KELYA vs MAX: Correlation
Kelly Services, Inc. (KELYA) and MediaAlpha, Inc. (MAX) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KELYA and MAX?
On 3 years of weekly data the KELYA/MAX correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.40). The 5-year figure is 0.30, and annualized covariance runs at 859.3 %².
Within KELYA's tracked universe of 20 assets, MAX comes in at #12 by 3-year correlation. Twelve-month performance is nearly a tie, at +24.2% for KELYA and +21.2% for MAX. Note the risk asymmetry: MAX runs 1.6 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.
KELYA vs MAX: side by side
| KELYA (Kelly Services, Inc.) | MAX (MediaAlpha, Inc.) | |
|---|---|---|
| 1-year return | +24.2% | +21.2% |
| 5-year return | -5.4% | -44.3% |
| Volatility (ann.) | 37.3% | 58.2% |
| Beta vs S&P 500 | 0.73 | 0.96 |
| Max drawdown (3Y) | -66.5% | -67.7% |
| Market cap | $0.6B | $0.7B |
| P/E (trailing) | – | 7.8 |
| Dividend yield | 1.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KELYA | MAX |
|---|---|---|
| 2022 | +2.3% | -35.6% |
| 2023 | +30.0% | +12.1% |
| 2024 | -34.5% | +1.3% |
| 2025 | -35.2% | +14.7% |
| 2026 | +98.2% | -2.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KELYA and MAX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KELYA and MAX?
As of 2026-08-27, the correlation of weekly returns between KELYA and MAX is 0.40 over 3 years, 0.25 over 1 year and 0.30 over 5 years.
Is MAX a good diversifier for KELYA?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/kelya-vs-max.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kelya-vs-max/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KELYA correlations · MAX correlations
