MWG vs TWIN: Correlation
Multi Ways Holdings Limited Class A (MWG) and Twin Disc, Incorporated (TWIN) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWG and TWIN?
Over the past 3 years, MWG and TWIN moved with a correlation of 0.28, which is weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1241.9 %².
TWIN is one of the assets that tracks MWG most closely: it ranks #2 out of the 10 assets we track against MWG. Correlation aside, the last 12 months split them widely, with TWIN ahead by 132.8 points (-46.6% versus +86.2%). Note the risk asymmetry: MWG runs 1.7 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.
MWG vs TWIN: side by side
| MWG (Multi Ways Holdings Limited Class A) | TWIN (Twin Disc, Incorporated) | |
|---|---|---|
| 1-year return | -46.6% | +86.2% |
| 5-year return | n/a | +98.7% |
| Volatility (ann.) | 87.1% | 50.6% |
| Beta vs S&P 500 | 0.47 | 0.83 |
| Max drawdown (3Y) | -81.5% | -64.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 12.6 |
| Dividend yield | 0.00% | 0.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MWG | TWIN |
|---|---|---|
| 2022 | – | -11.3% |
| 2023 | – | +66.7% |
| 2024 | +26.2% | -26.4% |
| 2025 | -6.3% | +44.4% |
| 2026 | -52.3% | +41.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWG and TWIN good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MWG and TWIN?
The MWG/TWIN correlation stands at 0.28 on a 3-year window (1 year: 0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TWIN a good diversifier for MWG?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 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/mwg-vs-twin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mwg-vs-twin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MWG correlations · TWIN correlations
