BULL vs TNMG: Correlation
Measured on weekly returns over the past three years, Webull Corporation - Class A (BULL) and TNL Mediagene (TNMG) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BULL and TNMG?
Across a 3-year window, the weekly returns of BULL and TNMG correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.02) than the 3-year average (-0.22). Stretching to 5 years gives -0.22, with an annualized covariance of -2258.2 %².
Among the 16 assets we track against BULL, TNMG sits near the bottom by co-movement, at rank #13. The last year tells two different stories: BULL led by 60.4 percentage points, -33.7% for BULL against -94.1% for TNMG. One caveat on sizing: TNMG is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TNMG: side by side
| BULL (Webull Corporation - Class A) | TNMG (TNL Mediagene) | |
|---|---|---|
| 1-year return | -33.7% | -94.1% |
| 5-year return | n/a | -99.7% |
| Volatility (ann.) | 80.3% | 126.7% |
| Beta vs S&P 500 | 0.42 | 2.05 |
| Max drawdown (3Y) | -92.6% | -99.9% |
| Market cap | $5.1B | – |
| P/E (trailing) | 15.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BULL | TNMG |
|---|---|---|
| 2023 | +6.3% | +4.9% |
| 2024 | +7.4% | -26.4% |
| 2025 | -33.2% | -98.3% |
| 2026 | +23.2% | -81.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BULL and TNMG good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BULL and TNMG?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.02 over the last year and -0.22 over 5 years.
Is TNMG a good diversifier for BULL?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
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Related comparisons
Hubs: BULL correlations · TNMG correlations
