AIRJ vs MGNI: Correlation
Measured on weekly returns over the past three years, AirJoule Technologies Corporation (AIRJ) and Magnite, Inc. (MGNI) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRJ and MGNI?
Across a 3-year window, the weekly returns of AIRJ and MGNI correlate at 0.29, weak. The past 12 months show a tighter link (0.48) than the 3-year average (0.29). Stretching to 5 years gives 0.18, with an annualized covariance of 1229.0 %².
Among the 13 assets we track against AIRJ, MGNI ranks #5 by 3-year correlation. On 12-month performance AIRJ holds a 7.0-point edge, -1.6% against -8.6%.
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.
AIRJ vs MGNI: side by side
| AIRJ (AirJoule Technologies Corporation) | MGNI (Magnite, Inc.) | |
|---|---|---|
| 1-year return | -1.6% | -8.6% |
| 5-year return | -51.6% | -17.8% |
| Volatility (ann.) | 67.0% | 63.6% |
| Beta vs S&P 500 | 0.94 | 1.94 |
| Max drawdown (3Y) | -91.4% | -57.8% |
| Market cap | $0.4B | $3.4B |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRJ | MGNI |
|---|---|---|
| 2022 | – | -39.5% |
| 2023 | +6.7% | -11.8% |
| 2024 | -25.8% | +70.4% |
| 2025 | -50.5% | +1.9% |
| 2026 | +21.6% | +43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRJ and MGNI good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AIRJ and MGNI?
The AIRJ/MGNI correlation stands at 0.29 on a 3-year window (1 year: 0.48, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is MGNI a good diversifier for AIRJ?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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/airj-vs-mgni.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/airj-vs-mgni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRJ correlations · MGNI correlations
