MGNI vs PUBM: Correlation
Magnite, Inc. (MGNI) and PubMatic, Inc. (PUBM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGNI and PUBM?
On 3 years of weekly data the MGNI/PUBM correlation comes out at 0.62, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 2435.6 %².
In MGNI's tracked universe of 19 assets, PUBM sits right near the top at #1. The last year tells two different stories: PUBM led by 100.3 percentage points, -8.6% for MGNI against +91.7% for PUBM.
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.
MGNI vs PUBM: side by side
| MGNI (Magnite, Inc.) | PUBM (PubMatic, Inc.) | |
|---|---|---|
| 1-year return | -8.6% | +91.7% |
| 5-year return | -17.8% | -40.5% |
| Volatility (ann.) | 63.6% | 61.6% |
| Beta vs S&P 500 | 1.94 | 1.56 |
| Max drawdown (3Y) | -57.8% | -73.9% |
| Market cap | $3.4B | $0.7B |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGNI | PUBM |
|---|---|---|
| 2022 | -39.5% | -62.4% |
| 2023 | -11.8% | +27.3% |
| 2024 | +70.4% | -9.9% |
| 2025 | +1.9% | -39.6% |
| 2026 | +43.9% | +84.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGNI and PUBM good diversifiers for each other?
To a limited degree. At 0.62 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 MGNI and PUBM?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.69 over the last year and 0.56 over 5 years.
Is PUBM a good diversifier for MGNI?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mgni-vs-pubm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mgni-vs-pubm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGNI correlations · PUBM correlations
