IEMG vs MACI: Correlation
Measured on weekly returns over the past three years, iShares Core MSCI Emerging Markets ETF (IEMG) and Melar Acquisition Corp. I - Class A (MACI) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEMG and MACI?
Across a 3-year window, the weekly returns of IEMG and MACI correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.19). Stretching to 5 years gives n/a, with an annualized covariance of -7.4 %².
Among the 68 assets we track against IEMG, MACI ranks #61 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IEMG outperformed by 31.6 percentage points (+36.0% for IEMG against +4.4% for MACI). Risk is not evenly split, since IEMG carries 8.3 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.
IEMG vs MACI: side by side
| IEMG (iShares Core MSCI Emerging Markets ETF) | MACI (Melar Acquisition Corp. I - Class A) | |
|---|---|---|
| 1-year return | +36.0% | +4.4% |
| 5-year return | +50.7% | n/a |
| Volatility (ann.) | 17.4% | 2.1% |
| Beta vs S&P 500 | 0.84 | -0.03 |
| Max drawdown (3Y) | -17.2% | -2.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 60.9 |
| Dividend yield | 2.31% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $152.2B | – |
| Sector / category | ETF · International | US Listed |
IEMG, iShares's Diversified Emerging Mkts fund, carries $152.2B under management, 1824 holdings, a 0.09% expense ratio, a 2.31% trailing dividend yield.
Year-by-year returns
| Year | IEMG | MACI |
|---|---|---|
| 2022 | -20.0% | – |
| 2023 | +11.5% | – |
| 2024 | +6.5% | – |
| 2025 | +32.6% | +5.7% |
| 2026 | +23.6% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEMG and MACI good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IEMG and MACI?
The IEMG/MACI correlation stands at -0.19 on a 3-year window (1 year: -0.42, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MACI a good diversifier for IEMG?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 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/iemg-vs-maci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iemg-vs-maci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IEMG correlations · MACI correlations
