MACI vs SLV: Correlation
How closely do Melar Acquisition Corp. I - Class A (MACI) and iShares Silver Trust (SLV) 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 SLV?
Over the past 3 years, MACI and SLV moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.31) than the 3-year average (-0.20). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -17.3 %².
By 3-year correlation, SLV places #38 of the 71 assets tracked against MACI. Correlation aside, the last 12 months split them widely, with SLV ahead by 75.0 points (+4.4% versus +79.4%). Note the risk asymmetry: SLV runs 18.4 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 SLV: side by side
| MACI (Melar Acquisition Corp. I - Class A) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +4.4% | +79.4% |
| 5-year return | n/a | +182.0% |
| Volatility (ann.) | 2.1% | 38.6% |
| Beta vs S&P 500 | -0.03 | 0.80 |
| Max drawdown (3Y) | -2.0% | -52.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | MACI | SLV |
|---|---|---|
| 2022 | – | +2.4% |
| 2023 | – | -1.1% |
| 2024 | – | +20.9% |
| 2025 | +5.7% | +144.7% |
| 2026 | +3.1% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and SLV good diversifiers for each other?
Yes. With a correlation of -0.20, MACI and SLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MACI and SLV?
The MACI/SLV correlation stands at -0.20 on a 3-year window (1 year: -0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SLV a good diversifier for MACI?
Yes. With a correlation of -0.20, MACI and SLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/maci-vs-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/maci-vs-slv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MACI correlations · SLV correlations
