MACI vs NUE: Correlation
Measured on weekly returns over the past three years, Melar Acquisition Corp. I - Class A (MACI) and Nucor (NUE) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and NUE?
Across a 3-year window, the weekly returns of MACI and NUE correlate at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -16.5 %².
Among the 71 assets we track against MACI, NUE ranks #52 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NUE ahead by 65.7 points (+4.4% versus +70.1%). One caveat on sizing: NUE is 15.9 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 NUE: side by side
| MACI (Melar Acquisition Corp. I - Class A) | NUE (Nucor) | |
|---|---|---|
| 1-year return | +4.4% | +70.1% |
| 5-year return | n/a | +124.6% |
| Volatility (ann.) | 2.1% | 33.3% |
| Beta vs S&P 500 | -0.03 | 1.08 |
| Max drawdown (3Y) | -2.0% | -47.8% |
| Market cap | $0.2B | $57.3B |
| P/E (trailing) | 60.9 | 20.1 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MACI | NUE |
|---|---|---|
| 2022 | – | +17.4% |
| 2023 | – | +33.8% |
| 2024 | – | -32.0% |
| 2025 | +5.7% | +42.0% |
| 2026 | +3.1% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and NUE good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MACI and NUE?
The MACI/NUE correlation stands at -0.22 on a 3-year window (1 year: -0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NUE a good diversifier for MACI?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/maci-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/maci-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MACI correlations · NUE correlations
