EL vs MDGL: Correlation
Estée Lauder Companies (The) (EL) and Madrigal Pharmaceuticals, Inc. (MDGL) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EL and MDGL?
Across a 3-year window, the weekly returns of EL and MDGL correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.30 versus -0.19 over 3 years. Stretching to 5 years gives -0.01, with an annualized covariance of -526.4 %².
By 3-year correlation, MDGL places #29 of the 35 assets tracked against EL. On 12-month performance MDGL holds a 11.5-point edge, +16.4% against +27.9%.
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.
EL vs MDGL: side by side
| EL (Estée Lauder Companies (The)) | MDGL (Madrigal Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +16.4% | +27.9% |
| 5-year return | -66.7% | +554.5% |
| Volatility (ann.) | 47.0% | 60.2% |
| Beta vs S&P 500 | 1.28 | 0.71 |
| Max drawdown (3Y) | -68.4% | -38.8% |
| Market cap | $38.4B | $12.6B |
| P/E (trailing) | 208.3 | – |
| Dividend yield | 1.33% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | EL | MDGL |
|---|---|---|
| 2022 | -32.3% | +242.5% |
| 2023 | -40.1% | -20.3% |
| 2024 | -47.6% | +33.4% |
| 2025 | +42.1% | +88.7% |
| 2026 | +2.1% | -6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EL and MDGL good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EL and MDGL?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.30 over the last year and -0.01 over 5 years.
Is MDGL a good diversifier for EL?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/el-vs-mdgl.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: EL correlations · MDGL correlations
