PlayAGS Correlations

AGS Stock

USD 11.66 0.01 0.09%

The current 90-days correlation between PlayAGS and Everi Holdings is -0.01 (i.e., Good diversification). The correlation of PlayAGS 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. If the correlation is 0, the equities are not correlated; they are entirely random.

PlayAGS Correlation With Market

Good diversification

The correlation between PlayAGS and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PlayAGS and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy PlayAGS Stock please use our How to Invest in PlayAGS guide.

Moving together with PlayAGS Stock

0.76	EVRI	Everi Holdings	Pair Corr
0.61	DPZ	Dominos Pizza	Pair Corr
0.84	EAT	Brinker International	Pair Corr
0.67	WEN	The Wendys	Pair Corr
0.86	NATH	Nathans Famous	Pair Corr
0.73	PLYA	Playa Hotels Resorts	Pair Corr
0.78	SHAK	Shake Shack	Pair Corr
0.8	BJRI	BJs Restaurants	Pair Corr
0.85	TXRH	Texas Roadhouse	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.61	DORM	Dorman Products	Pair Corr
0.73	FLXS	Flexsteel Industries	Pair Corr

Moving against PlayAGS Stock

0.79	IGT	International Game	Pair Corr
0.68	LNW	Light Wonder	Pair Corr
0.66	ARKR	Ark Restaurants Corp	Pair Corr
0.61	BLMN	Bloomin Brands	Pair Corr
0.58	WING	Wingstop	Pair Corr
0.76	LEA	Lear	Pair Corr
0.74	HVT	Haverty Furniture	Pair Corr
0.64	ASO	Academy Sports Outdoors Earnings Call This Week	Pair Corr
0.6	FL	Foot Locker Earnings Call This Week	Pair Corr
0.6	VC	Visteon Corp	Pair Corr
0.59	FOXF	Fox Factory Holding	Pair Corr
0.57	ETD	Ethan Allen Interiors	Pair Corr
0.51	FND	Floor Decor Holdings	Pair Corr
0.46	DAN	Dana Inc	Pair Corr
0.46	MHK	Mohawk Industries	Pair Corr
0.42	AN	AutoNation	Pair Corr

Related Correlations Analysis

	LNW	EVRI	INSE	IGT	NGMS	ACEL	CDRO	GAMB	CPHC	CHDN
LNW		-0.47	-0.22	0.66	0.0	0.41	-0.04	-0.12	-0.01	0.24	LNW
EVRI	-0.47		0.61	-0.55	0.0	-0.11	-0.21	0.19	0.14	0.35	EVRI
INSE	-0.22	0.61		-0.46	0.0	0.45	-0.2	0.43	0.23	0.31	INSE
IGT	0.66	-0.55	-0.46		0.0	0.28	0.16	-0.63	-0.14	-0.12	IGT
NGMS	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NGMS
ACEL	0.41	-0.11	0.45	0.28	0.0		0.08	0.22	0.17	0.23	ACEL
CDRO	-0.04	-0.21	-0.2	0.16	0.0	0.08		-0.46	-0.04	-0.25	CDRO
GAMB	-0.12	0.19	0.43	-0.63	0.0	0.22	-0.46		0.15	0.2	GAMB
CPHC	-0.01	0.14	0.23	-0.14	0.0	0.17	-0.04	0.15		0.2	CPHC
CHDN	0.24	0.35	0.31	-0.12	0.0	0.23	-0.25	0.2	0.2		CHDN
	LNW	EVRI	INSE	IGT	NGMS	ACEL	CDRO	GAMB	CPHC	CHDN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

IGT	+ 0.66	LNW
INSE	+ 0.61	EVRI
ACEL	+ 0.45	INSE
GAMB	+ 0.43	INSE
ACEL	+ 0.41	LNW
CHDN	+ 0.35	EVRI

High negative correlations

GAMB	- 0.63	IGT
IGT	- 0.55	EVRI
EVRI	- 0.47	LNW
GAMB	- 0.46	CDRO
IGT	- 0.46	INSE
CHDN	- 0.25	CDRO

Risk-Adjusted Indicators

There is a big difference between PlayAGS Stock performing well and PlayAGS 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 PlayAGS'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
LNW	1.60	(0.19)	0.00	(0.33)	0.00	0.00	2.45	(2.65)	22.15
EVRI	0.14	0.04	(0.44)	0.66	0.00	(0.19)	0.31	(0.23)	0.83
INSE	1.58	0.12	0.03	0.32	2.11	(1.65)	3.69	(3.37)	10.43
IGT	1.02	(0.20)	0.00	2.20	0.00	0.00	1.82	(1.98)	8.45
NGMS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACEL	0.98	(0.01)	(0.09)	0.06	1.21	(1.11)	2.04	(2.40)	6.38
CDRO	1.33	(0.04)	0.00	(0.25)	0.00	0.00	3.69	(2.09)	15.12
GAMB	1.61	0.44	0.17	(9.95)	1.35	(2.07)	3.12	(2.31)	25.87
CPHC	33.38	18.62	0.67	(0.55)	12.80	(41.66)	3.95	(4.59)	1,005
CHDN	1.00	0.09	(0.06)	(0.16)	1.17	(1.16)	2.12	(2.15)	9.87

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC