MZTI vs WNC: Correlation
Measured on weekly returns over the past three years, The Marzetti Company (MZTI) and Wabash National Corporation (WNC) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MZTI and WNC?
Over the past 3 years, MZTI and WNC moved with a correlation of 0.30, which is moderate. The relationship has been stable: the 1-year correlation (0.29) sits close to the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 443.7 %².
Among the 11 assets we track against MZTI, WNC ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WNC outperformed by 55.4 percentage points (-36.4% for MZTI against +19.0% for WNC). One caveat on sizing: WNC is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MZTI vs WNC: side by side
| MZTI (The Marzetti Company) | WNC (Wabash National Corporation) | |
|---|---|---|
| 1-year return | -36.4% | +19.0% |
| 5-year return | -29.4% | -6.2% |
| Volatility (ann.) | 29.3% | 49.9% |
| Beta vs S&P 500 | 0.29 | 0.70 |
| Max drawdown (3Y) | -46.8% | -76.4% |
| Market cap | $3.1B | $0.5B |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 3.48% | 2.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MZTI | WNC |
|---|---|---|
| 2022 | +21.6% | +18.2% |
| 2023 | -14.0% | +14.9% |
| 2024 | +6.1% | -32.2% |
| 2025 | -2.9% | -48.1% |
| 2026 | -30.5% | +56.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MZTI and WNC good diversifiers for each other?
Reasonably. At 0.30, MZTI and WNC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MZTI and WNC?
As of 2026-08-27, the correlation of weekly returns between MZTI and WNC is 0.30 over 3 years, 0.29 over 1 year and 0.23 over 5 years.
Is WNC a good diversifier for MZTI?
Reasonably. At 0.30, MZTI and WNC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mzti-vs-wnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mzti-vs-wnc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MZTI correlations · WNC correlations
