EG vs MX: Correlation
How closely do Everest Group (EG) and Magnachip Semiconductor Corporation (MX) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EG and MX?
On 3 years of weekly data the EG/MX correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.19 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -329.0 %².
Among the 30 assets we track against EG, MX ranks #24 by 3-year correlation. On 12-month performance EG holds a 9.1-point edge, +11.3% against +2.2%. One caveat on sizing: MX is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EG vs MX: side by side
| EG (Everest Group) | MX (Magnachip Semiconductor Corporation) | |
|---|---|---|
| 1-year return | +11.3% | +2.2% |
| 5-year return | +57.2% | -81.9% |
| Volatility (ann.) | 22.2% | 79.4% |
| Beta vs S&P 500 | 0.28 | 1.88 |
| Max drawdown (3Y) | -23.8% | -73.5% |
| Market cap | $14.5B | $0.1B |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 2.11% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | EG | MX |
|---|---|---|
| 2022 | +23.7% | -55.2% |
| 2023 | +8.7% | -20.1% |
| 2024 | +4.6% | -46.4% |
| 2025 | -5.3% | -36.6% |
| 2026 | +12.7% | +27.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EG and MX good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EG and MX?
The EG/MX correlation stands at -0.19 on a 3-year window (1 year: -0.45, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is MX a good diversifier for EG?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EG correlations · MX correlations
