CGNX vs MGA: Correlation
Measured on weekly returns over the past three years, Cognex Corporation (CGNX) and Magna International, Inc. (MGA) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGNX and MGA?
Over the past 3 years, CGNX and MGA moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 812.4 %².
Within CGNX's tracked universe of 16 assets, MGA comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +43.2% for CGNX and +45.2% for MGA.
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.
CGNX vs MGA: side by side
| CGNX (Cognex Corporation) | MGA (Magna International, Inc.) | |
|---|---|---|
| 1-year return | +43.2% | +45.2% |
| 5-year return | -27.4% | -1.8% |
| Volatility (ann.) | 45.5% | 31.5% |
| Beta vs S&P 500 | 1.27 | 0.87 |
| Max drawdown (3Y) | -55.7% | -45.6% |
| Market cap | $10.6B | $17.6B |
| P/E (trailing) | 59.4 | 24.2 |
| Dividend yield | 0.54% | 2.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGNX | MGA |
|---|---|---|
| 2022 | -39.1% | -28.6% |
| 2023 | -10.8% | +8.8% |
| 2024 | -13.4% | -26.3% |
| 2025 | +1.2% | +32.4% |
| 2026 | +75.8% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGNX and MGA good diversifiers for each other?
To a limited degree. At 0.57 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 CGNX and MGA?
The CGNX/MGA correlation stands at 0.57 on a 3-year window (1 year: 0.61, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is MGA a good diversifier for CGNX?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/cgnx-vs-mga.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgnx-vs-mga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGNX correlations · MGA correlations
