MAGN vs PACS: Correlation
Magnera Corporation (MAGN) and PACS Group, Inc. (PACS) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAGN and PACS?
Across a 3-year window, the weekly returns of MAGN and PACS correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 3339.6 %².
PACS is one of the assets that tracks MAGN most closely: it ranks #2 out of the 11 assets we track against MAGN. The last year tells two different stories: PACS led by 274.0 percentage points, -1.0% for MAGN against +273.0% for PACS. Risk is not evenly split, since PACS carries 1.7 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.
MAGN vs PACS: side by side
| MAGN (Magnera Corporation) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | -1.0% | +273.0% |
| 5-year return | -93.7% | n/a |
| Volatility (ann.) | 71.5% | 120.5% |
| Beta vs S&P 500 | 1.31 | 0.06 |
| Max drawdown (3Y) | -76.8% | -82.0% |
| Market cap | $0.4B | $7.0B |
| P/E (trailing) | – | 25.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAGN | PACS |
|---|---|---|
| 2022 | -83.3% | – |
| 2023 | -30.2% | – |
| 2024 | -28.0% | – |
| 2025 | -16.7% | +192.8% |
| 2026 | -18.6% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAGN and PACS good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MAGN and PACS?
The MAGN/PACS correlation stands at 0.51 on a 3-year window (1 year: 0.60, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PACS a good diversifier for MAGN?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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/magn-vs-pacs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/magn-vs-pacs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MAGN correlations · PACS correlations
