PlayAGS Correlations

Stocks . USA . 
Stock . PlayAGS
AGS Stock  USD 12.09  0.01  0.08%   
The current 90-days correlation between PlayAGS and Wyndham Hotels Resorts is 0.25 (i.e., Modest diversification). The correlation of PlayAGS 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.

PlayAGS Correlation With Market

Significant diversification

The correlation between PlayAGS and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PlayAGS and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in PlayAGS. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.
For more information on how to buy PlayAGS Stock please use our How to Invest in PlayAGS guide.

Moving together with PlayAGS Stock

  0.95EM Smart Share GlobalPairCorr
  0.65DKNG DraftKingsPairCorr
  0.88EVRI Everi HoldingsPairCorr
  0.79DRI Darden Restaurants Earnings Call TodayPairCorr
  0.7EAT Brinker International Downward RallyPairCorr
  0.67FAT FAT BrandsPairCorr
  0.63FLL Full House ResortsPairCorr

Moving against PlayAGS Stock

  0.77CMG Chipotle Mexican GrillPairCorr
  0.63DIN Dine Brands GlobalPairCorr
  0.6DNUT Krispy Kreme Buyout TrendPairCorr
  0.46EJH E Home HouseholdPairCorr
  0.45WING WingstopPairCorr
  0.43WW WW InternationalPairCorr
  0.42BH Biglari HoldingsPairCorr
  0.33SG SweetgreenPairCorr
  0.76HDL SUPER HI INTERNATIONALPairCorr
  0.63MSC Studio City InternationalPairCorr
  0.57LVS Las Vegas SandsPairCorr
  0.53MTN Vail ResortsPairCorr
  0.37GAN GanPairCorr

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   
MAR
+ 0.94
IHG
HLT
+ 0.86
WH
CHH
+ 0.86
HLT
CHH
+ 0.85
IHG
CHH
+ 0.85
MAR
IHG
+ 0.83
WH
  
High negative correlations   
HTHT
- 0.79
H
HTHT
- 0.48
MAR
HTHT
- 0.44
IHG
HTHT
- 0.27
WH
HTHT
- 0.26
CHH

Risk-Adjusted Indicators

There is a big difference between PlayAGS Stock performing well and PlayAGS 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 PlayAGS's 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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