CIRC vs MGNX: Correlation
Measured on weekly returns over the past three years, Circle8 Group, Inc. (CIRC) and MacroGenics, Inc. (MGNX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIRC and MGNX?
Across a 3-year window, the weekly returns of CIRC and MGNX correlate at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.15 versus -0.27 over 3 years. Stretching to 5 years gives -0.20, with an annualized covariance of -5478.1 %².
Out of 14 assets tracked against CIRC, MGNX lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months MGNX outperformed by 220.7 percentage points (-83.5% for CIRC against +137.2% for MGNX). Note the risk asymmetry: CIRC runs 2.2 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.
CIRC vs MGNX: side by side
| CIRC (Circle8 Group, Inc.) | MGNX (MacroGenics, Inc.) | |
|---|---|---|
| 1-year return | -83.5% | +137.2% |
| 5-year return | -99.7% | -82.5% |
| Volatility (ann.) | 207.6% | 96.3% |
| Beta vs S&P 500 | -0.24 | 1.72 |
| Max drawdown (3Y) | -98.0% | -95.1% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIRC | MGNX |
|---|---|---|
| 2022 | -84.4% | -58.2% |
| 2023 | -64.5% | +43.4% |
| 2024 | +18.2% | -66.2% |
| 2025 | -72.7% | -50.5% |
| 2026 | -46.8% | +153.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIRC and MGNX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CIRC and MGNX?
As of 2026-08-27, the correlation of weekly returns between CIRC and MGNX is -0.27 over 3 years, 0.15 over 1 year and -0.20 over 5 years.
Is MGNX a good diversifier for CIRC?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/circ-vs-mgnx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/circ-vs-mgnx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIRC correlations · MGNX correlations
