API vs MQ: Correlation
How closely do Agora, Inc. (API) and Marqeta, Inc. (MQ) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are API and MQ?
Across a 3-year window, the weekly returns of API and MQ correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.29). Stretching to 5 years gives -0.02, with an annualized covariance of -1206.5 %².
Among the 14 assets we track against API, MQ sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with API ahead by 51.1 points (+15.7% versus -35.4%). Risk is not evenly split, since API carries 2.2 times the volatility of the other side.
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.
API vs MQ: side by side
| API (Agora, Inc.) | MQ (Marqeta, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | -35.4% |
| 5-year return | -86.7% | -85.0% |
| Volatility (ann.) | 96.1% | 43.5% |
| Beta vs S&P 500 | 1.90 | 0.49 |
| Max drawdown (3Y) | -60.8% | -53.3% |
| Market cap | $0.3B | $1.7B |
| P/E (trailing) | 45.1 | 180.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | API | MQ |
|---|---|---|
| 2022 | -75.9% | -64.4% |
| 2023 | -32.7% | +14.2% |
| 2024 | +58.2% | -45.7% |
| 2025 | -2.2% | +25.3% |
| 2026 | -0.2% | -14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are API and MQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between API and MQ?
The API/MQ correlation stands at -0.29 on a 3-year window (1 year: -0.07, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is MQ a good diversifier for API?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 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/api-vs-mq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/api-vs-mq/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: API correlations · MQ correlations
