MGEE vs NIKI: Correlation
MGE Energy Inc. (MGEE) and Niki BioSolutions, Inc. (NIKI) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGEE and NIKI?
Over the past 3 years, MGEE and NIKI moved with a correlation of 0.49, which is moderate. Lately the two have drifted apart, with the 1-year correlation at -0.11 versus 0.49 over 3 years. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 3021.4 %².
Among the 15 assets we track against MGEE, NIKI ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGEE ahead by 58.2 points (-8.3% versus -66.5%). Note the risk asymmetry: NIKI runs 8.3 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.
MGEE vs NIKI: side by side
| MGEE (MGE Energy Inc.) | NIKI (Niki BioSolutions, Inc.) | |
|---|---|---|
| 1-year return | -8.3% | -66.5% |
| 5-year return | +8.2% | -97.1% |
| Volatility (ann.) | 27.4% | 227.3% |
| Beta vs S&P 500 | 0.26 | 0.93 |
| Max drawdown (3Y) | -30.9% | -94.8% |
| Market cap | $3.0B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 2.39% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGEE | NIKI |
|---|---|---|
| 2022 | -12.6% | -63.3% |
| 2023 | +5.1% | -55.5% |
| 2024 | +32.8% | +14.3% |
| 2025 | -14.7% | -62.1% |
| 2026 | +1.1% | -28.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGEE and NIKI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MGEE and NIKI?
The MGEE/NIKI correlation stands at 0.49 on a 3-year window (1 year: -0.11, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is NIKI a good diversifier for MGEE?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mgee-vs-niki.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mgee-vs-niki/)
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Related comparisons
Hubs: MGEE correlations · NIKI correlations
