MEGL vs TFII: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and TFI International Inc. (TFII) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and TFII?
Over the past 3 years, MEGL and TFII moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.19 versus -0.38 over 3 years. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -2286.5 %².
Out of 38 assets tracked against MEGL, TFII lands near the bottom at #38. Their recent paths diverged sharply: over the last 12 months TFII outperformed by 62.6 percentage points (-16.7% for MEGL against +45.9% for TFII). Risk is not evenly split, since MEGL carries 4.8 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 TFII: side by side
| MEGL (Magic Empire Global Limited - Class A) | TFII (TFI International Inc.) | |
|---|---|---|
| 1-year return | -16.7% | +45.9% |
| 5-year return | n/a | +27.7% |
| Volatility (ann.) | 170.2% | 35.1% |
| Beta vs S&P 500 | -0.70 | 1.02 |
| Max drawdown (3Y) | -68.7% | -53.8% |
| Market cap | – | $11.2B |
| P/E (trailing) | – | 33.2 |
| Dividend yield | 0.00% | 1.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | TFII |
|---|---|---|
| 2022 | – | -9.5% |
| 2023 | -7.3% | +37.3% |
| 2024 | -54.4% | +0.5% |
| 2025 | +117.6% | -22.7% |
| 2026 | -0.4% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and TFII good diversifiers for each other?
Yes. With a correlation of -0.38, MEGL and TFII have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and TFII?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.19 over the last year and -0.30 over 5 years.
Is TFII a good diversifier for MEGL?
Yes. With a correlation of -0.38, MEGL and TFII have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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-tfii.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-tfii/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MEGL correlations · TFII correlations
