MEGL vs URI: Correlation
Magic Empire Global Limited - Class A (MEGL) and United Rentals (URI) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and URI?
Across a 3-year window, the weekly returns of MEGL and URI correlate at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.11) sits close to the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -1126.1 %².
Within MEGL's tracked universe of 38 assets, URI comes in at #14 by 3-year correlation. The last year tells two different stories: URI led by 26.9 percentage points, -16.7% for MEGL against +10.2% for URI. One caveat on sizing: MEGL is 4.3 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 URI: side by side
| MEGL (Magic Empire Global Limited - Class A) | URI (United Rentals) | |
|---|---|---|
| 1-year return | -16.7% | +10.2% |
| 5-year return | n/a | +204.1% |
| Volatility (ann.) | 170.2% | 39.5% |
| Beta vs S&P 500 | -0.70 | 1.42 |
| Max drawdown (3Y) | -68.7% | -37.0% |
| Market cap | – | $64.6B |
| P/E (trailing) | – | 25.4 |
| Dividend yield | 0.00% | 0.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MEGL | URI |
|---|---|---|
| 2022 | – | +7.0% |
| 2023 | -7.3% | +63.6% |
| 2024 | -54.4% | +24.0% |
| 2025 | +117.6% | +15.9% |
| 2026 | -0.4% | +29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and URI good diversifiers for each other?
Yes. With a correlation of -0.17, MEGL and URI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and URI?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.11 over the last year and -0.11 over 5 years.
Is URI a good diversifier for MEGL?
Yes. With a correlation of -0.17, MEGL and URI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 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
$ curl https://www.pairbook.io/api/v1/pairs/megl-vs-uri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/megl-vs-uri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGL correlations · URI correlations
