MLGO vs RAY: Correlation
How closely do MicroAlgo, Inc. (MLGO) and Raytech Holding Limited (RAY) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLGO and RAY?
Over the past 3 years, MLGO and RAY moved with a correlation of 0.33, which is moderate. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.33). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 26620.9 %².
Among the 33 assets we track against MLGO, RAY ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MLGO ahead by 31.1 points (-52.9% versus -84.0%). Note the risk asymmetry: MLGO runs 3.4 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.
MLGO vs RAY: side by side
| MLGO (MicroAlgo, Inc.) | RAY (Raytech Holding Limited) | |
|---|---|---|
| 1-year return | -52.9% | -84.0% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 489.7% | 146.1% |
| Beta vs S&P 500 | -2.77 | 0.37 |
| Max drawdown (3Y) | -100.0% | -97.7% |
| Market cap | – | – |
| P/E (trailing) | 1.9 | 3.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLGO | RAY |
|---|---|---|
| 2022 | -87.6% | – |
| 2023 | -27.0% | – |
| 2024 | -97.9% | – |
| 2025 | -96.1% | -90.5% |
| 2026 | -6.3% | +36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLGO and RAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MLGO and RAY?
As of 2026-08-27, the correlation of weekly returns between MLGO and RAY is 0.33 over 3 years, 0.05 over 1 year and n/a over 5 years.
Is RAY a good diversifier for MLGO?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
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Related comparisons
Hubs: MLGO correlations · RAY correlations
