MEGL vs WMT: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and Walmart (WMT) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and WMT?
Across a 3-year window, the weekly returns of MEGL and WMT correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.17, with an annualized covariance of -1037.2 %².
Among the 38 assets we track against MEGL, WMT ranks #30 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WMT ahead by 24.4 points (-16.7% versus +7.7%). One caveat on sizing: MEGL is 7.4 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 WMT: side by side
| MEGL (Magic Empire Global Limited - Class A) | WMT (Walmart) | |
|---|---|---|
| 1-year return | -16.7% | +7.7% |
| 5-year return | n/a | +121.9% |
| Volatility (ann.) | 170.2% | 23.0% |
| Beta vs S&P 500 | -0.70 | 0.53 |
| Max drawdown (3Y) | -68.7% | -23.3% |
| Market cap | – | $816.7B |
| P/E (trailing) | – | 37.1 |
| Dividend yield | 0.00% | 0.92% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | MEGL | WMT |
|---|---|---|
| 2022 | – | -0.5% |
| 2023 | -7.3% | +12.9% |
| 2024 | -54.4% | +74.0% |
| 2025 | +117.6% | +24.5% |
| 2026 | -0.4% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and WMT good diversifiers for each other?
Yes. With a correlation of -0.27, MEGL and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGL and WMT?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.20 over the last year and -0.17 over 5 years.
Is WMT a good diversifier for MEGL?
Yes. With a correlation of -0.27, MEGL and WMT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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.
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Related comparisons
Hubs: MEGL correlations · WMT correlations
