MEGL vs XYZ: Correlation
Measured on weekly returns over the past three years, Magic Empire Global Limited - Class A (MEGL) and Block, Inc. (XYZ) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGL and XYZ?
Across a 3-year window, the weekly returns of MEGL and XYZ correlate at -0.17, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.24) runs above the 3-year figure (-0.17). Stretching to 5 years gives -0.08, with an annualized covariance of -1416.7 %².
By 3-year correlation, XYZ places #15 of the 38 assets tracked against MEGL. Their recent paths diverged sharply: over the last 12 months XYZ outperformed by 23.6 percentage points (-16.7% for MEGL against +6.9% for XYZ). Risk is not evenly split, since MEGL carries 3.4 times the volatility of the other side.
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 XYZ: side by side
| MEGL (Magic Empire Global Limited - Class A) | XYZ (Block, Inc.) | |
|---|---|---|
| 1-year return | -16.7% | +6.9% |
| 5-year return | n/a | -68.8% |
| Volatility (ann.) | 170.2% | 50.2% |
| Beta vs S&P 500 | -0.70 | 1.80 |
| Max drawdown (3Y) | -68.7% | -53.0% |
| Market cap | – | $51.0B |
| P/E (trailing) | – | 151.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | MEGL | XYZ |
|---|---|---|
| 2022 | – | -61.1% |
| 2023 | -7.3% | +23.1% |
| 2024 | -54.4% | +9.9% |
| 2025 | +117.6% | -23.4% |
| 2026 | -0.4% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGL and XYZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between MEGL and XYZ?
As of 2026-08-27, the correlation of weekly returns between MEGL and XYZ is -0.17 over 3 years, 0.24 over 1 year and -0.08 over 5 years.
Is XYZ a good diversifier for MEGL?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
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-xyz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/megl-vs-xyz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MEGL correlations · XYZ correlations
