MACI vs TEO: Correlation
Melar Acquisition Corp. I - Class A (MACI) and Telecom Argentina SA (TEO) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and TEO?
Over the past 3 years, MACI and TEO moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.21). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -26.3 %².
Among the 71 assets we track against MACI, TEO ranks #48 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TEO outperformed by 49.4 percentage points (+4.4% for MACI against +53.8% for TEO). One caveat on sizing: TEO is 29.5 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 TEO: side by side
| MACI (Melar Acquisition Corp. I - Class A) | TEO (Telecom Argentina SA) | |
|---|---|---|
| 1-year return | +4.4% | +53.8% |
| 5-year return | n/a | +180.0% |
| Volatility (ann.) | 2.1% | 62.0% |
| Beta vs S&P 500 | -0.03 | 0.67 |
| Max drawdown (3Y) | -2.0% | -54.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | 10.9 |
| Dividend yield | 0.00% | 102.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MACI | TEO |
|---|---|---|
| 2022 | – | +14.3% |
| 2023 | – | +37.9% |
| 2024 | – | +79.3% |
| 2025 | +5.7% | -7.8% |
| 2026 | +3.1% | +12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and TEO good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MACI and TEO?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.45 over the last year and n/a over 5 years.
Is TEO a good diversifier for MACI?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-teo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/maci-vs-teo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MACI correlations · TEO correlations
