GLD vs MACI: Correlation
Measured on weekly returns over the past three years, SPDR Gold Shares (GLD) and Melar Acquisition Corp. I - Class A (MACI) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLD and MACI?
On 3 years of weekly data the GLD/MACI correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.20). The 5-year figure is n/a, and annualized covariance runs at -8.2 %².
By 3-year correlation, MACI places #24 of the 30 assets tracked against GLD. The last year tells two different stories: GLD led by 30.7 percentage points, +35.1% for GLD against +4.4% for MACI. Note the risk asymmetry: GLD runs 8.9 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.
GLD vs MACI: side by side
| GLD (SPDR Gold Shares) | MACI (Melar Acquisition Corp. I - Class A) | |
|---|---|---|
| 1-year return | +35.1% | +4.4% |
| 5-year return | +149.5% | n/a |
| Volatility (ann.) | 18.7% | 2.1% |
| Beta vs S&P 500 | 0.18 | -0.03 |
| Max drawdown (3Y) | -26.4% | -2.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 60.9 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GLD | MACI |
|---|---|---|
| 2022 | -0.8% | – |
| 2023 | +12.7% | – |
| 2024 | +26.7% | – |
| 2025 | +63.7% | +5.7% |
| 2026 | +6.6% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLD and MACI 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 GLD and MACI?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.33 over the last year and n/a over 5 years.
Is MACI a good diversifier for GLD?
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?
On the −1 to +1 scale, -0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gld-vs-maci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gld-vs-maci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GLD correlations · MACI correlations
