MACI vs XAIR: Correlation
Measured on weekly returns over the past three years, Melar Acquisition Corp. I - Class A (MACI) and Beyond Air, Inc. (XAIR) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and XAIR?
On 3 years of weekly data the MACI/XAIR correlation comes out at 0.30, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.30 over 3. The 5-year figure is n/a, and annualized covariance runs at 67.8 %².
Few assets follow MACI as closely as XAIR, which ranks #3 of 71 tracked partners. The last year tells two different stories: MACI led by 91.9 percentage points, +4.4% for MACI against -87.5% for XAIR. Risk is not evenly split, since XAIR carries 50.8 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 XAIR: side by side
| MACI (Melar Acquisition Corp. I - Class A) | XAIR (Beyond Air, Inc.) | |
|---|---|---|
| 1-year return | +4.4% | -87.5% |
| 5-year return | n/a | -99.9% |
| Volatility (ann.) | 2.1% | 106.7% |
| Beta vs S&P 500 | -0.03 | 0.35 |
| Max drawdown (3Y) | -2.0% | -99.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MACI | XAIR |
|---|---|---|
| 2022 | – | -31.2% |
| 2023 | – | -69.8% |
| 2024 | – | -81.7% |
| 2025 | +5.7% | -89.9% |
| 2026 | +3.1% | -60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and XAIR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MACI and XAIR?
As of 2026-08-27, the correlation of weekly returns between MACI and XAIR is 0.30 over 3 years, 0.34 over 1 year and n/a over 5 years.
Is XAIR a good diversifier for MACI?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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-xair.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/maci-vs-xair/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MACI correlations · XAIR correlations
