ENGN vs MEC: Correlation
How closely do enGene Therapeutics Inc. (ENGN) and Mayville Engineering Company, Inc. (MEC) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENGN and MEC?
Over the past 3 years, ENGN and MEC moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -1526.0 %².
By 3-year correlation, MEC places #18 of the 35 assets tracked against ENGN. Their recent paths diverged sharply: over the last 12 months MEC outperformed by 95.5 percentage points (-56.0% for ENGN against +39.5% for MEC). One caveat on sizing: ENGN is 3.2 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.
ENGN vs MEC: side by side
| ENGN (enGene Therapeutics Inc.) | MEC (Mayville Engineering Company, Inc.) | |
|---|---|---|
| 1-year return | -56.0% | +39.5% |
| 5-year return | -80.6% | +34.1% |
| Volatility (ann.) | 156.3% | 49.2% |
| Beta vs S&P 500 | -0.97 | 0.79 |
| Max drawdown (3Y) | -94.9% | -45.8% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENGN | MEC |
|---|---|---|
| 2022 | – | -15.1% |
| 2023 | -10.6% | +13.9% |
| 2024 | -28.0% | +9.0% |
| 2025 | +35.8% | +19.1% |
| 2026 | -78.8% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENGN and MEC good diversifiers for each other?
Yes. With a correlation of -0.20, ENGN and MEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ENGN and MEC?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.28 over the last year and -0.15 over 5 years.
Is MEC a good diversifier for ENGN?
Yes. With a correlation of -0.20, ENGN and MEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/engn-vs-mec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/engn-vs-mec/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENGN correlations · MEC correlations
