CRDF vs MGX: Correlation
Measured on weekly returns over the past three years, Cardiff Oncology, Inc. (CRDF) and Metagenomi Therapeutics, Inc. (MGX) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDF and MGX?
Over the past 3 years, CRDF and MGX moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.44 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 3976.3 %².
MGX is one of the assets that tracks CRDF most closely: it ranks #2 out of the 13 assets we track against CRDF. Their recent paths diverged sharply: over the last 12 months MGX outperformed by 19.7 percentage points (-54.6% for CRDF against -34.9% for MGX).
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.
CRDF vs MGX: side by side
| CRDF (Cardiff Oncology, Inc.) | MGX (Metagenomi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -54.6% | -34.9% |
| 5-year return | -86.7% | n/a |
| Volatility (ann.) | 100.0% | 86.5% |
| Beta vs S&P 500 | 1.60 | 1.23 |
| Max drawdown (3Y) | -86.3% | -90.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDF | MGX |
|---|---|---|
| 2022 | -76.7% | – |
| 2023 | +5.7% | – |
| 2024 | +193.2% | – |
| 2025 | -35.3% | -55.1% |
| 2026 | -64.9% | -25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDF and MGX good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CRDF and MGX?
The CRDF/MGX correlation stands at 0.44 on a 3-year window (1 year: 0.34, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MGX a good diversifier for CRDF?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/crdf-vs-mgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crdf-vs-mgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRDF correlations · MGX correlations
