BULL vs MSGM: Correlation
Webull Corporation - Class A (BULL) and Motorsport Games Inc. (MSGM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BULL and MSGM?
On 3 years of weekly data the BULL/MSGM correlation comes out at 0.62, strong. The past 12 months show a weaker link (0.07) than the 3-year average (0.62). The 5-year figure is 0.31, and annualized covariance runs at 8015.5 %².
In BULL's tracked universe of 16 assets, MSGM sits right near the top at #1. Correlation aside, the last 12 months split them widely, with MSGM ahead by 67.7 points (-33.7% versus +34.0%). Risk is not evenly split, since MSGM carries 2.0 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.
BULL vs MSGM: side by side
| BULL (Webull Corporation - Class A) | MSGM (Motorsport Games Inc.) | |
|---|---|---|
| 1-year return | -33.7% | +34.0% |
| 5-year return | n/a | -96.2% |
| Volatility (ann.) | 80.3% | 159.9% |
| Beta vs S&P 500 | 0.42 | -0.11 |
| Max drawdown (3Y) | -92.6% | -81.5% |
| Market cap | $5.1B | – |
| P/E (trailing) | 15.7 | 13.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BULL | MSGM |
|---|---|---|
| 2022 | – | -87.8% |
| 2023 | +6.3% | -25.5% |
| 2024 | +7.4% | -56.6% |
| 2025 | -33.2% | +136.6% |
| 2026 | +23.2% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BULL and MSGM good diversifiers for each other?
To a limited degree. At 0.62 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 BULL and MSGM?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.07 over the last year and 0.31 over 5 years.
Is MSGM a good diversifier for BULL?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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/bull-vs-msgm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bull-vs-msgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BULL correlations · MSGM correlations
