MTZ vs MYRG: Correlation
MasTec, Inc. (MTZ) and MYR Group, Inc. (MYRG) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTZ and MYRG?
On 3 years of weekly data the MTZ/MYRG correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.67 over 1 year against 0.59 over 3. The 5-year figure is 0.58, and annualized covariance runs at 1352.7 %².
Within MTZ's tracked universe of 15 assets, MYRG comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MYRG ahead by 26.0 points (+39.5% versus +65.5%).
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.
MTZ vs MYRG: side by side
| MTZ (MasTec, Inc.) | MYRG (MYR Group, Inc.) | |
|---|---|---|
| 1-year return | +39.5% | +65.5% |
| 5-year return | +170.8% | +196.6% |
| Volatility (ann.) | 45.9% | 49.8% |
| Beta vs S&P 500 | 1.37 | 1.63 |
| Max drawdown (3Y) | -52.8% | -50.3% |
| Market cap | $20.2B | $4.8B |
| P/E (trailing) | 40.1 | 29.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTZ | MYRG |
|---|---|---|
| 2022 | -7.5% | -16.7% |
| 2023 | -11.3% | +57.1% |
| 2024 | +79.8% | +2.9% |
| 2025 | +59.7% | +46.9% |
| 2026 | +15.5% | +41.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTZ and MYRG good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MTZ and MYRG?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.67 over the last year and 0.58 over 5 years.
Is MYRG a good diversifier for MTZ?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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/mtz-vs-myrg.json
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Related comparisons
Hubs: MTZ correlations · MYRG correlations
