MEGL vs UNB: Correlation
How closely do Magic Empire Global Limited - Class A (MEGL) and Union Bankshares, Inc. (UNB) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and UNB?
On 3 years of weekly data the MEGL/UNB correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.24). The 5-year figure is -0.13, and annualized covariance runs at -1425.1 %².
By 3-year correlation, UNB places #27 of the 38 assets tracked against MEGL. On 12-month performance UNB holds a 11.2-point edge, -16.7% against -5.5%. Note the risk asymmetry: MEGL runs 4.9 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 UNB: side by side
| MEGL (Magic Empire Global Limited - Class A) | UNB (Union Bankshares, Inc.) | |
|---|---|---|
| 1-year return | -16.7% | -5.5% |
| 5-year return | n/a | -7.4% |
| Volatility (ann.) | 170.2% | 34.7% |
| Beta vs S&P 500 | -0.70 | 0.57 |
| Max drawdown (3Y) | -68.7% | -40.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.00% | 6.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | UNB |
|---|---|---|
| 2022 | – | -15.4% |
| 2023 | -7.3% | +35.3% |
| 2024 | -54.4% | -0.7% |
| 2025 | +117.6% | -13.8% |
| 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 UNB good diversifiers for each other?
Yes. With a correlation of -0.24, MEGL and UNB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and UNB?
As of 2026-08-27, the correlation of weekly returns between MEGL and UNB is -0.24 over 3 years, -0.01 over 1 year and -0.13 over 5 years.
Is UNB a good diversifier for MEGL?
Yes. With a correlation of -0.24, MEGL and UNB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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-unb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-unb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MEGL correlations · UNB correlations
