MEGL vs XOS: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and Xos, Inc. (XOS) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and XOS?
On 3 years of weekly data the MEGL/XOS correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.44). The 5-year figure is 0.32, and annualized covariance runs at 9058.2 %².
XOS is one of the assets that tracks MEGL most closely: it ranks #3 out of the 38 assets we track against MEGL. The last year tells two different stories: XOS led by 34.8 percentage points, -16.7% for MEGL against +18.1% for XOS.
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 XOS: side by side
| MEGL (Magic Empire Global Limited - Class A) | XOS (Xos, Inc.) | |
|---|---|---|
| 1-year return | -16.7% | +18.1% |
| 5-year return | n/a | -98.2% |
| Volatility (ann.) | 170.2% | 122.0% |
| Beta vs S&P 500 | -0.70 | 0.87 |
| Max drawdown (3Y) | -68.7% | -88.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGL | XOS |
|---|---|---|
| 2022 | – | -85.9% |
| 2023 | -7.3% | -40.0% |
| 2024 | -54.4% | -59.4% |
| 2025 | +117.6% | -44.1% |
| 2026 | -0.4% | +95.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and XOS good diversifiers for each other?
Reasonably. At 0.44, MEGL and XOS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MEGL and XOS?
The MEGL/XOS correlation stands at 0.44 on a 3-year window (1 year: 0.07, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is XOS a good diversifier for MEGL?
Reasonably. At 0.44, MEGL and XOS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-xos.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megl-vs-xos/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGL correlations · XOS correlations
