MACI vs NKTX: Correlation
Measured on weekly returns over the past three years, Melar Acquisition Corp. I - Class A (MACI) and Nkarta, Inc. (NKTX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and NKTX?
On 3 years of weekly data the MACI/NKTX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.23 over 3. The 5-year figure is n/a, and annualized covariance runs at -40.1 %².
Among the 71 assets we track against MACI, NKTX ranks #59 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NKTX outperformed by 18.4 percentage points (+4.4% for MACI against +22.8% for NKTX). Risk is not evenly split, since NKTX carries 48.3 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.
MACI vs NKTX: side by side
| MACI (Melar Acquisition Corp. I - Class A) | NKTX (Nkarta, Inc.) | |
|---|---|---|
| 1-year return | +4.4% | +22.8% |
| 5-year return | n/a | -91.9% |
| Volatility (ann.) | 2.1% | 101.5% |
| Beta vs S&P 500 | -0.03 | 1.78 |
| Max drawdown (3Y) | -2.0% | -91.3% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MACI | NKTX |
|---|---|---|
| 2022 | – | -61.0% |
| 2023 | – | +10.2% |
| 2024 | – | -62.3% |
| 2025 | +5.7% | -25.7% |
| 2026 | +3.1% | +48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and NKTX good diversifiers for each other?
Yes. With a correlation of -0.23, MACI and NKTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MACI and NKTX?
The MACI/NKTX correlation stands at -0.23 on a 3-year window (1 year: -0.23, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NKTX a good diversifier for MACI?
Yes. With a correlation of -0.23, MACI and NKTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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.
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Related comparisons
Hubs: MACI correlations · NKTX correlations
