EQS vs MEC: Correlation
How closely do Equus Total Return, Inc. (EQS) and Mayville Engineering Company, Inc. (MEC) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and MEC?
On 3 years of weekly data the EQS/MEC correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. The 5-year figure is -0.07, and annualized covariance runs at -511.7 %².
MEC is close to the least connected end of EQS's tracked universe, ranking #14 of 17. Their recent paths diverged sharply: over the last 12 months MEC outperformed by 89.0 percentage points (-49.5% for EQS against +39.5% for MEC).
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.
EQS vs MEC: side by side
| EQS (Equus Total Return, Inc.) | MEC (Mayville Engineering Company, Inc.) | |
|---|---|---|
| 1-year return | -49.5% | +39.5% |
| 5-year return | -58.6% | +34.1% |
| Volatility (ann.) | 47.4% | 49.2% |
| Beta vs S&P 500 | -0.16 | 0.79 |
| Max drawdown (3Y) | -58.6% | -45.8% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQS | MEC |
|---|---|---|
| 2022 | -39.9% | -15.1% |
| 2023 | +1.4% | +13.9% |
| 2024 | -24.1% | +9.0% |
| 2025 | +28.2% | +19.1% |
| 2026 | -27.0% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and MEC good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQS and MEC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.30 over the last year and -0.07 over 5 years.
Is MEC a good diversifier for EQS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/eqs-vs-mec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqs-vs-mec/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQS correlations · MEC correlations
