MAGN vs WMS: Correlation
Measured on weekly returns over the past three years, Magnera Corporation (MAGN) and Advanced Drainage Systems, Inc. (WMS) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAGN and WMS?
Across a 3-year window, the weekly returns of MAGN and WMS correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.31, with an annualized covariance of 1155.3 %².
Within MAGN's tracked universe of 11 assets, WMS comes in at #4 by 3-year correlation. Neither side won the trailing year by much: -1.0% against -4.4%. One caveat on sizing: MAGN is 1.9 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.
MAGN vs WMS: side by side
| MAGN (Magnera Corporation) | WMS (Advanced Drainage Systems, Inc.) | |
|---|---|---|
| 1-year return | -1.0% | -4.4% |
| 5-year return | -93.7% | +22.1% |
| Volatility (ann.) | 71.5% | 37.1% |
| Beta vs S&P 500 | 1.31 | 1.31 |
| Max drawdown (3Y) | -76.8% | -45.8% |
| Market cap | $0.4B | $10.5B |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.00% | 0.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAGN | WMS |
|---|---|---|
| 2022 | -83.3% | -39.5% |
| 2023 | -30.2% | +72.4% |
| 2024 | -28.0% | -17.5% |
| 2025 | -16.7% | +26.0% |
| 2026 | -18.6% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAGN and WMS good diversifiers for each other?
Reasonably. At 0.44, MAGN and WMS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MAGN and WMS?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.43 over the last year and 0.31 over 5 years.
Is WMS a good diversifier for MAGN?
Reasonably. At 0.44, MAGN and WMS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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-wms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/magn-vs-wms/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MAGN correlations · WMS correlations
