MX vs SPCE: Correlation
Measured on weekly returns over the past three years, Magnachip Semiconductor Corporation (MX) and Virgin Galactic Holdings, Inc. (SPCE) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MX and SPCE?
Over the past 3 years, MX and SPCE moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 4000.9 %².
Among the 16 assets we track against MX, SPCE ranks #6 by 3-year correlation. Over the last 12 months MX came out ahead by 5.1 percentage points (+2.2% against -2.9%).
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.
MX vs SPCE: side by side
| MX (Magnachip Semiconductor Corporation) | SPCE (Virgin Galactic Holdings, Inc.) | |
|---|---|---|
| 1-year return | +2.2% | -2.9% |
| 5-year return | -81.9% | -99.4% |
| Volatility (ann.) | 79.4% | 100.5% |
| Beta vs S&P 500 | 1.88 | 2.82 |
| Max drawdown (3Y) | -73.5% | -96.0% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MX | SPCE |
|---|---|---|
| 2022 | -55.2% | -74.0% |
| 2023 | -20.1% | -29.6% |
| 2024 | -46.4% | -88.0% |
| 2025 | -36.6% | -45.4% |
| 2026 | +27.1% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MX and SPCE good diversifiers for each other?
Only partially. A correlation of 0.50 means MX and SPCE 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 MX and SPCE?
As of 2026-08-27, the correlation of weekly returns between MX and SPCE is 0.50 over 3 years, 0.58 over 1 year and 0.44 over 5 years.
Is SPCE a good diversifier for MX?
Only partially. A correlation of 0.50 means MX and SPCE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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/mx-vs-spce.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mx-vs-spce/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MX correlations · SPCE correlations
