EDBL vs MACI: Correlation
How closely do Edible Garden AG Incorporated (EDBL) and Melar Acquisition Corp. I - Class A (MACI) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDBL and MACI?
Across a 3-year window, the weekly returns of EDBL and MACI correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -57.3 %².
Out of 10 assets tracked against EDBL, MACI lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with MACI ahead by 104.2 points (-99.8% versus +4.4%). Risk is not evenly split, since EDBL carries 65.0 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.
EDBL vs MACI: side by side
| EDBL (Edible Garden AG Incorporated) | MACI (Melar Acquisition Corp. I - Class A) | |
|---|---|---|
| 1-year return | -99.8% | +4.4% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 136.5% | 2.1% |
| Beta vs S&P 500 | 1.62 | -0.03 |
| Max drawdown (3Y) | -100.0% | -2.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 60.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDBL | MACI |
|---|---|---|
| 2023 | -92.0% | – |
| 2024 | -96.8% | – |
| 2025 | -92.4% | +5.7% |
| 2026 | -99.5% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDBL and MACI good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between EDBL and MACI?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.24 over the last year and n/a over 5 years.
Is MACI a good diversifier for EDBL?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/edbl-vs-maci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edbl-vs-maci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EDBL correlations · MACI correlations
