MEGL vs SUPN: Correlation
Magic Empire Global Limited - Class A (MEGL) and Supernus Pharmaceuticals, Inc. (SUPN) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and SUPN?
On 3 years of weekly data the MEGL/SUPN correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.27 over 3 years. The 5-year figure is -0.13, and annualized covariance runs at -1465.1 %².
By 3-year correlation, SUPN places #29 of the 38 assets tracked against MEGL. The trailing year gives SUPN the advantage: -16.7% versus -2.0%, a 14.7-point spread. One caveat on sizing: MEGL is 5.2 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 SUPN: side by side
| MEGL (Magic Empire Global Limited - Class A) | SUPN (Supernus Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -16.7% | -2.0% |
| 5-year return | n/a | +67.3% |
| Volatility (ann.) | 170.2% | 32.5% |
| Beta vs S&P 500 | -0.70 | 0.69 |
| Max drawdown (3Y) | -68.7% | -30.1% |
| Market cap | – | $2.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | SUPN |
|---|---|---|
| 2022 | – | +22.3% |
| 2023 | -7.3% | -18.9% |
| 2024 | -54.4% | +24.9% |
| 2025 | +117.6% | +37.4% |
| 2026 | -0.4% | -11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and SUPN good diversifiers for each other?
Yes. With a correlation of -0.27, MEGL and SUPN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and SUPN?
The MEGL/SUPN correlation stands at -0.27 on a 3-year window (1 year: -0.07, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is SUPN a good diversifier for MEGL?
Yes. With a correlation of -0.27, MEGL and SUPN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MEGL correlations · SUPN correlations
