BGS vs MFA: Correlation
Measured on weekly returns over the past three years, B&G Foods, Inc. (BGS) and MFA Financial, Inc. (MFA) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGS and MFA?
Across a 3-year window, the weekly returns of BGS and MFA correlate at 0.42, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.42). Stretching to 5 years gives 0.31, with an annualized covariance of 588.8 %².
MFA is one of the assets that tracks BGS most closely: it ranks #3 out of the 15 assets we track against BGS. Over the last 12 months MFA came out ahead by 14.0 percentage points (-11.2% against +2.8%). Note the risk asymmetry: BGS runs 2.1 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.
BGS vs MFA: side by side
| BGS (B&G Foods, Inc.) | MFA (MFA Financial, Inc.) | |
|---|---|---|
| 1-year return | -11.2% | +2.8% |
| 5-year return | -80.9% | -8.1% |
| Volatility (ann.) | 54.4% | 25.6% |
| Beta vs S&P 500 | 0.09 | 0.64 |
| Max drawdown (3Y) | -63.6% | -31.6% |
| Market cap | $0.3B | $0.9B |
| P/E (trailing) | – | 8.8 |
| Dividend yield | 18.84% | 16.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGS | MFA |
|---|---|---|
| 2022 | -60.7% | -37.2% |
| 2023 | +0.3% | +30.7% |
| 2024 | -28.3% | +2.6% |
| 2025 | -26.8% | +6.1% |
| 2026 | -14.2% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGS and MFA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BGS and MFA?
The BGS/MFA correlation stands at 0.42 on a 3-year window (1 year: 0.52, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is MFA a good diversifier for BGS?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BGS correlations · MFA correlations
