MEGL vs NVRI: Correlation
Magic Empire Global Limited - Class A (MEGL) and Enviri Corporation (NVRI) 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 NVRI?
Across a 3-year window, the weekly returns of MEGL and NVRI correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.16) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -1965.3 %².
Among the 38 assets we track against MEGL, NVRI ranks #26 by 3-year correlation. The last year tells two different stories: NVRI led by 114.7 percentage points, -16.7% for MEGL against +98.0% for NVRI. One caveat on sizing: MEGL is 3.4 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.
MEGL vs NVRI: side by side
| MEGL (Magic Empire Global Limited - Class A) | NVRI (Enviri Corporation) | |
|---|---|---|
| 1-year return | -16.7% | +98.0% |
| 5-year return | n/a | +22.4% |
| Volatility (ann.) | 170.2% | 49.8% |
| Beta vs S&P 500 | -0.70 | 1.20 |
| Max drawdown (3Y) | -68.7% | -60.7% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | NVRI |
|---|---|---|
| 2022 | – | -62.4% |
| 2023 | -7.3% | +43.1% |
| 2024 | -54.4% | -14.4% |
| 2025 | +117.6% | +132.7% |
| 2026 | -0.4% | +25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and NVRI good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MEGL and NVRI?
The MEGL/NVRI correlation stands at -0.23 on a 3-year window (1 year: -0.16, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is NVRI a good diversifier for MEGL?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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-nvri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-nvri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGL correlations · NVRI correlations
