AISP vs MGEE: Correlation
Airship AI Holdings, Inc (AISP) and MGE Energy Inc. (MGEE) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AISP and MGEE?
On 3 years of weekly data the AISP/MGEE correlation comes out at 0.54, moderate. The past 12 months show a weaker link (-0.08) than the 3-year average (0.54). The 5-year figure is 0.45, and annualized covariance runs at 3439.0 %².
By 3-year correlation, MGEE places #4 of the 29 assets tracked against AISP. Correlation aside, the last 12 months split them widely, with MGEE ahead by 44.7 points (-53.0% versus -8.3%). Note the risk asymmetry: AISP runs 8.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AISP vs MGEE: side by side
| AISP (Airship AI Holdings, Inc) | MGEE (MGE Energy Inc.) | |
|---|---|---|
| 1-year return | -53.0% | -8.3% |
| 5-year return | -77.4% | +8.2% |
| Volatility (ann.) | 233.1% | 27.4% |
| Beta vs S&P 500 | 1.24 | 0.26 |
| Max drawdown (3Y) | -87.4% | -30.9% |
| Market cap | $0.1B | $3.0B |
| P/E (trailing) | 3.2 | 19.5 |
| Dividend yield | 0.00% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AISP | MGEE |
|---|---|---|
| 2022 | +3.0% | -12.6% |
| 2023 | -83.1% | +5.1% |
| 2024 | +268.2% | +32.8% |
| 2025 | -53.8% | -14.7% |
| 2026 | -24.6% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AISP and MGEE 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 AISP and MGEE?
As of 2026-08-27, the correlation of weekly returns between AISP and MGEE is 0.54 over 3 years, -0.08 over 1 year and 0.45 over 5 years.
Is MGEE a good diversifier for AISP?
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?
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/aisp-vs-mgee.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aisp-vs-mgee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AISP correlations · MGEE correlations
