APLD vs MFI: Correlation
Measured on weekly returns over the past three years, Applied Digital Corporation (APLD) and mF International Limited - Class A (MFI) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLD and MFI?
Over the past 3 years, APLD and MFI moved with a correlation of 0.42, which is moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 9204.3 %².
By 3-year correlation, MFI places #6 of the 15 assets tracked against APLD. Correlation aside, the last 12 months split them widely, with APLD ahead by 139.6 points (+64.3% versus -75.3%). Risk is not evenly split, since MFI carries 1.5 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.
APLD vs MFI: side by side
| APLD (Applied Digital Corporation) | MFI (mF International Limited - Class A) | |
|---|---|---|
| 1-year return | +64.3% | -75.3% |
| 5-year return | +465.8% | n/a |
| Volatility (ann.) | 117.7% | 180.8% |
| Beta vs S&P 500 | 2.73 | 2.81 |
| Max drawdown (3Y) | -71.9% | -95.8% |
| Market cap | $7.8B | $0.5B |
| P/E (trailing) | – | 5.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLD | MFI |
|---|---|---|
| 2023 | +266.3% | – |
| 2024 | +13.4% | – |
| 2025 | +220.9% | +245.6% |
| 2026 | +11.9% | -50.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLD and MFI good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APLD and MFI?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.36 over the last year and n/a over 5 years.
Is MFI a good diversifier for APLD?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/apld-vs-mfi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apld-vs-mfi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APLD correlations · MFI correlations
