MEGL vs TKO: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and TKO Group Holdings (TKO) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and TKO?
On 3 years of weekly data the MEGL/TKO correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.06 over 1 year against -0.15 over 3. The 5-year figure is -0.02, and annualized covariance runs at -810.3 %².
Among the 38 assets we track against MEGL, TKO ranks #13 by 3-year correlation. The last year tells two different stories: TKO led by 17.5 percentage points, -16.7% for MEGL against +0.8% for TKO. Note the risk asymmetry: MEGL runs 5.3 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 TKO: side by side
| MEGL (Magic Empire Global Limited - Class A) | TKO (TKO Group Holdings) | |
|---|---|---|
| 1-year return | -16.7% | +0.8% |
| 5-year return | n/a | +281.8% |
| Volatility (ann.) | 170.2% | 32.1% |
| Beta vs S&P 500 | -0.70 | 0.70 |
| Max drawdown (3Y) | -68.7% | -34.8% |
| Market cap | – | $34.9B |
| P/E (trailing) | – | 65.8 |
| Dividend yield | 0.00% | 1.66% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | MEGL | TKO |
|---|---|---|
| 2022 | – | +39.9% |
| 2023 | -7.3% | +23.9% |
| 2024 | -54.4% | +74.2% |
| 2025 | +117.6% | +48.9% |
| 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 TKO good diversifiers for each other?
Yes. With a correlation of -0.15, MEGL and TKO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and TKO?
The MEGL/TKO correlation stands at -0.15 on a 3-year window (1 year: -0.06, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is TKO a good diversifier for MEGL?
Yes. With a correlation of -0.15, MEGL and TKO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
A reading of -0.15 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/megl-vs-tko.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-tko/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MEGL correlations · TKO correlations
