MGY vs REPX: Correlation
Measured on weekly returns over the past three years, Magnolia Oil & Gas Corporation (MGY) and Riley Exploration Permian, Inc. (REPX) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGY and REPX?
On 3 years of weekly data the MGY/REPX correlation comes out at 0.75, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 1098.8 %².
Among the 28 assets we track against MGY, REPX ranks #10 by 3-year correlation. The last year tells two different stories: REPX led by 29.2 percentage points, +10.6% for MGY against +39.8% for REPX.
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 REPX: side by side
| MGY (Magnolia Oil & Gas Corporation) | REPX (Riley Exploration Permian, Inc.) | |
|---|---|---|
| 1-year return | +10.6% | +39.8% |
| 5-year return | +92.1% | +145.9% |
| Volatility (ann.) | 32.0% | 46.0% |
| Beta vs S&P 500 | 0.40 | 0.58 |
| Max drawdown (3Y) | -31.5% | -38.0% |
| Market cap | $6.5B | $0.8B |
| P/E (trailing) | 11.5 | 6.7 |
| Dividend yield | 2.50% | 4.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGY | REPX |
|---|---|---|
| 2022 | +26.5% | +60.2% |
| 2023 | -7.3% | -3.9% |
| 2024 | +12.2% | +23.8% |
| 2025 | -3.8% | -12.7% |
| 2026 | +24.1% | +50.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGY and REPX good diversifiers for each other?
Only partially. A correlation of 0.75 means MGY and REPX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MGY and REPX?
The MGY/REPX correlation stands at 0.75 on a 3-year window (1 year: 0.74, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is REPX a good diversifier for MGY?
Only partially. A correlation of 0.75 means MGY and REPX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mgy-vs-repx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgy-vs-repx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGY correlations · REPX correlations
