JL vs MGX: Correlation
How closely do J-Long Group Limited - Class A (JL) and Metagenomi Therapeutics, Inc. (MGX) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and MGX?
Over the past 3 years, JL and MGX moved with a correlation of 0.57, which is moderate. The past 12 months show a weaker link (0.09) than the 3-year average (0.57). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 28610.0 %².
In JL's tracked universe of 58 assets, MGX sits right near the top at #3. The last year tells two different stories: JL led by 18.5 percentage points, -16.4% for JL against -34.9% for MGX. One caveat on sizing: JL is 6.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
JL vs MGX: side by side
| JL (J-Long Group Limited - Class A) | MGX (Metagenomi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -16.4% | -34.9% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 580.0% | 86.5% |
| Beta vs S&P 500 | -1.02 | 1.23 |
| Max drawdown (3Y) | -98.6% | -90.7% |
| Market cap | – | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Are JL and MGX good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JL and MGX?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.09 over the last year and n/a over 5 years.
Is MGX a good diversifier for JL?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jl-vs-mgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jl-vs-mgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JL correlations · MGX correlations
