MGIH vs WAFU: Correlation
Millennium Group International Holdings Limited (MGIH) and Wah Fu Education Group Limited (WAFU) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGIH and WAFU?
On 3 years of weekly data the MGIH/WAFU correlation comes out at 0.33, moderate. The link has tightened recently: the 1-year correlation (0.57) runs above the 3-year figure (0.33). The 5-year figure is n/a, and annualized covariance runs at 1408.1 %².
Among the 12 assets we track against MGIH, WAFU ranks #7 by 3-year correlation. On 12-month performance WAFU holds a 10.9-point edge, -13.8% against -2.9%. One caveat on sizing: MGIH is 2.4 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.
MGIH vs WAFU: side by side
| MGIH (Millennium Group International Holdings Limited) | WAFU (Wah Fu Education Group Limited) | |
|---|---|---|
| 1-year return | -13.8% | -2.9% |
| 5-year return | n/a | -79.7% |
| Volatility (ann.) | 100.5% | 42.3% |
| Beta vs S&P 500 | 0.32 | 0.61 |
| Max drawdown (3Y) | -60.1% | -55.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGIH | WAFU |
|---|---|---|
| 2022 | – | -43.4% |
| 2023 | – | -4.2% |
| 2024 | +21.8% | -22.4% |
| 2025 | -17.9% | -7.1% |
| 2026 | +26.6% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGIH and WAFU good diversifiers for each other?
Reasonably. At 0.33, MGIH and WAFU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MGIH and WAFU?
The MGIH/WAFU correlation stands at 0.33 on a 3-year window (1 year: 0.57, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WAFU a good diversifier for MGIH?
Reasonably. At 0.33, MGIH and WAFU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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/mgih-vs-wafu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgih-vs-wafu/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MGIH correlations · WAFU correlations
