MGNX vs VYGR: Correlation
MacroGenics, Inc. (MGNX) and Voyager Therapeutics, Inc. (VYGR) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGNX and VYGR?
On 3 years of weekly data the MGNX/VYGR correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.42). The 5-year figure is 0.23, and annualized covariance runs at 2433.3 %².
VYGR is one of the assets that tracks MGNX most closely: it ranks #3 out of the 14 assets we track against MGNX. Correlation aside, the last 12 months split them widely, with MGNX ahead by 136.0 points (+137.2% versus +1.2%). Risk is not evenly split, since MGNX carries 1.6 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.
MGNX vs VYGR: side by side
| MGNX (MacroGenics, Inc.) | VYGR (Voyager Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +137.2% | +1.2% |
| 5-year return | -82.5% | +7.5% |
| Volatility (ann.) | 96.3% | 60.2% |
| Beta vs S&P 500 | 1.72 | 1.35 |
| Max drawdown (3Y) | -95.1% | -74.8% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGNX | VYGR |
|---|---|---|
| 2022 | -58.2% | +125.1% |
| 2023 | +43.4% | +38.4% |
| 2024 | -66.2% | -32.8% |
| 2025 | -50.5% | -30.7% |
| 2026 | +153.4% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGNX and VYGR good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MGNX and VYGR?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.22 over the last year and 0.23 over 5 years.
Is VYGR a good diversifier for MGNX?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/mgnx-vs-vygr.json
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Related comparisons
Hubs: MGNX correlations · VYGR correlations
