MACI vs SIFY: Correlation
Measured on weekly returns over the past three years, Melar Acquisition Corp. I - Class A (MACI) and Sify Technologies Limited - American Depository Shares (SIFY) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and SIFY?
Over the past 3 years, MACI and SIFY moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.26 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -40.3 %².
Among the 71 assets we track against MACI, SIFY ranks #65 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SIFY outperformed by 50.5 percentage points (+4.4% for MACI against +54.9% for SIFY). Risk is not evenly split, since SIFY carries 37.3 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 SIFY: side by side
| MACI (Melar Acquisition Corp. I - Class A) | SIFY (Sify Technologies Limited - American Depository Shares) | |
|---|---|---|
| 1-year return | +4.4% | +54.9% |
| 5-year return | n/a | -31.9% |
| Volatility (ann.) | 2.1% | 78.4% |
| Beta vs S&P 500 | -0.03 | 0.48 |
| Max drawdown (3Y) | -2.0% | -85.6% |
| Market cap | $0.2B | $1.1B |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MACI | SIFY |
|---|---|---|
| 2022 | – | -64.4% |
| 2023 | – | +62.6% |
| 2024 | – | -74.5% |
| 2025 | +5.7% | +326.2% |
| 2026 | +3.1% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and SIFY good diversifiers for each other?
Yes. With a correlation of -0.26, MACI and SIFY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MACI and SIFY?
As of 2026-08-27, the correlation of weekly returns between MACI and SIFY is -0.26 over 3 years, -0.09 over 1 year and n/a over 5 years.
Is SIFY a good diversifier for MACI?
Yes. With a correlation of -0.26, MACI and SIFY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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-sify.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/maci-vs-sify/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MACI correlations · SIFY correlations
