FSLY vs MGA: Correlation
Fastly, Inc. (FSLY) and Magna International, Inc. (MGA) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSLY and MGA?
Across a 3-year window, the weekly returns of FSLY and MGA correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 1636.6 %².
In FSLY's tracked universe of 11 assets, MGA sits right near the top at #1. The last year tells two different stories: FSLY led by 183.8 percentage points, +229.0% for FSLY against +45.2% for MGA. Note the risk asymmetry: FSLY runs 3.2 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.
FSLY vs MGA: side by side
| FSLY (Fastly, Inc.) | MGA (Magna International, Inc.) | |
|---|---|---|
| 1-year return | +229.0% | +45.2% |
| 5-year return | -43.5% | -1.8% |
| Volatility (ann.) | 101.8% | 31.5% |
| Beta vs S&P 500 | 1.26 | 0.87 |
| Max drawdown (3Y) | -80.0% | -45.6% |
| Market cap | $3.9B | $17.6B |
| P/E (trailing) | – | 24.2 |
| Dividend yield | 0.00% | 2.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSLY | MGA |
|---|---|---|
| 2022 | -76.9% | -28.6% |
| 2023 | +117.3% | +8.8% |
| 2024 | -47.0% | -26.3% |
| 2025 | +7.8% | +32.4% |
| 2026 | +142.0% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSLY and MGA good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FSLY and MGA?
The FSLY/MGA correlation stands at 0.51 on a 3-year window (1 year: 0.52, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is MGA a good diversifier for FSLY?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 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/fsly-vs-mga.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fsly-vs-mga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSLY correlations · MGA correlations
