MEGL vs SFM: Correlation
Magic Empire Global Limited - Class A (MEGL) and Sprouts Farmers Market, Inc. (SFM) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and SFM?
On 3 years of weekly data the MEGL/SFM correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.20 versus -0.29 over 3 years. The 5-year figure is -0.13, and annualized covariance runs at -1909.3 %².
By 3-year correlation, SFM places #33 of the 38 assets tracked against MEGL. Correlation aside, the last 12 months split them widely, with MEGL ahead by 27.3 points (-16.7% versus -44.0%). Note the risk asymmetry: MEGL runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SFM: side by side
| MEGL (Magic Empire Global Limited - Class A) | SFM (Sprouts Farmers Market, Inc.) | |
|---|---|---|
| 1-year return | -16.7% | -44.0% |
| 5-year return | n/a | +228.8% |
| Volatility (ann.) | 170.2% | 39.2% |
| Beta vs S&P 500 | -0.70 | 0.38 |
| Max drawdown (3Y) | -68.7% | -63.5% |
| Market cap | – | $7.6B |
| P/E (trailing) | – | 15.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | SFM |
|---|---|---|
| 2022 | – | +9.1% |
| 2023 | -7.3% | +48.6% |
| 2024 | -54.4% | +164.1% |
| 2025 | +117.6% | -37.3% |
| 2026 | -0.4% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and SFM good diversifiers for each other?
Yes. With a correlation of -0.29, MEGL and SFM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and SFM?
As of 2026-08-27, the correlation of weekly returns between MEGL and SFM is -0.29 over 3 years, 0.20 over 1 year and -0.13 over 5 years.
Is SFM a good diversifier for MEGL?
Yes. With a correlation of -0.29, MEGL and SFM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 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
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Related comparisons
Hubs: MEGL correlations · SFM correlations
