GXAI vs MGIH: Correlation
Measured on weekly returns over the past three years, Gaxos.ai Inc. (GXAI) and Millennium Group International Holdings Limited (MGIH) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GXAI and MGIH?
Across a 3-year window, the weekly returns of GXAI and MGIH correlate at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.46). Stretching to 5 years gives n/a, with an annualized covariance of 8888.5 %².
Within GXAI's tracked universe of 19 assets, MGIH comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGIH ahead by 45.8 points (-59.6% versus -13.8%). One caveat on sizing: GXAI is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GXAI vs MGIH: side by side
| GXAI (Gaxos.ai Inc.) | MGIH (Millennium Group International Holdings Limited) | |
|---|---|---|
| 1-year return | -59.6% | -13.8% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 191.3% | 100.5% |
| Beta vs S&P 500 | 0.51 | 0.32 |
| Max drawdown (3Y) | -93.5% | -60.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GXAI | MGIH |
|---|---|---|
| 2024 | -37.0% | +21.8% |
| 2025 | -58.4% | -17.9% |
| 2026 | -24.1% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GXAI and MGIH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GXAI and MGIH?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.21 over the last year and n/a over 5 years.
Is MGIH a good diversifier for GXAI?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/gxai-vs-mgih.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gxai-vs-mgih/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GXAI correlations · MGIH correlations
