LAES vs MGX: Correlation
How closely do SEALSQ Corp (LAES) and Metagenomi Therapeutics, Inc. (MGX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAES and MGX?
Across a 3-year window, the weekly returns of LAES and MGX correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 12909.6 %².
Within LAES's tracked universe of 26 assets, MGX comes in at #4 by 3-year correlation. The last year tells two different stories: LAES led by 30.5 percentage points, -4.4% for LAES against -34.9% for MGX. Note the risk asymmetry: LAES runs 3.0 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.
LAES vs MGX: side by side
| LAES (SEALSQ Corp) | MGX (Metagenomi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -4.4% | -34.9% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 261.5% | 86.5% |
| Beta vs S&P 500 | 1.57 | 1.23 |
| Max drawdown (3Y) | -94.5% | -90.7% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAES | MGX |
|---|---|---|
| 2024 | +380.5% | – |
| 2025 | -38.5% | -55.1% |
| 2026 | -31.0% | -25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAES and MGX good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LAES and MGX?
As of 2026-08-27, the correlation of weekly returns between LAES and MGX is 0.54 over 3 years, 0.55 over 1 year and n/a over 5 years.
Is MGX a good diversifier for LAES?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/laes-vs-mgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/laes-vs-mgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LAES correlations · MGX correlations
