MACI vs MTA: Correlation
Measured on weekly returns over the past three years, Melar Acquisition Corp. I - Class A (MACI) and Metalla Royalty & Streaming Ltd. (MTA) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and MTA?
Over the past 3 years, MACI and MTA moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -29.4 %².
MTA is close to the least connected end of MACI's tracked universe, ranking #67 of 71. The last year tells two different stories: MTA led by 115.3 percentage points, +4.4% for MACI against +119.7% for MTA. One caveat on sizing: MTA is 24.6 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.
MACI vs MTA: side by side
| MACI (Melar Acquisition Corp. I - Class A) | MTA (Metalla Royalty & Streaming Ltd.) | |
|---|---|---|
| 1-year return | +4.4% | +119.7% |
| 5-year return | n/a | +45.5% |
| Volatility (ann.) | 2.1% | 51.6% |
| Beta vs S&P 500 | -0.03 | 1.16 |
| Max drawdown (3Y) | -2.0% | -44.4% |
| Market cap | $0.2B | $1.0B |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MACI | MTA |
|---|---|---|
| 2022 | – | -29.1% |
| 2023 | – | -37.0% |
| 2024 | – | -18.5% |
| 2025 | +5.7% | +210.0% |
| 2026 | +3.1% | +41.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and MTA good diversifiers for each other?
Yes. With a correlation of -0.27, MACI and MTA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MACI and MTA?
As of 2026-08-27, the correlation of weekly returns between MACI and MTA is -0.27 over 3 years, -0.26 over 1 year and n/a over 5 years.
Is MTA a good diversifier for MACI?
Yes. With a correlation of -0.27, MACI and MTA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/maci-vs-mta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/maci-vs-mta/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MACI correlations · MTA correlations
