ETN vs MLGO: Correlation
Eaton Corporation (ETN) and MicroAlgo, Inc. (MLGO) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and MLGO?
On 3 years of weekly data the ETN/MLGO correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.08) runs above the 3-year figure (-0.20). The 5-year figure is -0.16, and annualized covariance runs at -3016.8 %².
Within ETN's tracked universe of 44 assets, MLGO comes in at #37 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ETN outperformed by 72.6 percentage points (+19.7% for ETN against -52.9% for MLGO). Note the risk asymmetry: MLGO runs 16.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ETN vs MLGO: side by side
| ETN (Eaton Corporation) | MLGO (MicroAlgo, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | -52.9% |
| 5-year return | +164.1% | -100.0% |
| Volatility (ann.) | 30.2% | 489.7% |
| Beta vs S&P 500 | 1.33 | -2.77 |
| Max drawdown (3Y) | -34.5% | -100.0% |
| Market cap | $161.6B | – |
| P/E (trailing) | 42.4 | 1.9 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | MLGO |
|---|---|---|
| 2022 | -7.2% | -87.6% |
| 2023 | +56.2% | -27.0% |
| 2024 | +39.5% | -97.9% |
| 2025 | -2.8% | -96.1% |
| 2026 | +31.7% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and MLGO good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between ETN and MLGO?
The ETN/MLGO correlation stands at -0.20 on a 3-year window (1 year: 0.08, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is MLGO a good diversifier for ETN?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/etn-vs-mlgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etn-vs-mlgo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETN correlations · MLGO correlations
