Las Vegas Correlations

LVS Stock

USD 40.22 0.04 0.1%

The current 90-days correlation between Las Vegas Sands and MGM Resorts International is 0.77 (i.e., Poor 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

Poor diversification

The correlation between Las Vegas Sands and DJI is 0.78 (i.e., Poor 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

0.65	HD	Home Depot	Pair Corr
0.8	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.72	IBM	International Business	Pair Corr
0.74	PFE	Pfizer Inc	Pair Corr
0.85	HPQ	HP Inc	Pair Corr
0.87	MMM	3M Company	Pair Corr
0.77	BAC	Bank of America	Pair Corr

Moving against Las Stock

0.4

NEM

Newmont Goldcorp Corp

Pair Corr

Related Correlations Analysis

	MGM	CZR	PENN	MLCO	WYNN	RRR
MGM		0.91	0.47	0.76	0.89	0.72	MGM
CZR	0.91		0.52	0.66	0.83	0.56	CZR
PENN	0.47	0.52		0.23	0.38	0.26	PENN
MLCO	0.76	0.66	0.23		0.91	0.91	MLCO
WYNN	0.89	0.83	0.38	0.91		0.82	WYNN
RRR	0.72	0.56	0.26	0.91	0.82		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	2.16	0.00	0.00	0.00	2.74	(2.31)	4.70	(3.95)	20.70
CZR	2.56	(0.18)	0.00	(0.11)	0.00	0.00	5.80	(4.93)	24.96
PENN	2.82	(0.30)	0.00	(0.16)	0.00	0.00	6.38	(7.51)	28.17
MLCO	1.96	0.02	0.01	0.01	2.54	(2.42)	4.34	(3.90)	15.52
WYNN	1.96	(0.08)	0.00	(0.06)	0.00	0.00	3.12	(3.82)	19.38
RRR	2.06	0.15	0.06	0.10	2.51	(2.42)	5.68	(3.56)	17.68

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