Las Vegas Correlations

LVS Stock

USD 48.52 0.25 0.52%

The current 90-days correlation between Las Vegas Sands and MGM Resorts International is -0.17 (i.e., Good 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

Very weak diversification

The correlation between Las Vegas Sands and DJI is 0.58 (i.e., Very weak 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.

Build AI portfolio with Las Stock

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

0.95	RRR	Red Rock Resorts	Pair Corr
0.72	FL	Foot Locker Sell-off Trend	Pair Corr
0.85	RL	Ralph Lauren Corp	Pair Corr
0.74	EPSM	Epsium Enterprise	Pair Corr
0.86	ANF	Abercrombie Fitch	Pair Corr
0.64	BBY	Best Buy	Pair Corr
0.9	BKE	Buckle Inc	Pair Corr
0.84	FOSL	Fossil Group	Pair Corr
0.8	FND	Floor Decor Holdings Earnings Call This Week	Pair Corr
0.89	GES	Guess Inc	Pair Corr
0.9	HVT	Haverty Furniture Earnings Call This Week	Pair Corr
0.8	LEG	Leggett Platt Earnings Call This Week	Pair Corr
0.79	TPH	TRI Pointe Homes Earnings Call Today	Pair Corr
0.81	UAA	Under Armour A Aggressive Push	Pair Corr
0.64	GPRO	GoPro Inc Buyout Trend	Pair Corr
0.78	GRPN	Groupon	Pair Corr
0.91	SCVL	Shoe Carnival	Pair Corr
0.72	ARHS	Arhaus Inc	Pair Corr
0.84	SONO	Sonos Inc	Pair Corr
0.61	BURL	Burlington Stores	Pair Corr
0.77	URBN	Urban Outfitters	Pair Corr
0.73	RFG	Retail Food Group	Pair Corr
0.83	INBX	Inhibrx Biosciences,	Pair Corr
0.78	LNDNF	Lundin Energy AB	Pair Corr

Moving against Las Stock

0.36	AEO	American Eagle Outfitters	Pair Corr
0.6	TOY	Toys R ANZ	Pair Corr
0.4	ROST	Ross Stores	Pair Corr
0.67	603057	Shanghai Ziyan Foods	Pair Corr
0.45	07274NBG7	BAYNGR 5 15	Pair Corr

Related Correlations Analysis

	MGM	CZR	PENN	MLCO	WYNN	RRR
MGM		0.84	0.89	0.93	0.94	0.85	MGM
CZR	0.84		0.69	0.71	0.84	0.57	CZR
PENN	0.89	0.69		0.86	0.77	0.82	PENN
MLCO	0.93	0.71	0.86		0.94	0.93	MLCO
WYNN	0.94	0.84	0.77	0.94		0.86	WYNN
RRR	0.85	0.57	0.82	0.93	0.86		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	1.72	0.40	0.10	(1.33)	1.57	(2.05)	4.70	(2.34)	11.03
CZR	2.17	0.38	0.05	(0.53)	2.30	(2.46)	5.72	(3.68)	13.72
PENN	2.22	0.40	0.09	5.63	2.34	(2.54)	5.64	(3.56)	16.00
MLCO	1.91	0.82	0.47	0.84	1.03	(2.46)	5.07	(2.63)	12.73
WYNN	1.61	0.57	0.25	(5.40)	1.23	(2.04)	3.12	(2.88)	11.59
RRR	1.46	0.27	0.25	0.38	0.82	(1.87)	5.16	(2.08)	8.51

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