MGY vs SD: Correlation
How closely do Magnolia Oil & Gas Corporation (MGY) and SandRidge Energy, Inc. (SD) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGY and SD?
Over the past 3 years, MGY and SD moved with a correlation of 0.74, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.63 versus 0.74 over 3 years. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 780.4 %².
By 3-year correlation, SD places #13 of the 28 assets tracked against MGY. The last year tells two different stories: SD led by 17.2 percentage points, +10.6% for MGY against +27.8% for SD.
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 SD: side by side
| MGY (Magnolia Oil & Gas Corporation) | SD (SandRidge Energy, Inc.) | |
|---|---|---|
| 1-year return | +10.6% | +27.8% |
| 5-year return | +92.1% | +126.2% |
| Volatility (ann.) | 32.0% | 33.0% |
| Beta vs S&P 500 | 0.40 | 0.32 |
| Max drawdown (3Y) | -31.5% | -37.9% |
| Market cap | $6.5B | $0.5B |
| P/E (trailing) | 11.5 | 6.3 |
| Dividend yield | 2.50% | 3.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGY | SD |
|---|---|---|
| 2022 | +26.5% | +62.8% |
| 2023 | -7.3% | -8.2% |
| 2024 | +12.2% | -1.2% |
| 2025 | -3.8% | +28.2% |
| 2026 | +24.1% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGY and SD good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MGY and SD?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.63 over the last year and 0.74 over 5 years.
Is SD a good diversifier for MGY?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 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-sd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mgy-vs-sd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGY correlations · SD correlations
