Magnite Correlations

MGNI Stock

USD 16.55 0.52 3.24%

The current 90-days correlation between Magnite and Deluxe is 0.49 (i.e., Very weak diversification). The correlation of Magnite is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Magnite Correlation With Market

Weak diversification

The correlation between Magnite and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magnite and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magnite. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more detail on how to invest in Magnite Stock please use our How to Invest in Magnite guide.

Moving together with Magnite Stock

0.69	CNK	Cinemark Holdings	Pair Corr
0.65	PSO	Pearson PLC ADR	Pair Corr
0.73	CHTR	Charter Communications	Pair Corr
0.61	Z	Zillow Group Class	Pair Corr
0.75	DJCO	Daily Journal Corp	Pair Corr
0.8	EA	Electronic Arts	Pair Corr
0.75	EB	Eventbrite Class A	Pair Corr
0.68	OB	Outbrain	Pair Corr
0.85	ZD	Ziff Davis	Pair Corr

Moving against Magnite Stock

0.56	TC	TuanChe ADR	Pair Corr
0.48	SY	So Young International	Pair Corr
0.45	DRCT	Direct Digital Holdings	Pair Corr
0.45	WIMI	WiMi Hologram Cloud	Pair Corr
0.45	TU	Telus Corp	Pair Corr
0.44	IQ	iQIYI Inc	Pair Corr
0.43	TV	Grupo Televisa SAB	Pair Corr
0.41	BZ	Kanzhun Ltd ADR	Pair Corr
0.38	VZ	Verizon Communications Aggressive Push	Pair Corr
0.63	BCE	BCE Inc	Pair Corr
0.53	WWRL	World Wireless Commu	Pair Corr
0.5	FENG	Phoenix New Media	Pair Corr
0.49	AMX	America Movil SAB	Pair Corr
0.37	DLPN	Dolphin Entertainment	Pair Corr
0.36	WB	Weibo Corp	Pair Corr
0.33	ZH	Zhihu Inc ADR Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DLX	ILLM	CCO	EVC	CTV	CRTO	ZD	QUOT	IPG	CMPR
DLX		0.45	0.2	0.66	0.18	-0.29	0.88	0.46	-0.56	0.02	DLX
ILLM	0.45		0.29	0.68	0.26	-0.64	0.42	0.43	-0.51	-0.53	ILLM
CCO	0.2	0.29		0.09	0.07	-0.16	0.43	-0.1	-0.11	-0.22	CCO
EVC	0.66	0.68	0.09		0.39	-0.74	0.59	0.84	-0.72	-0.55	EVC
CTV	0.18	0.26	0.07	0.39		-0.25	0.21	0.35	-0.09	-0.21	CTV
CRTO	-0.29	-0.64	-0.16	-0.74	-0.25		-0.34	-0.59	0.68	0.75	CRTO
ZD	0.88	0.42	0.43	0.59	0.21	-0.34		0.35	-0.57	-0.08	ZD
QUOT	0.46	0.43	-0.1	0.84	0.35	-0.59	0.35		-0.76	-0.58	QUOT
IPG	-0.56	-0.51	-0.11	-0.72	-0.09	0.68	-0.57	-0.76		0.61	IPG
CMPR	0.02	-0.53	-0.22	-0.55	-0.21	0.75	-0.08	-0.58	0.61		CMPR
	DLX	ILLM	CCO	EVC	CTV	CRTO	ZD	QUOT	IPG	CMPR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ZD	+ 0.88	DLX
QUOT	+ 0.84	EVC
CMPR	+ 0.75	CRTO
EVC	+ 0.68	ILLM
IPG	+ 0.68	CRTO
EVC	+ 0.66	DLX

High negative correlations

IPG	- 0.76	QUOT
CRTO	- 0.74	EVC
IPG	- 0.72	EVC
CRTO	- 0.64	ILLM
QUOT	- 0.59	CRTO
CMPR	- 0.58	QUOT

Risk-Adjusted Indicators

There is a big difference between Magnite Stock performing well and Magnite Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Magnite's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLX	1.70	0.08	0.09	0.14	1.68	(1.87)	3.65	(3.09)	12.68
ILLM	2.82	0.13	0.04	0.24	2.56	(3.95)	6.75	(4.19)	17.66
CCO	2.35	0.17	0.02	(0.84)	2.45	(3.04)	6.47	(4.14)	15.91
EVC	2.27	0.21	0.12	0.20	2.34	(3.11)	5.05	(4.41)	14.74
CTV	4.06	0.78	0.31	0.29	2.83	(5.44)	5.58	(6.01)	13.54
CRTO	1.91	(0.36)	0.00	(0.64)	0.00	0.00	3.92	(4.38)	26.95
ZD	1.84	0.18	0.12	0.19	2.03	(2.00)	3.26	(3.72)	19.49
QUOT	2.08	0.39	0.09	(1.07)	2.15	(2.89)	6.00	(3.42)	17.47
IPG	0.97	(0.20)	0.00	(0.12)	0.00	0.00	2.05	(1.60)	9.73
CMPR	2.10	(0.23)	0.00	(0.05)	0.00	0.00	3.77	(4.08)	16.61

Magnite Corporate Management

Lisa Troe	Independent Director	Profile
Sarah Harden	Independent Director	Profile
Nick Kormeluk	VP Estate	Profile
Doug Knopper	Independent Director	Profile
Robert Frankenberg	Lead Independent Director	Profile
Joseph Prusz	Chief Revenue Officer - DV+	Profile

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