.5% | -46.3% |
| Market cap | $2.3B | $2.0B |
| P/E (trailing) | – | 27.7 |
| Dividend yield | 0.65% | 2.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTX | SPB |
|---|---|---|
| 2022 | -16.7% | -38.7% |
| 2023 | +18.0% | +34.1% |
| 2024 | +7.4% | +8.0% |
| 2025 | -19.4% | -27.9% |
| 2026 | +19.2% | +52.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTX and SPB good diversifiers for each other?
Only partially. A correlation of 0.54 means MTX and SPB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MTX and SPB?
The MTX/SPB correlation stands at 0.54 on a 3-year window (1 year: 0.70, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is SPB a good diversifier for MTX?
Only partially. A correlation of 0.54 means MTX and SPB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 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-spb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtx-vs-spb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTX correlations · SPB correlations
