MEGL vs PLGO: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and Pelagos Insurance Capital Limited (PLGO) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and PLGO?
On 3 years of weekly data the MEGL/PLGO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.22). The 5-year figure is n/a, and annualized covariance runs at -1088.6 %².
By 3-year correlation, PLGO places #24 of the 38 assets tracked against MEGL. Their recent paths diverged sharply: over the last 12 months PLGO outperformed by 60.8 percentage points (-16.7% for MEGL against +44.1% for PLGO). One caveat on sizing: MEGL is 5.8 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 PLGO: side by side
| MEGL (Magic Empire Global Limited - Class A) | PLGO (Pelagos Insurance Capital Limited) | |
|---|---|---|
| 1-year return | -16.7% | +44.1% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 170.2% | 29.5% |
| Beta vs S&P 500 | -0.70 | 0.43 |
| Max drawdown (3Y) | -68.7% | -29.9% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | 6.1 |
| Dividend yield | 0.00% | 2.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | PLGO |
|---|---|---|
| 2023 | -7.3% | – |
| 2024 | -54.4% | +46.3% |
| 2025 | +117.6% | +9.4% |
| 2026 | -0.4% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and PLGO good diversifiers for each other?
Yes. With a correlation of -0.22, MEGL and PLGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and PLGO?
As of 2026-08-27, the correlation of weekly returns between MEGL and PLGO is -0.22 over 3 years, 0.01 over 1 year and n/a over 5 years.
Is PLGO a good diversifier for MEGL?
Yes. With a correlation of -0.22, MEGL and PLGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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-plgo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/megl-vs-plgo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGL correlations · PLGO correlations
