Century Casinos Correlations

CNTY Stock

USD 3.14 0.07 2.28%

The current 90-days correlation between Century Casinos and Golden Entertainment is 0.31 (i.e., Weak diversification). The correlation of Century Casinos 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.

Century Casinos Correlation With Market

Modest diversification

The correlation between Century Casinos and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Century Casinos 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 Century Casinos. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Century Stock

0.71	WING	Wingstop	Pair Corr
0.71	DPZ	Dominos Pizza Common	Pair Corr
0.83	QSR	Restaurant Brands	Pair Corr
0.69	YUM	Yum Brands Earnings Call This Week	Pair Corr
0.8	JACK	Jack In	Pair Corr
0.67	PZZA	Papa Johns International	Pair Corr
0.8	F	Ford Motor Earnings Call This Week	Pair Corr
0.82	JZ	Jianzhi Education	Pair Corr
0.88	BZH	Beazer Homes USA	Pair Corr
0.86	CCS	Century Communities	Pair Corr
0.63	FND	Floor Decor Holdings	Pair Corr
0.68	GNS	Genius Group	Pair Corr
0.88	KBH	KB Home	Pair Corr
0.68	LOW	Lowes Companies	Pair Corr
0.89	MHO	MI Homes	Pair Corr
0.83	MTH	Meritage	Pair Corr

Moving against Century Stock

0.79	TM	Toyota Motor Earnings Call This Week	Pair Corr
0.58	DRI	Darden Restaurants	Pair Corr
0.35	WAFU	Wah Fu Education	Pair Corr
0.56	GLBE	Global E Online	Pair Corr
0.43	UTI	Universal Technical Earnings Call This Week	Pair Corr
0.36	MSN	Emerson Radio	Pair Corr

Related Correlations Analysis

	GDEN	MCRI	RRR	BVH	MSC	BALY	MLCO	FLL	HGV
GDEN		0.75	0.2	0.0	0.12	0.34	0.04	0.12	0.68	GDEN
MCRI	0.75		0.48	0.0	0.11	0.23	0.37	0.38	0.66	MCRI
RRR	0.2	0.48		0.0	0.54	-0.4	0.73	0.47	0.51	RRR
BVH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	BVH
MSC	0.12	0.11	0.54	0.0		-0.81	0.72	-0.3	0.35	MSC
BALY	0.34	0.23	-0.4	0.0	-0.81		-0.63	0.3	0.02	BALY
MLCO	0.04	0.37	0.73	0.0	0.72	-0.63		0.03	0.31	MLCO
FLL	0.12	0.38	0.47	0.0	-0.3	0.3	0.03		0.22	FLL
HGV	0.68	0.66	0.51	0.0	0.35	0.02	0.31	0.22		HGV
	GDEN	MCRI	RRR	BVH	MSC	BALY	MLCO	FLL	HGV

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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

MCRI	+ 0.75	GDEN
MLCO	+ 0.73	RRR
MLCO	+ 0.72	MSC
HGV	+ 0.68	GDEN
HGV	+ 0.66	MCRI
MSC	+ 0.54	RRR

High negative correlations

BALY	- 0.81	MSC
MLCO	- 0.63	BALY
BALY	- 0.4	RRR
FLL	- 0.3	MSC
HGV	- 0.0	BVH
FLL	- 0.0	BVH

Risk-Adjusted Indicators

There is a big difference between Century Stock performing well and Century Casinos 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 Century Casinos' 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
GDEN	1.16	0.16	0.11	0.21	1.37	(1.35)	3.23	(1.92)	12.88
MCRI	0.86	0.09	0.05	0.20	1.31	(0.87)	1.55	(1.47)	8.23
RRR	1.47	(0.12)	0.00	(0.04)	0.00	0.00	3.22	(3.29)	13.24
BVH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSC	2.84	(0.35)	0.00	(0.44)	0.00	0.00	6.23	(6.43)	18.80
BALY	0.28	0.05	(0.05)	1.05	0.00	(0.37)	0.69	(0.34)	2.08
MLCO	2.05	(0.16)	0.00	(0.93)	0.00	0.00	3.68	(4.66)	13.21
FLL	2.27	0.04	0.01	0.11	2.62	(2.87)	4.21	(4.18)	20.31
HGV	1.53	0.12	0.05	0.23	1.81	(1.82)	2.98	(2.31)	12.58

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