MXC vs UAL: Correlation
How closely do Mexco Energy Corporation (MXC) and United Airlines Holdings (UAL) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXC and UAL?
Across a 3-year window, the weekly returns of MXC and UAL correlate at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.25 over 3. Stretching to 5 years gives -0.17, with an annualized covariance of -734.7 %².
By 3-year correlation, UAL places #45 of the 56 assets tracked against MXC. Over the last 12 months MXC came out ahead by 13.8 percentage points (+21.6% against +7.8%).
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.
MXC vs UAL: side by side
| MXC (Mexco Energy Corporation) | UAL (United Airlines Holdings) | |
|---|---|---|
| 1-year return | +21.6% | +7.8% |
| 5-year return | +7.2% | +144.8% |
| Volatility (ann.) | 62.1% | 46.6% |
| Beta vs S&P 500 | -0.31 | 1.33 |
| Max drawdown (3Y) | -60.6% | -49.2% |
| Market cap | – | $36.5B |
| P/E (trailing) | 13.0 | 10.8 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MXC | UAL |
|---|---|---|
| 2022 | +33.0% | -13.9% |
| 2023 | -26.2% | +9.4% |
| 2024 | +24.6% | +135.3% |
| 2025 | -10.8% | +15.2% |
| 2026 | -0.6% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXC and UAL good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between MXC and UAL?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.33 over the last year and -0.17 over 5 years.
Is UAL a good diversifier for MXC?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/mxc-vs-ual.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mxc-vs-ual/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MXC correlations · UAL correlations
