AKAM vs MEGL: Correlation
How closely do Akamai Technologies (AKAM) and Magic Empire Global Limited - Class A (MEGL) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AKAM and MEGL?
On 3 years of weekly data the AKAM/MEGL correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.31). The 5-year figure is -0.16, and annualized covariance runs at -2395.1 %².
Out of 30 assets tracked against AKAM, MEGL lands near the bottom at #30. Correlation aside, the last 12 months split them widely, with AKAM ahead by 58.8 points (+42.1% versus -16.7%). Risk is not evenly split, since MEGL carries 3.7 times the volatility of the other side.
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.
AKAM vs MEGL: side by side
| AKAM (Akamai Technologies) | MEGL (Magic Empire Global Limited - Class A) | |
|---|---|---|
| 1-year return | +42.1% | -16.7% |
| 5-year return | -1.6% | n/a |
| Volatility (ann.) | 45.7% | 170.2% |
| Beta vs S&P 500 | 0.58 | -0.70 |
| Max drawdown (3Y) | -46.8% | -68.7% |
| Market cap | $16.0B | – |
| P/E (trailing) | 40.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AKAM | MEGL |
|---|---|---|
| 2022 | -28.0% | – |
| 2023 | +40.4% | -7.3% |
| 2024 | -19.2% | -54.4% |
| 2025 | -8.8% | +117.6% |
| 2026 | +27.5% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AKAM and MEGL good diversifiers for each other?
Yes. With a correlation of -0.31, AKAM and MEGL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AKAM and MEGL?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.08 over the last year and -0.16 over 5 years.
Is MEGL a good diversifier for AKAM?
Yes. With a correlation of -0.31, AKAM and MEGL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/akam-vs-megl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/akam-vs-megl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AKAM correlations · MEGL correlations
