Magnite Correlations

MGNI Stock

USD 17.36 0.33 1.87%

The current 90-days correlation between Magnite and Entravision Communications is -0.14 (i.e., Good 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

Average diversification

The correlation between Magnite and DJI is 0.15 (i.e., Average 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

0.78	SE	Sea	Pair Corr
0.78	BATRA	Atlanta Braves Holdings,	Pair Corr
0.66	FOX	Fox Corp Class	Pair Corr
0.78	LYV	Live Nation Entertainment	Pair Corr
0.87	NWS	News Corp B	Pair Corr
0.64	PSO	Pearson PLC ADR Earnings Call Tomorrow	Pair Corr
0.66	SWAGW	Software Acquisition	Pair Corr
0.74	FWONA	Liberty Media Earnings Call Today	Pair Corr
0.65	FWONK	Liberty Media Earnings Call Today	Pair Corr

Moving against Magnite Stock

0.63	EVC	Entravision Communications Earnings Call This Week	Pair Corr
0.45	WLYB	John Wiley Sons Earnings Call This Week	Pair Corr
0.36	GCI	Gannett	Pair Corr
0.34	AMC	AMC Entertainment Earnings Call Today	Pair Corr
0.49	LEE	Lee Enterprises	Pair Corr
0.44	NYT	New York Times	Pair Corr
0.43	WLY	John Wiley Sons Earnings Call This Week	Pair Corr
0.49	MSGS	Madison Square Garden	Pair Corr
0.37	ABTS	Abits Group	Pair Corr
0.35	CMCSA	Comcast Corp	Pair Corr

Related Correlations Analysis

	DLX	ILLM	CCO	EVC	CTV	CRTO	ZD	QUOT	IPG	CMPR
DLX		0.0	0.57	0.54	-0.35	-0.4	0.77	0.0	0.67	0.91	DLX
ILLM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ILLM
CCO	0.57	0.0		0.46	-0.68	-0.14	0.73	0.0	0.56	0.73	CCO
EVC	0.54	0.0	0.46		-0.17	-0.22	0.49	0.0	0.41	0.68	EVC
CTV	-0.35	0.0	-0.68	-0.17		0.14	-0.5	0.0	-0.44	-0.48	CTV
CRTO	-0.4	0.0	-0.14	-0.22	0.14		0.09	0.0	0.07	-0.34	CRTO
ZD	0.77	0.0	0.73	0.49	-0.5	0.09		0.0	0.77	0.84	ZD
QUOT	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	QUOT
IPG	0.67	0.0	0.56	0.41	-0.44	0.07	0.77	0.0		0.72	IPG
CMPR	0.91	0.0	0.73	0.68	-0.48	-0.34	0.84	0.0	0.72		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

CMPR	+ 0.91	DLX
CMPR	+ 0.84	ZD
ZD	+ 0.77	DLX
IPG	+ 0.77	ZD
ZD	+ 0.73	CCO
CMPR	+ 0.73	CCO

High negative correlations

CTV	- 0.68	CCO
ZD	- 0.5	CTV
CMPR	- 0.48	CTV
IPG	- 0.44	CTV
CRTO	- 0.4	DLX
CTV	- 0.35	DLX

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	1.59	(0.47)	0.00	(0.42)	0.00	0.00	2.35	(3.56)	14.33
ILLM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCO	1.76	(0.22)	0.00	(0.21)	0.00	0.00	3.97	(3.57)	12.35
EVC	2.65	0.01	0.00	(0.02)	3.35	(3.03)	5.93	(4.44)	27.22
CTV	2.71	1.00	0.35	(0.56)	1.18	(4.89)	1.33	(4.81)	88.33
CRTO	1.68	0.16	0.08	0.12	1.87	(1.95)	3.87	(3.68)	22.21
ZD	1.34	(0.25)	0.00	(0.26)	0.00	0.00	2.11	(2.84)	6.68
QUOT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IPG	1.09	0.03	0.02	0.04	1.24	(1.24)	2.63	(2.21)	6.96
CMPR	2.12	(0.63)	0.00	(1.15)	0.00	0.00	3.95	(5.34)	11.06

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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