BWA vs MGA: Correlation
Measured on weekly returns over the past three years, BorgWarner Inc. (BWA) and Magna International, Inc. (MGA) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWA and MGA?
Over the past 3 years, BWA and MGA moved with a correlation of 0.62, which is strong. The past 12 months show a tighter link (0.74) than the 3-year average (0.62). Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 573.3 %².
In BWA's tracked universe of 16 assets, MGA sits right near the top at #1. Over the last 12 months BWA came out ahead by 5.7 percentage points (+50.9% against +45.2%).
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.
BWA vs MGA: side by side
| BWA (BorgWarner Inc.) | MGA (Magna International, Inc.) | |
|---|---|---|
| 1-year return | +50.9% | +45.2% |
| 5-year return | +84.0% | -1.8% |
| Volatility (ann.) | 29.6% | 31.5% |
| Beta vs S&P 500 | 0.54 | 0.87 |
| Max drawdown (3Y) | -38.7% | -45.6% |
| Market cap | $13.2B | $17.6B |
| P/E (trailing) | 31.9 | 24.2 |
| Dividend yield | 1.05% | 2.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWA | MGA |
|---|---|---|
| 2022 | -9.2% | -28.6% |
| 2023 | +2.5% | +8.8% |
| 2024 | -10.2% | -26.3% |
| 2025 | +43.9% | +32.4% |
| 2026 | +44.6% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWA and MGA good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BWA and MGA?
As of 2026-08-27, the correlation of weekly returns between BWA and MGA is 0.62 over 3 years, 0.74 over 1 year and 0.70 over 5 years.
Is MGA a good diversifier for BWA?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
A reading of 0.62 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/bwa-vs-mga.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwa-vs-mga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWA correlations · MGA correlations
