MEGL vs NHC: Correlation
Magic Empire Global Limited - Class A (MEGL) and National HealthCare Corporation (NHC) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and NHC?
On 3 years of weekly data the MEGL/NHC correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.23 over 3. The 5-year figure is -0.16, and annualized covariance runs at -1179.3 %².
Within MEGL's tracked universe of 38 assets, NHC comes in at #25 by 3-year correlation. The last year tells two different stories: NHC led by 118.6 percentage points, -16.7% for MEGL against +101.9% for NHC. Risk is not evenly split, since MEGL carries 5.7 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 NHC: side by side
| MEGL (Magic Empire Global Limited - Class A) | NHC (National HealthCare Corporation) | |
|---|---|---|
| 1-year return | -16.7% | +101.9% |
| 5-year return | n/a | +243.9% |
| Volatility (ann.) | 170.2% | 29.9% |
| Beta vs S&P 500 | -0.70 | 0.50 |
| Max drawdown (3Y) | -68.7% | -33.4% |
| Market cap | – | $3.5B |
| P/E (trailing) | – | 25.0 |
| Dividend yield | 0.00% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | NHC |
|---|---|---|
| 2022 | – | -9.4% |
| 2023 | -7.3% | +60.8% |
| 2024 | -54.4% | +19.0% |
| 2025 | +117.6% | +30.3% |
| 2026 | -0.4% | +63.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and NHC good diversifiers for each other?
Yes. With a correlation of -0.23, MEGL and NHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and NHC?
As of 2026-08-27, the correlation of weekly returns between MEGL and NHC is -0.23 over 3 years, -0.23 over 1 year and -0.16 over 5 years.
Is NHC a good diversifier for MEGL?
Yes. With a correlation of -0.23, MEGL and NHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/megl-vs-nhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-nhc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGL correlations · NHC correlations
