ARKK vs MGNI: Correlation
ARK Innovation ETF (ARKK) and Magnite, Inc. (MGNI) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and MGNI?
On 3 years of weekly data the ARKK/MGNI correlation comes out at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 1429.0 %².
Among the 122 assets we track against ARKK, MGNI ranks #40 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ARKK outperformed by 24.3 percentage points (+15.7% for ARKK against -8.6% for MGNI). Note the risk asymmetry: MGNI runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ARKK vs MGNI: side by side
| ARKK (ARK Innovation ETF) | MGNI (Magnite, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | -8.6% |
| 5-year return | -27.7% | -17.8% |
| Volatility (ann.) | 38.8% | 63.6% |
| Beta vs S&P 500 | 2.07 | 1.94 |
| Max drawdown (3Y) | -39.6% | -57.8% |
| Market cap | – | $3.4B |
| P/E (trailing) | – | 21.2 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | MGNI |
|---|---|---|
| 2022 | -67.0% | -39.5% |
| 2023 | +69.0% | -11.8% |
| 2024 | +8.4% | +70.4% |
| 2025 | +35.5% | +1.9% |
| 2026 | +13.6% | +43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and MGNI good diversifiers for each other?
Only partially. A correlation of 0.58 means ARKK and MGNI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ARKK and MGNI?
The ARKK/MGNI correlation stands at 0.58 on a 3-year window (1 year: 0.59, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is MGNI a good diversifier for ARKK?
Only partially. A correlation of 0.58 means ARKK and MGNI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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
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Related comparisons
Hubs: ARKK correlations · MGNI correlations
