LEA vs MGA: Correlation
How closely do Lear Corporation (LEA) and Magna International, Inc. (MGA) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEA and MGA?
Across a 3-year window, the weekly returns of LEA and MGA correlate at 0.59, moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.59). Stretching to 5 years gives 0.70, with an annualized covariance of 538.0 %².
Within LEA's tracked universe of 17 assets, MGA comes in at #6 by 3-year correlation. The last year tells two different stories: MGA led by 30.0 percentage points, +15.2% for LEA against +45.2% for MGA.
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.
LEA vs MGA: side by side
| LEA (Lear Corporation) | MGA (Magna International, Inc.) | |
|---|---|---|
| 1-year return | +15.2% | +45.2% |
| 5-year return | -13.4% | -1.8% |
| Volatility (ann.) | 28.8% | 31.5% |
| Beta vs S&P 500 | 0.61 | 0.87 |
| Max drawdown (3Y) | -47.0% | -45.6% |
| Market cap | $8.2B | $17.6B |
| P/E (trailing) | 11.6 | 24.2 |
| Dividend yield | 2.48% | 2.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEA | MGA |
|---|---|---|
| 2022 | -30.7% | -28.6% |
| 2023 | +16.4% | +8.8% |
| 2024 | -31.2% | -26.3% |
| 2025 | +24.9% | +32.4% |
| 2026 | +9.1% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEA and MGA good diversifiers for each other?
To a limited degree. At 0.59 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 LEA and MGA?
As of 2026-08-27, the correlation of weekly returns between LEA and MGA is 0.59 over 3 years, 0.42 over 1 year and 0.70 over 5 years.
Is MGA a good diversifier for LEA?
To a limited degree. At 0.59 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 0.59 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/lea-vs-mga.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lea-vs-mga/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LEA correlations · MGA correlations
