ACT vs MTG: Correlation
Measured on weekly returns over the past three years, Enact Holdings, Inc. (ACT) and MGIC Investment Corporation (MTG) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACT and MTG?
Across a 3-year window, the weekly returns of ACT and MTG correlate at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 346.6 %².
Few assets follow ACT as closely as MTG, which ranks #2 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with ACT ahead by 17.8 points (+31.3% versus +13.5%).
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.
ACT vs MTG: side by side
| ACT (Enact Holdings, Inc.) | MTG (MGIC Investment Corporation) | |
|---|---|---|
| 1-year return | +31.3% | +13.5% |
| 5-year return | +200.2% | +129.5% |
| Volatility (ann.) | 19.7% | 21.6% |
| Beta vs S&P 500 | 0.46 | 0.57 |
| Max drawdown (3Y) | -15.3% | -15.8% |
| Market cap | $6.7B | $6.4B |
| P/E (trailing) | 10.4 | 9.8 |
| Dividend yield | 1.77% | 1.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACT | MTG |
|---|---|---|
| 2022 | +24.1% | -7.5% |
| 2023 | +25.8% | +52.4% |
| 2024 | +14.7% | +25.7% |
| 2025 | +25.2% | +25.9% |
| 2026 | +25.6% | +8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACT and MTG good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ACT and MTG?
The ACT/MTG correlation stands at 0.82 on a 3-year window (1 year: 0.77, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is MTG a good diversifier for ACT?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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/act-vs-mtg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/act-vs-mtg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACT correlations · MTG correlations
