APPS vs MGNI: Correlation
Digital Turbine, Inc. (APPS) and Magnite, Inc. (MGNI) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPS and MGNI?
On 3 years of weekly data the APPS/MGNI correlation comes out at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 3885.1 %².
Few assets follow APPS as closely as MGNI, which ranks #2 of 14 tracked partners. Their recent paths diverged sharply: over the last 12 months APPS outperformed by 181.6 percentage points (+173.0% for APPS against -8.6% for MGNI). Risk is not evenly split, since APPS carries 2.0 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.
APPS vs MGNI: side by side
| APPS (Digital Turbine, Inc.) | MGNI (Magnite, Inc.) | |
|---|---|---|
| 1-year return | +173.0% | -8.6% |
| 5-year return | -77.7% | -17.8% |
| Volatility (ann.) | 130.3% | 63.6% |
| Beta vs S&P 500 | 2.13 | 1.94 |
| Max drawdown (3Y) | -86.7% | -57.8% |
| Market cap | $1.4B | $3.4B |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APPS | MGNI |
|---|---|---|
| 2022 | -75.0% | -39.5% |
| 2023 | -55.0% | -11.8% |
| 2024 | -75.4% | +70.4% |
| 2025 | +195.9% | +1.9% |
| 2026 | +128.8% | +43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPS and MGNI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APPS and MGNI?
As of 2026-08-27, the correlation of weekly returns between APPS and MGNI is 0.47 over 3 years, 0.54 over 1 year and 0.51 over 5 years.
Is MGNI a good diversifier for APPS?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/apps-vs-mgni.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apps-vs-mgni/)
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Related comparisons
Hubs: APPS correlations · MGNI correlations
