MTG vs SPNT: Correlation
MGIC Investment Corporation (MTG) and SiriusPoint Ltd. (SPNT) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTG and SPNT?
Over the past 3 years, MTG and SPNT moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 301.7 %².
Among the 16 assets we track against MTG, SPNT ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPNT outperformed by 15.8 percentage points (+13.5% for MTG against +29.3% for SPNT).
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.
MTG vs SPNT: side by side
| MTG (MGIC Investment Corporation) | SPNT (SiriusPoint Ltd.) | |
|---|---|---|
| 1-year return | +13.5% | +29.3% |
| 5-year return | +129.5% | +141.9% |
| Volatility (ann.) | 21.6% | 27.4% |
| Beta vs S&P 500 | 0.57 | 0.37 |
| Max drawdown (3Y) | -15.8% | -16.3% |
| Market cap | $6.4B | $2.8B |
| P/E (trailing) | 9.8 | 5.9 |
| Dividend yield | 1.92% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTG | SPNT |
|---|---|---|
| 2022 | -7.5% | -27.4% |
| 2023 | +52.4% | +96.6% |
| 2024 | +25.7% | +41.3% |
| 2025 | +25.9% | +33.6% |
| 2026 | +8.2% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTG and SPNT good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MTG and SPNT?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.42 over the last year and 0.38 over 5 years.
Is SPNT a good diversifier for MTG?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 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/mtg-vs-spnt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtg-vs-spnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTG correlations · SPNT correlations
