MGY vs SYPR: Correlation
Magnolia Oil & Gas Corporation (MGY) and Sypris Solutions, Inc. (SYPR) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGY and SYPR?
On 3 years of weekly data the MGY/SYPR correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.22 over 3 years. The 5-year figure is -0.05, and annualized covariance runs at -407.4 %².
Out of 28 assets tracked against MGY, SYPR lands near the bottom at #26. Their recent paths diverged sharply: over the last 12 months MGY outperformed by 25.1 percentage points (+10.6% for MGY against -14.5% for SYPR). Risk is not evenly split, since SYPR carries 1.8 times the volatility of the other side.
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 SYPR: side by side
| MGY (Magnolia Oil & Gas Corporation) | SYPR (Sypris Solutions, Inc.) | |
|---|---|---|
| 1-year return | +10.6% | -14.5% |
| 5-year return | +92.1% | -55.9% |
| Volatility (ann.) | 32.0% | 59.0% |
| Beta vs S&P 500 | 0.40 | 0.58 |
| Max drawdown (3Y) | -31.5% | -59.1% |
| Market cap | $6.5B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 2.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGY | SYPR |
|---|---|---|
| 2022 | +26.5% | -16.7% |
| 2023 | -7.3% | -1.0% |
| 2024 | +12.2% | -12.3% |
| 2025 | -3.8% | +37.1% |
| 2026 | +24.1% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGY and SYPR good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGY and SYPR?
The MGY/SYPR correlation stands at -0.22 on a 3-year window (1 year: -0.33, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is SYPR a good diversifier for MGY?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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-sypr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mgy-vs-sypr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGY correlations · SYPR correlations
