MTZ vs PWR: Correlation
Measured on weekly returns over the past three years, MasTec, Inc. (MTZ) and Quanta Services (PWR) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTZ and PWR?
Across a 3-year window, the weekly returns of MTZ and PWR correlate at 0.65, strong. The link has loosened recently: the 1-year correlation (0.53) runs below the 3-year figure (0.65). Stretching to 5 years gives 0.61, with an annualized covariance of 1004.6 %².
PWR is one of the assets that tracks MTZ most closely: it ranks #2 out of the 15 assets we track against MTZ. The last year tells two different stories: PWR led by 23.6 percentage points, +39.5% for MTZ against +63.1% for PWR.
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 PWR: side by side
| MTZ (MasTec, Inc.) | PWR (Quanta Services) | |
|---|---|---|
| 1-year return | +39.5% | +63.1% |
| 5-year return | +170.8% | +506.1% |
| Volatility (ann.) | 45.9% | 33.9% |
| Beta vs S&P 500 | 1.37 | 1.29 |
| Max drawdown (3Y) | -52.8% | -33.9% |
| Market cap | $20.2B | $93.5B |
| P/E (trailing) | 40.1 | 70.4 |
| Dividend yield | 0.00% | 0.07% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MTZ | PWR |
|---|---|---|
| 2022 | -7.5% | +24.6% |
| 2023 | -11.3% | +51.7% |
| 2024 | +79.8% | +46.6% |
| 2025 | +59.7% | +33.7% |
| 2026 | +15.5% | +47.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTZ and PWR good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MTZ and PWR?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.53 over the last year and 0.61 over 5 years.
Is PWR a good diversifier for MTZ?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 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/mtz-vs-pwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtz-vs-pwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTZ correlations · PWR correlations
