HOOD vs MGNI: Correlation
Measured on weekly returns over the past three years, Robinhood Markets (HOOD) and Magnite, Inc. (MGNI) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and MGNI?
Across a 3-year window, the weekly returns of HOOD and MGNI correlate at 0.53, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.53). Stretching to 5 years gives 0.41, with an annualized covariance of 2408.7 %².
Within HOOD's tracked universe of 39 assets, MGNI comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HOOD outperformed by 15.2 percentage points (+6.6% for HOOD 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.
HOOD vs MGNI: side by side
| HOOD (Robinhood Markets) | MGNI (Magnite, Inc.) | |
|---|---|---|
| 1-year return | +6.6% | -8.6% |
| 5-year return | +151.5% | -17.8% |
| Volatility (ann.) | 71.4% | 63.6% |
| Beta vs S&P 500 | 2.88 | 1.94 |
| Max drawdown (3Y) | -57.3% | -57.8% |
| Market cap | $98.7B | $3.4B |
| P/E (trailing) | 48.1 | 21.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HOOD | MGNI |
|---|---|---|
| 2022 | -54.2% | -39.5% |
| 2023 | +56.5% | -11.8% |
| 2024 | +192.5% | +70.4% |
| 2025 | +203.5% | +1.9% |
| 2026 | -3.0% | +43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOOD and MGNI good diversifiers for each other?
To a limited degree. At 0.53 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 HOOD and MGNI?
As of 2026-08-27, the correlation of weekly returns between HOOD and MGNI is 0.53 over 3 years, 0.41 over 1 year and 0.41 over 5 years.
Is MGNI a good diversifier for HOOD?
To a limited degree. At 0.53 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 0.53 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/hood-vs-mgni.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hood-vs-mgni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOOD correlations · MGNI correlations
