MACI vs QUAL: Correlation
How closely do Melar Acquisition Corp. I - Class A (MACI) and iShares MSCI USA Quality Factor ETF (QUAL) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and QUAL?
Over the past 3 years, MACI and QUAL moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.18 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -5.3 %².
Among the 71 assets we track against MACI, QUAL ranks #24 by 3-year correlation. The last year tells two different stories: QUAL led by 15.3 percentage points, +4.4% for MACI against +19.7% for QUAL. Note the risk asymmetry: QUAL runs 6.7 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.
MACI vs QUAL: side by side
| MACI (Melar Acquisition Corp. I - Class A) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +4.4% | +19.7% |
| 5-year return | n/a | +68.0% |
| Volatility (ann.) | 2.1% | 14.0% |
| Beta vs S&P 500 | -0.03 | 0.93 |
| Max drawdown (3Y) | -2.0% | -18.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | US Listed | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | MACI | QUAL |
|---|---|---|
| 2022 | – | -20.5% |
| 2023 | – | +30.9% |
| 2024 | – | +22.3% |
| 2025 | +5.7% | +12.7% |
| 2026 | +3.1% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and QUAL good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MACI and QUAL?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.20 over the last year and n/a over 5 years.
Is QUAL a good diversifier for MACI?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/maci-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MACI correlations · QUAL correlations
