MGA vs RACE: Correlation
How closely do Magna International, Inc. (MGA) and Ferrari N.V. (RACE) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGA and RACE?
Across a 3-year window, the weekly returns of MGA and RACE correlate at 0.52, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.52). Stretching to 5 years gives 0.55, with an annualized covariance of 538.6 %².
Among the 18 assets we track against MGA, RACE ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MGA outperformed by 56.0 percentage points (+45.2% for MGA against -10.8% for RACE).
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.
MGA vs RACE: side by side
| MGA (Magna International, Inc.) | RACE (Ferrari N.V.) | |
|---|---|---|
| 1-year return | +45.2% | -10.8% |
| 5-year return | -1.8% | +98.0% |
| Volatility (ann.) | 31.5% | 32.9% |
| Beta vs S&P 500 | 0.87 | 0.99 |
| Max drawdown (3Y) | -45.6% | -39.2% |
| Market cap | $17.6B | $72.8B |
| P/E (trailing) | 24.2 | 38.2 |
| Dividend yield | 2.98% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGA | RACE |
|---|---|---|
| 2022 | -28.6% | -16.7% |
| 2023 | +8.8% | +59.1% |
| 2024 | -26.3% | +26.3% |
| 2025 | +32.4% | -12.3% |
| 2026 | +26.1% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGA and RACE good diversifiers for each other?
To a limited degree. At 0.52 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 MGA and RACE?
The MGA/RACE correlation stands at 0.52 on a 3-year window (1 year: 0.69, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is RACE a good diversifier for MGA?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MGA correlations · RACE correlations
