FHTX vs MAGN: Correlation
Foghorn Therapeutics Inc. (FHTX) and Magnera Corporation (MAGN) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHTX and MAGN?
Over the past 3 years, FHTX and MAGN moved with a correlation of 0.47, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.47 over 3 years. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 3479.0 %².
By 3-year correlation, MAGN places #4 of the 12 assets tracked against FHTX. The last year tells two different stories: FHTX led by 16.0 percentage points, +15.0% for FHTX against -1.0% for MAGN.
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.
FHTX vs MAGN: side by side
| FHTX (Foghorn Therapeutics Inc.) | MAGN (Magnera Corporation) | |
|---|---|---|
| 1-year return | +15.0% | -1.0% |
| 5-year return | -49.1% | -93.7% |
| Volatility (ann.) | 103.7% | 71.5% |
| Beta vs S&P 500 | 2.17 | 1.31 |
| Max drawdown (3Y) | -68.5% | -76.8% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FHTX | MAGN |
|---|---|---|
| 2022 | -72.1% | -83.3% |
| 2023 | +1.1% | -30.2% |
| 2024 | -26.8% | -28.0% |
| 2025 | +14.4% | -16.7% |
| 2026 | +15.2% | -18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHTX and MAGN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FHTX and MAGN?
The FHTX/MAGN correlation stands at 0.47 on a 3-year window (1 year: 0.14, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is MAGN a good diversifier for FHTX?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fhtx-vs-magn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fhtx-vs-magn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FHTX correlations · MAGN correlations
