CYD vs MEGL: Correlation
Measured on weekly returns over the past three years, China Yuchai International Limited (CYD) and Magic Empire Global Limited - Class A (MEGL) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CYD and MEGL?
Across a 3-year window, the weekly returns of CYD and MEGL correlate at 0.58, moderate. The link has loosened recently: the 1-year correlation (-0.16) runs below the 3-year figure (0.58). Stretching to 5 years gives 0.43, with an annualized covariance of 6295.3 %².
MEGL is one of the assets that tracks CYD most closely: it ranks #1 out of the 11 assets we track against CYD. Their recent paths diverged sharply: over the last 12 months CYD outperformed by 42.7 percentage points (+26.0% for CYD against -16.7% for MEGL). One caveat on sizing: MEGL is 2.7 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.
CYD vs MEGL: side by side
| CYD (China Yuchai International Limited) | MEGL (Magic Empire Global Limited - Class A) | |
|---|---|---|
| 1-year return | +26.0% | -16.7% |
| 5-year return | +236.2% | n/a |
| Volatility (ann.) | 64.2% | 170.2% |
| Beta vs S&P 500 | 1.06 | -0.70 |
| Max drawdown (3Y) | -44.5% | -68.7% |
| Market cap | – | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CYD | MEGL |
|---|---|---|
| 2022 | -50.3% | – |
| 2023 | +21.6% | -7.3% |
| 2024 | +17.7% | -54.4% |
| 2025 | +281.2% | +117.6% |
| 2026 | +16.0% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CYD and MEGL good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CYD and MEGL?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with -0.16 over the last year and 0.43 over 5 years.
Is MEGL a good diversifier for CYD?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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/cyd-vs-megl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cyd-vs-megl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CYD correlations · MEGL correlations
