HIG vs MGX: Correlation
How closely do Hartford (The) (HIG) and Metagenomi Therapeutics, Inc. (MGX) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIG and MGX?
Over the past 3 years, HIG and MGX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -417.7 %².
Out of 49 assets tracked against HIG, MGX lands near the bottom at #45. Their recent paths diverged sharply: over the last 12 months HIG outperformed by 40.3 percentage points (+5.4% for HIG against -34.9% for MGX). Note the risk asymmetry: MGX runs 4.4 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.
HIG vs MGX: side by side
| HIG (Hartford (The)) | MGX (Metagenomi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +5.4% | -34.9% |
| 5-year return | +127.4% | n/a |
| Volatility (ann.) | 19.5% | 86.5% |
| Beta vs S&P 500 | 0.39 | 1.23 |
| Max drawdown (3Y) | -13.7% | -90.7% |
| Market cap | $37.3B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 1.66% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HIG | MGX |
|---|---|---|
| 2022 | +12.3% | – |
| 2023 | +8.5% | – |
| 2024 | +38.5% | – |
| 2025 | +28.1% | -55.1% |
| 2026 | +0.9% | -25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIG and MGX good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between HIG and MGX?
The HIG/MGX correlation stands at -0.24 on a 3-year window (1 year: -0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MGX a good diversifier for HIG?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/hig-vs-mgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hig-vs-mgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIG correlations · MGX correlations
