IDYA vs MGNX: Correlation
IDEAYA Biosciences, Inc. (IDYA) and MacroGenics, Inc. (MGNX) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDYA and MGNX?
On 3 years of weekly data the IDYA/MGNX correlation comes out at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.42 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 1840.5 %².
By 3-year correlation, MGNX places #17 of the 23 assets tracked against IDYA. The last year tells two different stories: MGNX led by 70.1 percentage points, +67.1% for IDYA against +137.2% for MGNX. Risk is not evenly split, since MGNX carries 2.1 times the volatility of the other side.
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.
IDYA vs MGNX: side by side
| IDYA (IDEAYA Biosciences, Inc.) | MGNX (MacroGenics, Inc.) | |
|---|---|---|
| 1-year return | +67.1% | +137.2% |
| 5-year return | +82.5% | -82.5% |
| Volatility (ann.) | 45.3% | 96.3% |
| Beta vs S&P 500 | 1.37 | 1.72 |
| Max drawdown (3Y) | -69.2% | -95.1% |
| Market cap | $4.0B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDYA | MGNX |
|---|---|---|
| 2022 | -23.1% | -58.2% |
| 2023 | +95.8% | +43.4% |
| 2024 | -27.8% | -66.2% |
| 2025 | +34.5% | -50.5% |
| 2026 | +20.8% | +153.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDYA and MGNX good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IDYA and MGNX?
The IDYA/MGNX correlation stands at 0.42 on a 3-year window (1 year: 0.24, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is MGNX a good diversifier for IDYA?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/idya-vs-mgnx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/idya-vs-mgnx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDYA correlations · MGNX correlations
