CELH vs MEGL: Correlation
How closely do Celsius Holdings, Inc. (CELH) and Magic Empire Global Limited - Class A (MEGL) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CELH and MEGL?
On 3 years of weekly data the CELH/MEGL correlation comes out at 0.43, moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.43). The 5-year figure is 0.22, and annualized covariance runs at 4837.5 %².
MEGL is one of the assets that tracks CELH most closely: it ranks #1 out of the 12 assets we track against CELH. Correlation aside, the last 12 months split them widely, with MEGL ahead by 28.1 points (-44.8% versus -16.7%). Risk is not evenly split, since MEGL carries 2.6 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.
CELH vs MEGL: side by side
| CELH (Celsius Holdings, Inc.) | MEGL (Magic Empire Global Limited - Class A) | |
|---|---|---|
| 1-year return | -44.8% | -16.7% |
| 5-year return | +24.3% | n/a |
| Volatility (ann.) | 66.5% | 170.2% |
| Beta vs S&P 500 | 1.11 | -0.70 |
| Max drawdown (3Y) | -77.9% | -68.7% |
| Market cap | $8.3B | – |
| P/E (trailing) | 143.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CELH | MEGL |
|---|---|---|
| 2022 | +39.5% | – |
| 2023 | +57.2% | -7.3% |
| 2024 | -51.7% | -54.4% |
| 2025 | +73.7% | +117.6% |
| 2026 | -27.9% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CELH and MEGL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CELH and MEGL?
As of 2026-08-27, the correlation of weekly returns between CELH and MEGL is 0.43 over 3 years, 0.22 over 1 year and 0.22 over 5 years.
Is MEGL a good diversifier for CELH?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/celh-vs-megl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/celh-vs-megl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CELH correlations · MEGL correlations
