ACWI vs MACI: Correlation
iShares MSCI ACWI ETF (ACWI) and Melar Acquisition Corp. I - Class A (MACI) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and MACI?
Over the past 3 years, ACWI and MACI moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.30) runs below the 3-year figure (-0.18). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -5.4 %².
Out of 119 assets tracked against ACWI, MACI lands near the bottom at #116. Correlation aside, the last 12 months split them widely, with ACWI ahead by 18.3 points (+22.7% versus +4.4%). One caveat on sizing: ACWI is 6.6 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.
ACWI vs MACI: side by side
| ACWI (iShares MSCI ACWI ETF) | MACI (Melar Acquisition Corp. I - Class A) | |
|---|---|---|
| 1-year return | +22.7% | +4.4% |
| 5-year return | +69.0% | n/a |
| Volatility (ann.) | 13.8% | 2.1% |
| Beta vs S&P 500 | 0.92 | -0.03 |
| Max drawdown (3Y) | -16.5% | -2.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 60.9 |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
ACWI, iShares's Global Large-Stock Blend fund, carries $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | MACI |
|---|---|---|
| 2022 | -18.4% | – |
| 2023 | +22.3% | – |
| 2024 | +17.4% | – |
| 2025 | +22.4% | +5.7% |
| 2026 | +14.9% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and MACI good diversifiers for each other?
Yes. With a correlation of -0.18, ACWI and MACI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACWI and MACI?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.30 over the last year and n/a over 5 years.
Is MACI a good diversifier for ACWI?
Yes. With a correlation of -0.18, ACWI and MACI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/acwi-vs-maci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-maci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · MACI correlations
