AMBO vs MGIH: Correlation
Measured on weekly returns over the past three years, Ambow Education Holding Ltd. American Depository Shares (AMBO) and Millennium Group International Holdings Limited (MGIH) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBO and MGIH?
On 3 years of weekly data the AMBO/MGIH correlation comes out at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.57). The 5-year figure is n/a, and annualized covariance runs at 8394.3 %².
MGIH is one of the assets that tracks AMBO most closely: it ranks #2 out of the 11 assets we track against AMBO. The last year tells two different stories: MGIH led by 28.6 percentage points, -42.4% for AMBO against -13.8% for MGIH.
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.
AMBO vs MGIH: side by side
| AMBO (Ambow Education Holding Ltd. American Depository Shares) | MGIH (Millennium Group International Holdings Limited) | |
|---|---|---|
| 1-year return | -42.4% | -13.8% |
| 5-year return | -86.6% | n/a |
| Volatility (ann.) | 146.2% | 100.5% |
| Beta vs S&P 500 | -0.00 | 0.32 |
| Max drawdown (3Y) | -73.6% | -60.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMBO | MGIH |
|---|---|---|
| 2022 | -67.0% | – |
| 2023 | -54.8% | – |
| 2024 | +52.2% | +21.8% |
| 2025 | +31.4% | -17.9% |
| 2026 | -24.3% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBO and MGIH good diversifiers for each other?
Only partially. A correlation of 0.57 means AMBO and MGIH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMBO and MGIH?
As of 2026-08-27, the correlation of weekly returns between AMBO and MGIH is 0.57 over 3 years, 0.22 over 1 year and n/a over 5 years.
Is MGIH a good diversifier for AMBO?
Only partially. A correlation of 0.57 means AMBO and MGIH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 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/ambo-vs-mgih.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ambo-vs-mgih/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMBO correlations · MGIH correlations
