MGM Resorts Correlations

MGG Stock

EUR 32.90 0.96 3.01%

The current 90-days correlation between MGM Resorts International and Galaxy Entertainment Group is 0.06 (i.e., Significant diversification). The correlation of MGM Resorts 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.

MGM Resorts Correlation With Market

Average diversification

The correlation between MGM Resorts International and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGM Resorts International and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MGM Resorts could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MGM Resorts when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MGM Resorts - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MGM Resorts International to buy it.

Moving together with MGM Stock

0.71	WYR	Wynn Resorts Limited Earnings Call This Week	Pair Corr
0.68	6GI0	ENTAIN PLC UNSPADR1	Pair Corr
0.7	6GI	Entain Plc	Pair Corr
0.66	T9Q	TOTAL BANGUN PERSAD	Pair Corr
0.61	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.68	KM6	ADHI KARYA	Pair Corr
0.69	TBA	TAMBANG BATUBARA B	Pair Corr
0.61	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against MGM Stock

0.66	DBPE	Xtrackers LevDAX	Pair Corr
0.55	E908	Lyxor 1	Pair Corr
0.52	BO5	Boyd Gaming Earnings Call This Week	Pair Corr
0.4	I41	INDIKA ENERGY	Pair Corr

Related Correlations Analysis

	LCR	KW9A	599A	MGG	WYR	6GI0	6GI	VAI	36T	BO5
LCR		0.7	0.75	0.55	0.67	0.75	0.69	0.26	0.36	-0.21	LCR
KW9A	0.7		0.69	0.24	0.36	0.61	0.59	0.25	0.19	0.01	KW9A
599A	0.75	0.69		0.07	0.31	0.39	0.3	0.41	0.19	-0.07	599A
MGG	0.55	0.24	0.07		0.71	0.68	0.7	-0.27	0.52	-0.52	MGG
WYR	0.67	0.36	0.31	0.71		0.69	0.69	0.0	0.33	-0.23	WYR
6GI0	0.75	0.61	0.39	0.68	0.69		0.95	0.06	0.3	-0.08	6GI0
6GI	0.69	0.59	0.3	0.7	0.69	0.95		0.04	0.26	-0.06	6GI
VAI	0.26	0.25	0.41	-0.27	0.0	0.06	0.04		-0.49	0.63	VAI
36T	0.36	0.19	0.19	0.52	0.33	0.3	0.26	-0.49		-0.74	36T
BO5	-0.21	0.01	-0.07	-0.52	-0.23	-0.08	-0.06	0.63	-0.74		BO5
	LCR	KW9A	599A	MGG	WYR	6GI0	6GI	VAI	36T	BO5

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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

6GI	+ 0.95	6GI0
599A	+ 0.75	LCR
6GI0	+ 0.75	LCR
WYR	+ 0.71	MGG
KW9A	+ 0.7	LCR
6GI	+ 0.7	MGG

High negative correlations

BO5	- 0.74	36T
BO5	- 0.52	MGG
36T	- 0.49	VAI
VAI	- 0.27	MGG
BO5	- 0.23	WYR
BO5	- 0.21	LCR

Risk-Adjusted Indicators

There is a big difference between MGM Stock performing well and MGM Resorts 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 MGM Resorts' 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
LCR	1.36	(0.11)	0.00	2.64	0.00	0.00	3.33	(2.84)	10.54
KW9A	1.45	0.04	0.00	0.15	1.67	(1.82)	3.50	(3.10)	11.12
599A	1.55	(0.11)	0.00	(0.37)	0.00	0.00	3.59	(3.03)	13.71
MGG	1.34	(0.17)	0.00	(0.70)	0.00	0.00	2.95	(2.77)	9.01
WYR	1.39	(0.04)	0.00	0.15	0.00	0.00	2.98	(2.84)	11.12
6GI0	1.97	(0.05)	0.00	(0.12)	0.00	0.00	3.95	(5.18)	14.61
6GI	2.07	(0.06)	0.00	(0.29)	0.00	0.00	4.92	(4.44)	16.27
VAI	1.75	0.07	0.00	0.62	1.87	(2.31)	4.40	(3.76)	10.62
36T	2.26	(0.11)	0.00	0.53	0.00	0.00	5.66	(5.45)	14.29
BO5	1.13	0.36	0.17	(1.01)	0.92	(1.54)	3.12	(1.42)	11.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in MGM Resorts without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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MGM Resorts Corporate Management

Elected by the shareholders, the MGM Resorts' board of directors comprises two types of representatives: MGM Resorts inside directors who are chosen from within the company, and outside directors, selected externally and held independent of MGM. The board's role is to monitor MGM Resorts' management team and ensure that shareholders' interests are well served. MGM Resorts' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, MGM Resorts' outside directors are responsible for providing unbiased perspectives on the board's policies.

Jyoti Chopra	Inclusion People	Profile
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