Madrigal Pharmaceuticals, Inc. Common Stock (MDGL) — Stock Correlations & Overview
Over the past year, MDGL has moved most closely with BBP, LABU, XBI. Explore the stocks most correlated and inversely correlated with MDGL below, along with its price, financials, and company profile.
Stocks correlated with MDGL
Correlation of daily returns. Higher positive values move with MDGL; negative values move opposite it. Informational only, not investment advice.
Most correlated with MDGL
| Symbol | Company | Correlation |
|---|---|---|
| BBP | Virtus Biotech ETF | 0.45 |
| LABU | Direxion Daily S&P Biotech Bull 3X ETF | 0.41 |
| XBI | State Street SPDR S&P Biotech ETF | 0.41 |
| PBE | Invesco Biotechnology & Genome ETF | 0.40 |
| BIB | ProShares Ultra NASDAQ Biotechnology | 0.40 |
Most inversely correlated with MDGL
| Symbol | Company | Correlation |
|---|---|---|
| LABD | Direxion Daily S&P Biotech Bear 3X ETF | -0.41 |
| BIS | ProShares UltraShort NASDAQ Biotechnology | -0.39 |
| MGN | Megan Holdings Limited Class A Ordinary Shares | -0.23 |
| CODIpC | Compass Diversified Holdings 7.875% Series C Cumulative Preferred SharesHOUSEHOLD FURNITURE | -0.23 |
| PULM | Pulmatrix, Inc. Common StockPHARMACEUTICAL PREPARATIONS | -0.22 |
Frequently asked questions about MDGL correlations
- Which stocks are most correlated with MDGL?
- Based on one year of daily returns, the stocks most correlated with Madrigal Pharmaceuticals, Inc. Common Stock (MDGL) are BBP (0.45), LABU (0.41) and XBI (0.41). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with MDGL?
- Over the past year, the stocks most inversely correlated with Madrigal Pharmaceuticals, Inc. Common Stock (MDGL) are LABD (-0.41), BIS (-0.39) and MGN (-0.23). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these MDGL correlations calculated?
- We compute the correlation of daily returns between MDGL and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.