GLOB vs MEGL: Correlation
Measured on weekly returns over the past three years, Globant S.A. (GLOB) and Magic Empire Global Limited - Class A (MEGL) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLOB and MEGL?
Across a 3-year window, the weekly returns of GLOB and MEGL correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.26 versus -0.28 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -2455.2 %².
Among the 12 assets we track against GLOB, MEGL sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with MEGL ahead by 24.1 points (-40.8% versus -16.7%). Risk is not evenly split, since MEGL carries 3.3 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.
GLOB vs MEGL: side by side
| GLOB (Globant S.A.) | MEGL (Magic Empire Global Limited - Class A) | |
|---|---|---|
| 1-year return | -40.8% | -16.7% |
| 5-year return | -87.5% | n/a |
| Volatility (ann.) | 50.9% | 170.2% |
| Beta vs S&P 500 | 1.27 | -0.70 |
| Max drawdown (3Y) | -88.9% | -68.7% |
| Market cap | $1.7B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLOB | MEGL |
|---|---|---|
| 2022 | -46.5% | – |
| 2023 | +41.5% | -7.3% |
| 2024 | -9.9% | -54.4% |
| 2025 | -69.5% | +117.6% |
| 2026 | -38.5% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLOB and MEGL good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GLOB and MEGL?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with 0.26 over the last year and -0.14 over 5 years.
Is MEGL a good diversifier for GLOB?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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/glob-vs-megl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/glob-vs-megl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLOB correlations · MEGL correlations
