Magnite Correlations

MGNI Stock

USD 11.29 0.01 0.09%

The current 90-days correlation between Magnite and Weibo Corp is 0.2 (i.e., Modest 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

Significant diversification

The correlation between Magnite and DJI is 0.08 (i.e., Significant 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.

Build AI portfolio with Magnite Stock

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 state.

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

Moving together with Magnite Stock

0.61	WPP	WPP PLC ADR	Pair Corr
0.71	OML	OohMedia	Pair Corr

Moving against Magnite Stock

0.38	VSME	VS Media Holdings	Pair Corr
0.45	NFG	National Fuel Gas	Pair Corr
0.42	TFLM	TFLM	Pair Corr
0.4	RCKY	Rocky Brands	Pair Corr

Related Correlations Analysis

	WB	IAS	CMPR	IAC	SPHR	MSGE	BATRA	GENI	IHS
WB		-0.08	0.41	0.4	0.36	0.45	0.1	0.19	0.38	WB
IAS	-0.08		0.21	0.31	0.45	0.36	0.05	-0.2	0.29	IAS
CMPR	0.41	0.21		0.62	0.71	0.84	0.51	-0.28	0.77	CMPR
IAC	0.4	0.31	0.62		0.9	0.71	0.23	0.29	0.67	IAC
SPHR	0.36	0.45	0.71	0.9		0.9	0.34	-0.07	0.81	SPHR
MSGE	0.45	0.36	0.84	0.71	0.9		0.45	-0.33	0.9	MSGE
BATRA	0.1	0.05	0.51	0.23	0.34	0.45		-0.26	0.55	BATRA
GENI	0.19	-0.2	-0.28	0.29	-0.07	-0.33	-0.26		-0.23	GENI
IHS	0.38	0.29	0.77	0.67	0.81	0.9	0.55	-0.23		IHS
	WB	IAS	CMPR	IAC	SPHR	MSGE	BATRA	GENI	IHS

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

SPHR	+ 0.9	IAC
MSGE	+ 0.9	SPHR
IHS	+ 0.9	MSGE
MSGE	+ 0.84	CMPR
IHS	+ 0.81	SPHR
IHS	+ 0.77	CMPR

High negative correlations

GENI	- 0.33	MSGE
GENI	- 0.28	CMPR
GENI	- 0.26	BATRA
IHS	- 0.23	GENI
GENI	- 0.2	IAS
IAS	- 0.08	WB

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
WB	1.32	(0.15)	0.00	(0.10)	0.00	0.00	3.13	(2.35)	9.22
IAS	0.63	0.35	1.00	(1.07)	0.00	(0.99)	0.39	(0.29)	21.04
CMPR	2.11	0.09	0.05	0.16	2.04	(2.51)	5.27	(3.55)	11.53
IAC	1.32	0.06	0.04	0.14	1.50	(1.36)	2.49	(2.20)	6.76
SPHR	2.04	0.45	0.26	0.50	1.45	(2.68)	5.43	(2.93)	9.49
MSGE	1.55	0.44	0.24	0.78	1.28	(1.71)	3.87	(2.58)	9.61
BATRA	0.65	0.02	(0.07)	(0.18)	0.89	(0.64)	1.08	(1.56)	3.94
GENI	2.58	(0.72)	0.00	0.78	0.00	0.00	4.45	(5.95)	18.19
IHS	2.10	0.26	0.11	0.28	2.38	(2.34)	4.98	(4.79)	14.12

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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