MGY vs PR: Correlation
How closely do Magnolia Oil & Gas Corporation (MGY) and Permian Resources Corporation (PR) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGY and PR?
Across a 3-year window, the weekly returns of MGY and PR correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.83, with an annualized covariance of 930.7 %².
Among the 28 assets we track against MGY, PR ranks #6 by 3-year correlation. The last year tells two different stories: PR led by 59.7 percentage points, +10.6% for MGY against +70.3% for PR.
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 PR: side by side
| MGY (Magnolia Oil & Gas Corporation) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +10.6% | +70.3% |
| 5-year return | +92.1% | +430.6% |
| Volatility (ann.) | 32.0% | 35.4% |
| Beta vs S&P 500 | 0.40 | 0.39 |
| Max drawdown (3Y) | -31.5% | -39.9% |
| Market cap | $6.5B | $19.4B |
| P/E (trailing) | 11.5 | 14.7 |
| Dividend yield | 2.50% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGY | PR |
|---|---|---|
| 2022 | +26.5% | +57.9% |
| 2023 | -7.3% | +49.4% |
| 2024 | +12.2% | +10.7% |
| 2025 | -3.8% | +1.9% |
| 2026 | +24.1% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGY and PR good diversifiers for each other?
No: a correlation of 0.82 means MGY and PR tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MGY and PR?
The MGY/PR correlation stands at 0.82 on a 3-year window (1 year: 0.79, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is PR a good diversifier for MGY?
No: a correlation of 0.82 means MGY and PR tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
A reading of 0.82 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-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgy-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGY correlations · PR correlations
