MWG vs SNAL: Correlation
How closely do Multi Ways Holdings Limited Class A (MWG) and Snail, Inc. (SNAL) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWG and SNAL?
Across a 3-year window, the weekly returns of MWG and SNAL correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.24 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -3032.5 %².
SNAL is close to the least connected end of MWG's tracked universe, ranking #10 of 10. Over the last 12 months SNAL came out ahead by 11.4 percentage points (-46.6% against -35.2%). One caveat on sizing: SNAL is 1.7 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.
MWG vs SNAL: side by side
| MWG (Multi Ways Holdings Limited Class A) | SNAL (Snail, Inc.) | |
|---|---|---|
| 1-year return | -46.6% | -35.2% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 87.1% | 146.7% |
| Beta vs S&P 500 | 0.47 | 2.22 |
| Max drawdown (3Y) | -81.5% | -88.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MWG | SNAL |
|---|---|---|
| 2023 | – | -17.7% |
| 2024 | +26.2% | +53.7% |
| 2025 | -6.3% | -52.2% |
| 2026 | -52.3% | -33.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWG and SNAL good diversifiers for each other?
Yes. With a correlation of -0.24, MWG and SNAL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MWG and SNAL?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.31 over the last year and n/a over 5 years.
Is SNAL a good diversifier for MWG?
Yes. With a correlation of -0.24, MWG and SNAL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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.
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Related comparisons
Hubs: MWG correlations · SNAL correlations
