EVC vs MGEE: Correlation
Entravision Communications Corporation (EVC) and MGE Energy Inc. (MGEE) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVC and MGEE?
Across a 3-year window, the weekly returns of EVC and MGEE correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.14 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.13, with an annualized covariance of -538.8 %².
By 3-year correlation, MGEE places #14 of the 19 assets tracked against EVC. Correlation aside, the last 12 months split them widely, with EVC ahead by 240.4 points (+232.1% versus -8.3%). Risk is not evenly split, since EVC carries 3.0 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.
EVC vs MGEE: side by side
| EVC (Entravision Communications Corporation) | MGEE (MGE Energy Inc.) | |
|---|---|---|
| 1-year return | +232.1% | -8.3% |
| 5-year return | +53.1% | +8.2% |
| Volatility (ann.) | 82.5% | 27.4% |
| Beta vs S&P 500 | 0.94 | 0.26 |
| Max drawdown (3Y) | -67.4% | -30.9% |
| Market cap | $0.7B | $3.0B |
| P/E (trailing) | 404.5 | 19.5 |
| Dividend yield | 2.50% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVC | MGEE |
|---|---|---|
| 2022 | -27.8% | -12.6% |
| 2023 | -9.2% | +5.1% |
| 2024 | -37.6% | +32.8% |
| 2025 | +35.8% | -14.7% |
| 2026 | +182.3% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVC and MGEE good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between EVC and MGEE?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.14 over the last year and -0.13 over 5 years.
Is MGEE a good diversifier for EVC?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 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/evc-vs-mgee.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evc-vs-mgee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVC correlations · MGEE correlations
