MGY vs MTDR: Correlation
Magnolia Oil & Gas Corporation (MGY) and Matador Resources Company (MTDR) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGY and MTDR?
Across a 3-year window, the weekly returns of MGY and MTDR correlate at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.83 over 3. Stretching to 5 years gives 0.86, with an annualized covariance of 1068.9 %².
Among the 28 assets we track against MGY, MTDR ranks #4 by 3-year correlation. The trailing year gives MTDR the advantage: +10.6% versus +17.4%, a 6.8-point spread.
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.
MGY vs MTDR: side by side
| MGY (Magnolia Oil & Gas Corporation) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | +10.6% | +17.4% |
| 5-year return | +92.1% | +115.7% |
| Volatility (ann.) | 32.0% | 40.3% |
| Beta vs S&P 500 | 0.40 | 0.49 |
| Max drawdown (3Y) | -31.5% | -46.8% |
| Market cap | $6.5B | $7.0B |
| P/E (trailing) | 11.5 | 9.7 |
| Dividend yield | 2.50% | 2.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGY | MTDR |
|---|---|---|
| 2022 | +26.5% | +55.8% |
| 2023 | -7.3% | +0.6% |
| 2024 | +12.2% | +0.4% |
| 2025 | -3.8% | -22.3% |
| 2026 | +24.1% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGY and MTDR good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MGY and MTDR?
As of 2026-08-27, the correlation of weekly returns between MGY and MTDR is 0.83 over 3 years, 0.80 over 1 year and 0.86 over 5 years.
Is MTDR a good diversifier for MGY?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
A reading of 0.83 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/mgy-vs-mtdr.json
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[](https://www.pairbook.io/pair/mgy-vs-mtdr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGY correlations · MTDR correlations
