MEGL vs MLM: Correlation
Magic Empire Global Limited - Class A (MEGL) and Martin Marietta Materials (MLM) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and MLM?
Across a 3-year window, the weekly returns of MEGL and MLM correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -779.9 %².
By 3-year correlation, MLM places #19 of the 38 assets tracked against MEGL. Their 12-month results are close: -16.7% for MEGL against -13.8% for MLM. Risk is not evenly split, since MEGL carries 7.1 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 MLM: side by side
| MEGL (Magic Empire Global Limited - Class A) | MLM (Martin Marietta Materials) | |
|---|---|---|
| 1-year return | -16.7% | -13.8% |
| 5-year return | n/a | +42.4% |
| Volatility (ann.) | 170.2% | 23.9% |
| Beta vs S&P 500 | -0.70 | 0.85 |
| Max drawdown (3Y) | -68.7% | -26.8% |
| Market cap | – | $37.5B |
| P/E (trailing) | – | 34.4 |
| Dividend yield | 0.00% | 0.62% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | MEGL | MLM |
|---|---|---|
| 2022 | – | -22.7% |
| 2023 | -7.3% | +48.6% |
| 2024 | -54.4% | +4.1% |
| 2025 | +117.6% | +21.3% |
| 2026 | -0.4% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and MLM good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between MEGL and MLM?
The MEGL/MLM correlation stands at -0.19 on a 3-year window (1 year: -0.27, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is MLM a good diversifier for MEGL?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/megl-vs-mlm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-mlm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MEGL correlations · MLM correlations
