MGNI vs. FLEX
MGNI (Magnite, Inc.) and FLEX (Flex Ltd.) are both stocks. MGNI operates in Advertising Agencies (Communication Services), while FLEX operates in Electronic Components (Technology). Over the past 10 years, MGNI returned 1.65%/yr vs 35.66%/yr for FLEX. At a 0.33 correlation, their price movements are largely independent.
Performance
MGNI vs. FLEX - Performance Comparison
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Returns By Period
In the year-to-date period, MGNI achieves a 0.12% return, which is significantly lower than FLEX's 147.78% return. Over the past 10 years, MGNI has underperformed FLEX with an annualized return of 1.65%, while FLEX has yielded a comparatively higher 35.66% annualized return.
MGNI
- 1D
- 0.31%
- 1M
- 26.76%
- YTD
- 0.12%
- 6M
- -0.31%
- 1Y
- -4.97%
- 3Y*
- 6.24%
- 5Y*
- -13.13%
- 10Y*
- 1.65%
FLEX
- 1D
- -1.50%
- 1M
- 8.60%
- YTD
- 147.78%
- 6M
- 117.60%
- 1Y
- 247.11%
- 3Y*
- 116.67%
- 5Y*
- 71.04%
- 10Y*
- 35.66%
MGNI vs. FLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGNI Magnite, Inc. | 0.12% | 1.95% | 70.45% | -11.80% | -39.49% | -43.02% | 276.35% | 118.77% | 99.47% | -74.80% |
FLEX Flex Ltd. | 147.78% | 57.38% | 127.87% | 41.94% | 17.08% | 1.95% | 42.47% | 65.83% | -57.70% | 25.19% |
Correlation
The correlation between MGNI and FLEX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2014 | 0.33 |
Over the past year, the correlation between MGNI and FLEX has dropped to 0.02 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
Fundamentals
MGNI:
$2.41B
FLEX:
$55.99B
MGNI:
$1.05
FLEX:
$2.33
MGNI:
15.45
FLEX:
64.26
MGNI:
0.00
FLEX:
3.35
MGNI:
3.39
FLEX:
2.03
MGNI:
2.62
FLEX:
10.88
MGNI:
$722.55M
FLEX:
$27.91B
MGNI:
$458.33M
FLEX:
$2.57B
MGNI:
$150.13M
FLEX:
$1.66B
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Return for Risk
MGNI vs. FLEX — Risk / Return Rank
MGNI
FLEX
MGNI vs. FLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Magnite, Inc. (MGNI) and Flex Ltd. (FLEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MGNI | FLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.13 | ||
| Sortino ratioReturn per unit of downside risk | -4.45 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.60 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 13.34 | -13.48 |
| Martin ratioReturn relative to average drawdown | -0.20 | 31.62 | -31.82 |
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Drawdowns
MGNI vs. FLEX - Drawdown Comparison
The maximum MGNI drawdown since its inception was -93.30%, roughly equal to the maximum FLEX drawdown of -96.37%. Use the drawdown chart below to compare losses from any high point for MGNI and FLEX.
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Drawdown Indicators
| MGNI | FLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.30% | -96.37% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -57.77% | -18.38% | -39.39% |
Max Drawdown (3Y)Largest decline over 3 years | -57.95% | -39.99% | -17.96% |
Max Drawdown (5Y)Largest decline over 5 years | -84.35% | -39.99% | -44.36% |
Max Drawdown (10Y)Largest decline over 10 years | -90.65% | -70.02% | -20.63% |
Current DrawdownCurrent decline from peak | -73.71% | -7.55% | -66.16% |
Average DrawdownAverage peak-to-trough decline | -64.84% | -55.27% | -9.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.47% | 7.74% | +30.73% |
Volatility
MGNI vs. FLEX - Volatility Comparison
The current volatility for Magnite, Inc. (MGNI) is 15.85%, while Flex Ltd. (FLEX) has a volatility of 19.36%. This indicates that MGNI experiences smaller price fluctuations and is considered to be less risky than FLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGNI | FLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.85% | 19.36% | -3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 41.24% | 50.61% | -9.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.37% | 61.43% | -4.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.01% | 47.26% | +27.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.60% | 45.86% | +30.74% |
Dividends
MGNI vs. FLEX - Dividend Comparison
Neither MGNI nor FLEX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FLEX Flex Ltd. | 0.00% | 0.00% | 21.00% |
MGNI Magnite, Inc. | 0.00% | 0.00% | 0.00% |
Financials
MGNI vs. FLEX - Financials Comparison
This section allows you to compare key financial metrics between Magnite, Inc. and Flex Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MGNI vs. FLEX - Profitability Comparison
MGNI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Magnite, Inc. reported a gross profit of 103.96M and revenue of 164.37M. Therefore, the gross margin over that period was 63.3%.
FLEX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Flex Ltd. reported a gross profit of 702.00M and revenue of 7.48B. Therefore, the gross margin over that period was 9.4%.
MGNI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Magnite, Inc. reported an operating income of 7.72M and revenue of 164.37M, resulting in an operating margin of 4.7%.
FLEX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Flex Ltd. reported an operating income of 372.00M and revenue of 7.48B, resulting in an operating margin of 5.0%.
MGNI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Magnite, Inc. reported a net income of 4.41M and revenue of 164.37M, resulting in a net margin of 2.7%.
FLEX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Flex Ltd. reported a net income of 250.00M and revenue of 7.48B, resulting in a net margin of 3.3%.
Frequently Asked Questions
MGNI and FLEX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLEX has higher volatility (19.36%) compared to MGNI (15.85%). In terms of maximum drawdown, MGNI dropped -93.30% vs FLEX's -96.37%.
FLEX currently has the higher Sharpe Ratio (3.99 vs -0.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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