BGSF vs MSGS: Correlation
BGSF, Inc. (BGSF) and Madison Square Garden Sports Corp. (MSGS) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGSF and MSGS?
Over the past 3 years, BGSF and MSGS moved with a correlation of 0.33, which is moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.33 over 3. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 411.2 %².
By 3-year correlation, MSGS places #5 of the 12 assets tracked against BGSF. Their recent paths diverged sharply: over the last 12 months MSGS outperformed by 80.8 percentage points (+19.8% for BGSF against +100.6% for MSGS). Note the risk asymmetry: BGSF runs 2.3 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.
BGSF vs MSGS: side by side
| BGSF (BGSF, Inc.) | MSGS (Madison Square Garden Sports Corp.) | |
|---|---|---|
| 1-year return | +19.8% | +100.6% |
| 5-year return | -36.0% | +131.3% |
| Volatility (ann.) | 54.3% | 23.2% |
| Beta vs S&P 500 | 0.47 | 0.62 |
| Max drawdown (3Y) | -71.9% | -25.5% |
| Market cap | $0.1B | $9.5B |
| P/E (trailing) | – | 1230.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGSF | MSGS |
|---|---|---|
| 2022 | +11.7% | +10.5% |
| 2023 | -35.1% | -0.8% |
| 2024 | -43.4% | +24.1% |
| 2025 | +23.0% | +14.6% |
| 2026 | +15.8% | +52.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGSF and MSGS good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BGSF and MSGS?
The BGSF/MSGS correlation stands at 0.33 on a 3-year window (1 year: 0.38, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is MSGS a good diversifier for BGSF?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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/bgsf-vs-msgs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgsf-vs-msgs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BGSF correlations · MSGS correlations
