GNTX vs MGA: Correlation
How closely do Gentex Corporation (GNTX) and Magna International, Inc. (MGA) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNTX and MGA?
Over the past 3 years, GNTX and MGA moved with a correlation of 0.56, which is moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 436.9 %².
In GNTX's tracked universe of 12 assets, MGA sits right near the top at #3. The last year tells two different stories: MGA led by 62.4 percentage points, -17.2% for GNTX against +45.2% for MGA.
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.
GNTX vs MGA: side by side
| GNTX (Gentex Corporation) | MGA (Magna International, Inc.) | |
|---|---|---|
| 1-year return | -17.2% | +45.2% |
| 5-year return | -18.8% | -1.8% |
| Volatility (ann.) | 24.9% | 31.5% |
| Beta vs S&P 500 | 0.61 | 0.87 |
| Max drawdown (3Y) | -43.0% | -45.6% |
| Market cap | $4.9B | $17.6B |
| P/E (trailing) | 12.2 | 24.2 |
| Dividend yield | 2.01% | 2.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNTX | MGA |
|---|---|---|
| 2022 | -20.4% | -28.6% |
| 2023 | +21.8% | +8.8% |
| 2024 | -10.7% | -26.3% |
| 2025 | -17.4% | +32.4% |
| 2026 | +0.7% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNTX and MGA good diversifiers for each other?
Only partially. A correlation of 0.56 means GNTX and MGA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GNTX and MGA?
As of 2026-08-27, the correlation of weekly returns between GNTX and MGA is 0.56 over 3 years, 0.55 over 1 year and 0.66 over 5 years.
Is MGA a good diversifier for GNTX?
Only partially. A correlation of 0.56 means GNTX and MGA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gntx-vs-mga.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gntx-vs-mga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GNTX correlations · MGA correlations
