MXL vs TWN: Correlation
How closely do MaxLinear, Inc (MXL) and Taiwan Fund, Inc. (The) (TWN) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXL and TWN?
On 3 years of weekly data the MXL/TWN correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 1611.7 %².
TWN is one of the assets that tracks MXL most closely: it ranks #3 out of the 24 assets we track against MXL. Their recent paths diverged sharply: over the last 12 months MXL outperformed by 151.1 percentage points (+278.9% for MXL against +127.8% for TWN). Note the risk asymmetry: MXL runs 3.6 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.
MXL vs TWN: side by side
| MXL (MaxLinear, Inc) | TWN (Taiwan Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +278.9% | +127.8% |
| 5-year return | +19.8% | +320.4% |
| Volatility (ann.) | 105.2% | 28.9% |
| Beta vs S&P 500 | 2.50 | 1.26 |
| Max drawdown (3Y) | -63.9% | -30.0% |
| Market cap | $5.8B | $0.6B |
| P/E (trailing) | – | 2.6 |
| Dividend yield | 0.00% | 6.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXL | TWN |
|---|---|---|
| 2022 | -55.0% | -38.5% |
| 2023 | -30.0% | +51.7% |
| 2024 | -16.8% | +32.8% |
| 2025 | -11.9% | +54.1% |
| 2026 | +263.9% | +92.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXL and TWN good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MXL and TWN?
As of 2026-08-27, the correlation of weekly returns between MXL and TWN is 0.53 over 3 years, 0.55 over 1 year and 0.52 over 5 years.
Is TWN a good diversifier for MXL?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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: MXL correlations · TWN correlations
