CHNR vs MGIH: Correlation
Measured on weekly returns over the past three years, China Natural Resources, Inc. (CHNR) and Millennium Group International Holdings Limited (MGIH) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHNR and MGIH?
Across a 3-year window, the weekly returns of CHNR and MGIH correlate at 0.47, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.47 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 3918.1 %².
By 3-year correlation, MGIH places #8 of the 22 assets tracked against CHNR. Their recent paths diverged sharply: over the last 12 months CHNR outperformed by 22.0 percentage points (+8.2% for CHNR 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.
CHNR vs MGIH: side by side
| CHNR (China Natural Resources, Inc.) | MGIH (Millennium Group International Holdings Limited) | |
|---|---|---|
| 1-year return | +8.2% | -13.8% |
| 5-year return | -91.7% | n/a |
| Volatility (ann.) | 83.4% | 100.5% |
| Beta vs S&P 500 | 0.65 | 0.32 |
| Max drawdown (3Y) | -88.4% | -60.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHNR | MGIH |
|---|---|---|
| 2022 | -34.5% | – |
| 2023 | -16.3% | – |
| 2024 | -57.2% | +21.8% |
| 2025 | -33.8% | -17.9% |
| 2026 | +13.9% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHNR and MGIH good diversifiers for each other?
Reasonably. At 0.47, CHNR and MGIH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHNR and MGIH?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.15 over the last year and n/a over 5 years.
Is MGIH a good diversifier for CHNR?
Reasonably. At 0.47, CHNR and MGIH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/chnr-vs-mgih.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chnr-vs-mgih/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHNR correlations · MGIH correlations
