Melco Resorts Correlations

MLCO Stock

USD 6.40 0.03 0.47%

The current 90-days correlation between Melco Resorts Entert and Wynn Resorts Limited is 0.73 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Melco Resorts moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Melco Resorts Entertainment moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Melco Resorts Correlation With Market

Poor diversification

The correlation between Melco Resorts Entertainment and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Melco Resorts Entertainment and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Melco Stock

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

Moving together with Melco Stock

0.84	WING	Wingstop	Pair Corr
0.62	CMG	Chipotle Mexican Grill Aggressive Push	Pair Corr
0.73	DRI	Darden Restaurants	Pair Corr
0.84	QSR	Restaurant Brands Sell-off Trend	Pair Corr
0.8	PZZA	Papa Johns International	Pair Corr
0.93	SHAK	Shake Shack	Pair Corr
0.89	BROS	Dutch Bros	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.65	BBY	Best Buy	Pair Corr
0.87	GMR	Gaming Realms plc	Pair Corr
0.66	BARBEQUE	Barbeque Nation Hosp	Pair Corr
0.92	NVDA	NVIDIA	Pair Corr
0.94	DELL	Dell Technologies	Pair Corr
0.74	ANVS	Annovis Bio	Pair Corr
0.66	GNS	Genius Group	Pair Corr
0.91	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.92	GE	GE Aerospace	Pair Corr
0.89	IBM	International Business	Pair Corr

Moving against Melco Stock

0.58	SPECIALITY	Speciality Restaurants	Pair Corr
0.49	WEN	The Wendys Buyout Trend	Pair Corr
0.49	JACK	Jack In	Pair Corr
0.33	WESTLIFE	WESTLIFE FOODWORLD	Pair Corr

Related Correlations Analysis

	WYNN	MGM	CZR	PENN	LVS	MCRI	GDEN	BALY	CNTY
WYNN		0.87	0.81	0.39	0.86	0.82	0.9	-0.49	0.57	WYNN
MGM	0.87		0.85	0.6	0.83	0.8	0.79	-0.35	0.53	MGM
CZR	0.81	0.85		0.45	0.64	0.55	0.74	-0.11	0.23	CZR
PENN	0.39	0.6	0.45		0.64	0.53	0.48	0.04	0.45	PENN
LVS	0.86	0.83	0.64	0.64		0.92	0.84	-0.46	0.75	LVS
MCRI	0.82	0.8	0.55	0.53	0.92		0.84	-0.57	0.84	MCRI
GDEN	0.9	0.79	0.74	0.48	0.84	0.84		-0.41	0.72	GDEN
BALY	-0.49	-0.35	-0.11	0.04	-0.46	-0.57	-0.41		-0.58	BALY
CNTY	0.57	0.53	0.23	0.45	0.75	0.84	0.72	-0.58		CNTY
	WYNN	MGM	CZR	PENN	LVS	MCRI	GDEN	BALY	CNTY

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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	+ 0.92	LVS
GDEN	+ 0.9	WYNN
MGM	+ 0.87	WYNN
LVS	+ 0.86	WYNN
CZR	+ 0.85	MGM
GDEN	+ 0.84	LVS

High negative correlations

CNTY	- 0.58	BALY
BALY	- 0.57	MCRI
BALY	- 0.49	WYNN
BALY	- 0.46	LVS
BALY	- 0.41	GDEN
BALY	- 0.35	MGM

Risk-Adjusted Indicators

There is a big difference between Melco Stock performing well and Melco 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 Melco 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
WYNN	2.02	0.06	0.02	0.06	2.72	(2.19)	3.12	(3.82)	19.38
MGM	2.20	0.09	0.04	0.08	2.65	(2.40)	4.70	(4.21)	20.70
CZR	2.69	0.05	0.02	0.05	3.08	(3.27)	5.80	(4.96)	24.96
PENN	2.74	0.07	0.03	0.06	3.29	(3.35)	6.38	(6.58)	28.17
LVS	2.15	(0.05)	(0.01)	(0.01)	3.09	(2.09)	6.15	(5.32)	15.84
MCRI	1.09	0.05	0.03	0.09	1.61	(1.08)	2.48	(2.51)	10.76
GDEN	1.79	0.11	0.04	0.15	2.30	(1.98)	3.71	(3.77)	12.82
BALY	4.81	(0.64)	0.00	(0.27)	0.00	0.00	9.58	(10.75)	43.84
CNTY	3.60	0.48	0.12	0.96	3.39	(5.07)	10.61	(6.56)	32.37

Melco Resorts Corporate Management

Graham Winter	Executive Officer	Profile
Robin CFA	Director Relations	Profile
Amy Kuzdowicz	Senior Officer	Profile
Jeanny Kim	Senior Treasurer	Profile

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