MEGL vs RCL: Correlation
How closely do Magic Empire Global Limited - Class A (MEGL) and Royal Caribbean Group (RCL) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and RCL?
Over the past 3 years, MEGL and RCL moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -1403.5 %².
Among the 38 assets we track against MEGL, RCL ranks #20 by 3-year correlation. Their 12-month results are close: -16.7% for MEGL against -19.3% for RCL. Risk is not evenly split, since MEGL carries 4.1 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 RCL: side by side
| MEGL (Magic Empire Global Limited - Class A) | RCL (Royal Caribbean Group) | |
|---|---|---|
| 1-year return | -16.7% | -19.3% |
| 5-year return | n/a | +257.6% |
| Volatility (ann.) | 170.2% | 41.3% |
| Beta vs S&P 500 | -0.70 | 1.46 |
| Max drawdown (3Y) | -68.7% | -35.0% |
| Market cap | – | $76.2B |
| P/E (trailing) | – | 17.9 |
| Dividend yield | 0.00% | 1.72% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | MEGL | RCL |
|---|---|---|
| 2022 | – | -35.7% |
| 2023 | -7.3% | +162.0% |
| 2024 | -54.4% | +79.0% |
| 2025 | +117.6% | +22.5% |
| 2026 | -0.4% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and RCL good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between MEGL and RCL?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.22 over the last year and -0.10 over 5 years.
Is RCL a good diversifier for MEGL?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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-rcl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-rcl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MEGL correlations · RCL correlations
