MACI vs NCLH: Correlation
How closely do Melar Acquisition Corp. I - Class A (MACI) and Norwegian Cruise Line Holdings (NCLH) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and NCLH?
On 3 years of weekly data the MACI/NCLH correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -20.0 %².
Within MACI's tracked universe of 71 assets, NCLH comes in at #36 by 3-year correlation. The last year tells two different stories: MACI led by 37.5 percentage points, +4.4% for MACI against -33.1% for NCLH. Risk is not evenly split, since NCLH carries 23.8 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.
MACI vs NCLH: side by side
| MACI (Melar Acquisition Corp. I - Class A) | NCLH (Norwegian Cruise Line Holdings) | |
|---|---|---|
| 1-year return | +4.4% | -33.1% |
| 5-year return | n/a | -34.4% |
| Volatility (ann.) | 2.1% | 49.9% |
| Beta vs S&P 500 | -0.03 | 1.52 |
| Max drawdown (3Y) | -2.0% | -49.1% |
| Market cap | $0.2B | $7.6B |
| P/E (trailing) | 60.9 | 10.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | MACI | NCLH |
|---|---|---|
| 2022 | – | -41.0% |
| 2023 | – | +63.7% |
| 2024 | – | +28.4% |
| 2025 | +5.7% | -13.3% |
| 2026 | +3.1% | -25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and NCLH good diversifiers for each other?
Yes. With a correlation of -0.20, MACI and NCLH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MACI and NCLH?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.12 over the last year and n/a over 5 years.
Is NCLH a good diversifier for MACI?
Yes. With a correlation of -0.20, MACI and NCLH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/maci-vs-nclh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/maci-vs-nclh/)
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Related comparisons
Hubs: MACI correlations · NCLH correlations
