MACI vs STLD: Correlation
Melar Acquisition Corp. I - Class A (MACI) and Steel Dynamics (STLD) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and STLD?
On 3 years of weekly data the MACI/STLD correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -17.0 %².
Among the 71 assets we track against MACI, STLD ranks #54 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STLD outperformed by 75.4 percentage points (+4.4% for MACI against +79.8% for STLD). Note the risk asymmetry: STLD runs 16.4 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 STLD: side by side
| MACI (Melar Acquisition Corp. I - Class A) | STLD (Steel Dynamics) | |
|---|---|---|
| 1-year return | +4.4% | +79.8% |
| 5-year return | n/a | +262.0% |
| Volatility (ann.) | 2.1% | 34.5% |
| Beta vs S&P 500 | -0.03 | 1.13 |
| Max drawdown (3Y) | -2.0% | -28.7% |
| Market cap | $0.2B | $33.8B |
| P/E (trailing) | 60.9 | 21.4 |
| Dividend yield | 0.00% | 0.87% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MACI | STLD |
|---|---|---|
| 2022 | – | +60.1% |
| 2023 | – | +22.8% |
| 2024 | – | -2.0% |
| 2025 | +5.7% | +50.7% |
| 2026 | +3.1% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and STLD 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 STLD?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.16 over the last year and n/a over 5 years.
Is STLD 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?
On the −1 to +1 scale, -0.22 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-stld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/maci-vs-stld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MACI correlations · STLD correlations
