MGY vs PSX: Correlation
Magnolia Oil & Gas Corporation (MGY) and Phillips 66 (PSX) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGY and PSX?
Across a 3-year window, the weekly returns of MGY and PSX correlate at 0.66, strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.66 over 3. Stretching to 5 years gives 0.67, with an annualized covariance of 704.4 %².
Within MGY's tracked universe of 28 assets, PSX comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PSX ahead by 75.6 points (+10.6% versus +86.2%).
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 PSX: side by side
| MGY (Magnolia Oil & Gas Corporation) | PSX (Phillips 66) | |
|---|---|---|
| 1-year return | +10.6% | +86.2% |
| 5-year return | +92.1% | +301.8% |
| Volatility (ann.) | 32.0% | 33.4% |
| Beta vs S&P 500 | 0.40 | 0.58 |
| Max drawdown (3Y) | -31.5% | -44.4% |
| Market cap | $6.5B | $96.1B |
| P/E (trailing) | 11.5 | 13.8 |
| Dividend yield | 2.50% | 2.04% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | MGY | PSX |
|---|---|---|
| 2022 | +26.5% | +49.6% |
| 2023 | -7.3% | +33.1% |
| 2024 | +12.2% | -11.6% |
| 2025 | -3.8% | +17.5% |
| 2026 | +24.1% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGY and PSX good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MGY and PSX?
As of 2026-08-27, the correlation of weekly returns between MGY and PSX is 0.66 over 3 years, 0.65 over 1 year and 0.67 over 5 years.
Is PSX a good diversifier for MGY?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 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-psx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mgy-vs-psx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGY correlations · PSX correlations
