KVUE vs MGNX: Correlation
How closely do Kenvue (KVUE) and MacroGenics, Inc. (MGNX) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KVUE and MGNX?
Across a 3-year window, the weekly returns of KVUE and MGNX correlate at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -691.1 %².
Among the 34 assets we track against KVUE, MGNX sits near the bottom by co-movement, at rank #34. Correlation aside, the last 12 months split them widely, with MGNX ahead by 140.2 points (-3.0% versus +137.2%). Note the risk asymmetry: MGNX runs 3.5 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.
KVUE vs MGNX: side by side
| KVUE (Kenvue) | MGNX (MacroGenics, Inc.) | |
|---|---|---|
| 1-year return | -3.0% | +137.2% |
| 5-year return | n/a | -82.5% |
| Volatility (ann.) | 27.3% | 96.3% |
| Beta vs S&P 500 | 0.16 | 1.72 |
| Max drawdown (3Y) | -41.2% | -95.1% |
| Market cap | $36.9B | $0.3B |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 4.32% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | KVUE | MGNX |
|---|---|---|
| 2022 | – | -58.2% |
| 2023 | – | +43.4% |
| 2024 | +3.1% | -66.2% |
| 2025 | -15.9% | -50.5% |
| 2026 | +15.2% | +153.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KVUE and MGNX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between KVUE and MGNX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.30 over the last year and n/a over 5 years.
Is MGNX a good diversifier for KVUE?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
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Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kvue-vs-mgnx/)
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Related comparisons
Hubs: KVUE correlations · MGNX correlations
