MTZ vs TPC: Correlation
How closely do MasTec, Inc. (MTZ) and Tutor Perini Corporation (TPC) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTZ and TPC?
On 3 years of weekly data the MTZ/TPC correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.54). The 5-year figure is 0.53, and annualized covariance runs at 1530.7 %².
By 3-year correlation, TPC places #8 of the 15 assets tracked against MTZ. Correlation aside, the last 12 months split them widely, with TPC ahead by 17.4 points (+39.5% versus +56.9%).
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 TPC: side by side
| MTZ (MasTec, Inc.) | TPC (Tutor Perini Corporation) | |
|---|---|---|
| 1-year return | +39.5% | +56.9% |
| 5-year return | +170.8% | +541.7% |
| Volatility (ann.) | 45.9% | 62.0% |
| Beta vs S&P 500 | 1.37 | 1.63 |
| Max drawdown (3Y) | -52.8% | -40.9% |
| Market cap | $20.2B | $4.8B |
| P/E (trailing) | 40.1 | 39.6 |
| Dividend yield | 0.00% | 0.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTZ | TPC |
|---|---|---|
| 2022 | -7.5% | -39.0% |
| 2023 | -11.3% | +20.5% |
| 2024 | +79.8% | +165.9% |
| 2025 | +59.7% | +177.2% |
| 2026 | +15.5% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTZ and TPC good diversifiers for each other?
To a limited degree. At 0.54 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 TPC?
As of 2026-08-27, the correlation of weekly returns between MTZ and TPC is 0.54 over 3 years, 0.42 over 1 year and 0.53 over 5 years.
Is TPC a good diversifier for MTZ?
To a limited degree. At 0.54 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 0.54 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/mtz-vs-tpc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtz-vs-tpc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTZ correlations · TPC correlations
