FIZZ vs MACI: Correlation
Measured on weekly returns over the past three years, National Beverage Corp. (FIZZ) and Melar Acquisition Corp. I - Class A (MACI) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIZZ and MACI?
Over the past 3 years, FIZZ and MACI moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.21 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -9.8 %².
Out of 12 assets tracked against FIZZ, MACI lands near the bottom at #11. The last year tells two different stories: MACI led by 19.4 percentage points, -15.0% for FIZZ against +4.4% for MACI. Risk is not evenly split, since FIZZ carries 11.6 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.
FIZZ vs MACI: side by side
| FIZZ (National Beverage Corp.) | MACI (Melar Acquisition Corp. I - Class A) | |
|---|---|---|
| 1-year return | -15.0% | +4.4% |
| 5-year return | -9.3% | n/a |
| Volatility (ann.) | 24.4% | 2.1% |
| Beta vs S&P 500 | 0.36 | -0.03 |
| Max drawdown (3Y) | -41.3% | -2.0% |
| Market cap | $3.0B | $0.2B |
| P/E (trailing) | 16.8 | 60.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIZZ | MACI |
|---|---|---|
| 2022 | +2.6% | – |
| 2023 | +6.9% | – |
| 2024 | -8.0% | – |
| 2025 | -25.3% | +5.7% |
| 2026 | +12.6% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIZZ and MACI good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FIZZ and MACI?
The FIZZ/MACI correlation stands at -0.21 on a 3-year window (1 year: -0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MACI a good diversifier for FIZZ?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/fizz-vs-maci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fizz-vs-maci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FIZZ correlations · MACI correlations
