MGPI vs XWEL: Correlation
How closely do MGP Ingredients, Inc. (MGPI) and XWELL, Inc. (XWEL) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGPI and XWEL?
Across a 3-year window, the weekly returns of MGPI and XWEL correlate at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.56 versus -0.29 over 3 years. Stretching to 5 years gives -0.20, with an annualized covariance of -2173.7 %².
Out of 11 assets tracked against MGPI, XWEL lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with XWEL ahead by 36.5 points (-44.0% versus -7.5%). Risk is not evenly split, since XWEL carries 4.7 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.
MGPI vs XWEL: side by side
| MGPI (MGP Ingredients, Inc.) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -44.0% | -7.5% |
| 5-year return | -73.6% | -97.2% |
| Volatility (ann.) | 40.4% | 188.4% |
| Beta vs S&P 500 | 0.75 | 0.41 |
| Max drawdown (3Y) | -86.5% | -92.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.75% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGPI | XWEL |
|---|---|---|
| 2022 | +25.8% | -82.2% |
| 2023 | -7.0% | -75.8% |
| 2024 | -59.8% | -13.2% |
| 2025 | -37.3% | -69.5% |
| 2026 | -31.7% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGPI and XWEL good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGPI and XWEL?
The MGPI/XWEL correlation stands at -0.29 on a 3-year window (1 year: -0.56, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is XWEL a good diversifier for MGPI?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/mgpi-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgpi-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGPI correlations · XWEL correlations
