Las Vegas Correlations

Stocks . USA . 
Stock . Las Vegas Sands
LVS Stock  USD 50.08  0.01  0.02%   
The current 90-days correlation between Las Vegas Sands and MGM Resorts International is 0.53 (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.

Las Vegas Correlation With Market

Modest diversification

The correlation between Las Vegas Sands and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Las Vegas Sands and DJI in the same portfolio, assuming nothing else is changed.
  
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

  0.74EVRI Everi HoldingsPairCorr
  0.88AGS PlayAGSPairCorr
  0.67CMG Chipotle Mexican Grill Aggressive PushPairCorr
  0.63EAT Brinker InternationalPairCorr
  0.76WEN The WendysPairCorr
  0.78NATH Nathans FamousPairCorr
  0.79BJRI BJs RestaurantsPairCorr
  0.73TXRH Texas RoadhousePairCorr
  0.87HD Home DepotPairCorr

Moving against Las Stock

  0.84LNW Light WonderPairCorr
  0.67IGT International GamePairCorr
  0.55ARKR Ark Restaurants CorpPairCorr
  0.43BLMN Bloomin BrandsPairCorr
  0.35WING WingstopPairCorr
  0.76FL Foot Locker Earnings Call This WeekPairCorr
  0.59LEA LearPairCorr
  0.55VC Visteon CorpPairCorr
  0.51HVT Haverty FurniturePairCorr
  0.39ASO Academy Sports Outdoors Earnings Call This WeekPairCorr
  0.37AN AutoNationPairCorr
  0.36ETD Ethan Allen InteriorsPairCorr

Related Correlations Analysis

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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   
WYNN
+ 0.9
MLCO
CZR
+ 0.83
MGM
MLCO
+ 0.8
CZR
WYNN
+ 0.79
CZR
WYNN
+ 0.77
MGM
MLCO
+ 0.68
MGM
  
High negative correlations   
RRR
- 0.45
WYNN
RRR
- 0.32
PENN
RRR
- 0.21
MLCO
RRR
- 0.16
CZR
MLCO
- 0.12
PENN
RRR
- 0.1
MGM

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.

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