Las Vegas Correlations

LVS Stock

USD 48.24 4.81 11.08%

The current 90-days correlation between Las Vegas Sands and MGM Resorts International is 0.46 (i.e., Very weak diversification). The correlation of Las Vegas 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Las Vegas Sands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Las Stock

0.68	CMG	Chipotle Mexican Grill Earnings Call This Week	Pair Corr
0.73	MCD	McDonalds Earnings Call This Week	Pair Corr
0.82	QSR	Restaurant Brands	Pair Corr
0.69	WEN	The Wendys	Pair Corr
0.8	YUM	Yum Brands Earnings Call This Week	Pair Corr
0.66	JACK	Jack In	Pair Corr
0.84	KRUS	Kura Sushi USA	Pair Corr
0.72	RAVE	Rave Restaurant Group	Pair Corr

Moving against Las Stock

0.56	DRI	Darden Restaurants	Pair Corr
0.5	PBPB	Potbelly	Pair Corr
0.38	FATBB	FAT Brands	Pair Corr
0.35	PTLO	Portillos Sell-off Trend	Pair Corr
0.52	CBRL	Cracker Barrel Old	Pair Corr
0.46	GV	Visionary Education	Pair Corr
0.42	BROS	Dutch Bros	Pair Corr
0.4	VSTA	Vasta Platform	Pair Corr
0.37	ARKR	Ark Restaurants Corp	Pair Corr
0.37	EDTK	Skillful Craftsman	Pair Corr
0.33	BTBD	Bt Brands	Pair Corr
0.33	CAKE	The Cheesecake Factory	Pair Corr

Related Correlations Analysis

	MGM	CZR	PENN	MLCO	WYNN	RRR
MGM		0.91	0.4	0.71	0.81	0.82	MGM
CZR	0.91		0.43	0.74	0.7	0.92	CZR
PENN	0.4	0.43		0.1	0.25	0.42	PENN
MLCO	0.71	0.74	0.1		0.68	0.74	MLCO
WYNN	0.81	0.7	0.25	0.68		0.57	WYNN
RRR	0.82	0.92	0.42	0.74	0.57		RRR
	MGM	CZR	PENN	MLCO	WYNN	RRR

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Risk-Adjusted Indicators

There is a big difference between Las Stock performing well and Las Vegas 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 Las Vegas' 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
MGM	1.35	(0.22)	0.00	(1.79)	0.00	0.00	2.60	(2.68)	14.33
CZR	1.70	(0.31)	0.00	(0.60)	0.00	0.00	3.06	(3.66)	11.25
PENN	2.53	0.15	0.01	(0.42)	2.63	(2.92)	4.92	(4.24)	10.06
MLCO	1.87	(0.18)	0.00	(1.30)	0.00	0.00	3.68	(4.59)	12.38
WYNN	1.52	(0.04)	0.00	0.13	0.00	0.00	2.63	(3.30)	13.78
RRR	1.58	(0.09)	0.00	(0.05)	0.00	0.00	3.22	(3.29)	13.24

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Las Vegas Correlations

Moving together with Las Stock

Moving against Las Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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