MGNI vs RMT: Correlation
Measured on weekly returns over the past three years, Magnite, Inc. (MGNI) and Royce Micro-Cap Trust, Inc. (RMT) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGNI and RMT?
Across a 3-year window, the weekly returns of MGNI and RMT correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 666.2 %².
Among the 19 assets we track against MGNI, RMT ranks #5 by 3-year correlation. The last year tells two different stories: RMT led by 57.0 percentage points, -8.6% for MGNI against +48.4% for RMT. Risk is not evenly split, since MGNI carries 3.1 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.
MGNI vs RMT: side by side
| MGNI (Magnite, Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -8.6% | +48.4% |
| 5-year return | -17.8% | +80.1% |
| Volatility (ann.) | 63.6% | 20.5% |
| Beta vs S&P 500 | 1.94 | 1.09 |
| Max drawdown (3Y) | -57.8% | -26.4% |
| Market cap | $3.4B | $0.8B |
| P/E (trailing) | 21.2 | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGNI | RMT |
|---|---|---|
| 2022 | -39.5% | -16.8% |
| 2023 | -11.8% | +15.8% |
| 2024 | +70.4% | +14.0% |
| 2025 | +1.9% | +16.1% |
| 2026 | +43.9% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGNI and RMT good diversifiers for each other?
Only partially. A correlation of 0.51 means MGNI and RMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MGNI and RMT?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.45 over the last year and 0.48 over 5 years.
Is RMT a good diversifier for MGNI?
Only partially. A correlation of 0.51 means MGNI and RMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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/mgni-vs-rmt.json
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Related comparisons
Hubs: MGNI correlations · RMT correlations
