FLYW vs MGNI: Correlation
Measured on weekly returns over the past three years, Flywire Corporation - Voting (FLYW) and Magnite, Inc. (MGNI) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYW and MGNI?
Across a 3-year window, the weekly returns of FLYW and MGNI correlate at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 1674.8 %².
By 3-year correlation, MGNI places #5 of the 12 assets tracked against FLYW. The last year tells two different stories: FLYW led by 51.7 percentage points, +43.1% for FLYW against -8.6% for MGNI.
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.
FLYW vs MGNI: side by side
| FLYW (Flywire Corporation - Voting) | MGNI (Magnite, Inc.) | |
|---|---|---|
| 1-year return | +43.1% | -8.6% |
| 5-year return | -57.5% | -17.8% |
| Volatility (ann.) | 54.1% | 63.6% |
| Beta vs S&P 500 | 1.13 | 1.94 |
| Max drawdown (3Y) | -75.7% | -57.8% |
| Market cap | $2.3B | $3.4B |
| P/E (trailing) | 69.3 | 21.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLYW | MGNI |
|---|---|---|
| 2022 | -35.7% | -39.5% |
| 2023 | -5.4% | -11.8% |
| 2024 | -10.9% | +70.4% |
| 2025 | -31.3% | +1.9% |
| 2026 | +32.1% | +43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYW and MGNI good diversifiers for each other?
Reasonably. At 0.49, FLYW and MGNI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLYW and MGNI?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.55 over the last year and 0.48 over 5 years.
Is MGNI a good diversifier for FLYW?
Reasonably. At 0.49, FLYW and MGNI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/flyw-vs-mgni.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flyw-vs-mgni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLYW correlations · MGNI correlations
