HLF vs MEGL: Correlation
How closely do Herbalife Ltd. (HLF) and Magic Empire Global Limited - Class A (MEGL) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLF and MEGL?
Across a 3-year window, the weekly returns of HLF and MEGL correlate at 0.38, moderate. The past 12 months show a weaker link (-0.12) than the 3-year average (0.38). Stretching to 5 years gives 0.27, with an annualized covariance of 4177.2 %².
Few assets follow HLF as closely as MEGL, which ranks #3 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with HLF ahead by 47.0 points (+30.3% versus -16.7%). Risk is not evenly split, since MEGL carries 2.6 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.
HLF vs MEGL: side by side
| HLF (Herbalife Ltd.) | MEGL (Magic Empire Global Limited - Class A) | |
|---|---|---|
| 1-year return | +30.3% | -16.7% |
| 5-year return | -75.9% | n/a |
| Volatility (ann.) | 65.4% | 170.2% |
| Beta vs S&P 500 | 0.48 | -0.70 |
| Max drawdown (3Y) | -67.0% | -68.7% |
| Market cap | $1.3B | – |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLF | MEGL |
|---|---|---|
| 2022 | -63.6% | – |
| 2023 | +2.6% | -7.3% |
| 2024 | -56.2% | -54.4% |
| 2025 | +92.7% | +117.6% |
| 2026 | -4.2% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLF and MEGL good diversifiers for each other?
Reasonably. At 0.38, HLF and MEGL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HLF and MEGL?
As of 2026-08-27, the correlation of weekly returns between HLF and MEGL is 0.38 over 3 years, -0.12 over 1 year and 0.27 over 5 years.
Is MEGL a good diversifier for HLF?
Reasonably. At 0.38, HLF and MEGL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/hlf-vs-megl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlf-vs-megl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLF correlations · MEGL correlations
