ACXP vs MGA: Correlation
How closely do Acurx Pharmaceuticals, Inc. (ACXP) and Magna International, Inc. (MGA) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACXP and MGA?
Over the past 3 years, ACXP and MGA moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1129.1 %².
Among the 32 assets we track against ACXP, MGA ranks #17 by 3-year correlation. The last year tells two different stories: MGA led by 115.2 percentage points, -70.0% for ACXP against +45.2% for MGA. One caveat on sizing: ACXP is 5.4 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.
ACXP vs MGA: side by side
| ACXP (Acurx Pharmaceuticals, Inc.) | MGA (Magna International, Inc.) | |
|---|---|---|
| 1-year return | -70.0% | +45.2% |
| 5-year return | -98.5% | -1.8% |
| Volatility (ann.) | 170.6% | 31.5% |
| Beta vs S&P 500 | -0.66 | 0.87 |
| Max drawdown (3Y) | -98.8% | -45.6% |
| Market cap | – | $17.6B |
| P/E (trailing) | – | 24.2 |
| Dividend yield | 0.00% | 2.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACXP | MGA |
|---|---|---|
| 2022 | -7.9% | -28.6% |
| 2023 | -3.8% | +8.8% |
| 2024 | -78.7% | -26.3% |
| 2025 | -84.7% | +32.4% |
| 2026 | -41.4% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACXP and MGA good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACXP and MGA?
The ACXP/MGA correlation stands at -0.21 on a 3-year window (1 year: -0.31, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is MGA a good diversifier for ACXP?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acxp-vs-mga.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acxp-vs-mga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACXP correlations · MGA correlations
