MEGL vs MGM: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and MGM Resorts (MGM) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and MGM?
Across a 3-year window, the weekly returns of MEGL and MGM correlate at -0.15, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.15 over 3. Stretching to 5 years gives -0.05, with an annualized covariance of -927.6 %².
Among the 38 assets we track against MEGL, MGM ranks #12 by 3-year correlation. The last year tells two different stories: MGM led by 24.7 percentage points, -16.7% for MEGL against +8.0% for MGM. Risk is not evenly split, since MEGL carries 4.8 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.
MEGL vs MGM: side by side
| MEGL (Magic Empire Global Limited - Class A) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | -16.7% | +8.0% |
| 5-year return | n/a | +0.8% |
| Volatility (ann.) | 170.2% | 35.2% |
| Beta vs S&P 500 | -0.70 | 1.18 |
| Max drawdown (3Y) | -68.7% | -46.0% |
| Market cap | – | $11.0B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | MEGL | MGM |
|---|---|---|
| 2022 | – | -25.3% |
| 2023 | -7.3% | +33.3% |
| 2024 | -54.4% | -22.4% |
| 2025 | +117.6% | +5.3% |
| 2026 | -0.4% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and MGM good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between MEGL and MGM?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with -0.17 over the last year and -0.05 over 5 years.
Is MGM a good diversifier for MEGL?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 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/megl-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGL correlations · MGM correlations
