MGNX vs TCRX: Correlation
How closely do MacroGenics, Inc. (MGNX) and TScan Therapeutics, Inc. (TCRX) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGNX and TCRX?
Across a 3-year window, the weekly returns of MGNX and TCRX correlate at 0.40, moderate. The past 12 months show a weaker link (0.20) than the 3-year average (0.40). Stretching to 5 years gives 0.24, with an annualized covariance of 3209.5 %².
By 3-year correlation, TCRX places #4 of the 14 assets tracked against MGNX. Correlation aside, the last 12 months split them widely, with MGNX ahead by 197.1 points (+137.2% versus -59.9%).
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.
MGNX vs TCRX: side by side
| MGNX (MacroGenics, Inc.) | TCRX (TScan Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +137.2% | -59.9% |
| 5-year return | -82.5% | -91.3% |
| Volatility (ann.) | 96.3% | 82.6% |
| Beta vs S&P 500 | 1.72 | 2.01 |
| Max drawdown (3Y) | -95.1% | -92.4% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGNX | TCRX |
|---|---|---|
| 2022 | -58.2% | -65.6% |
| 2023 | +43.4% | +276.1% |
| 2024 | -66.2% | -47.9% |
| 2025 | -50.5% | -67.1% |
| 2026 | +153.4% | -25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGNX and TCRX good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MGNX and TCRX?
The MGNX/TCRX correlation stands at 0.40 on a 3-year window (1 year: 0.20, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is TCRX a good diversifier for MGNX?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/mgnx-vs-tcrx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgnx-vs-tcrx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGNX correlations · TCRX correlations
