Century Casinos Correlations

CNTY Stock

USD 1.80 0.04 2.17%

The current 90-days correlation between Century Casinos and Golden Entertainment is 0.16 (i.e., Average diversification). The correlation of Century Casinos 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.

Century Casinos Correlation With Market

Average diversification

The correlation between Century Casinos and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Century Casinos 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 Century Casinos. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Century Stock please use our How to Invest in Century Casinos guide.

Moving together with Century Stock

0.79	FUN	Six Flags Entertainment	Pair Corr
0.68	XPOF	Xponential Fitness	Pair Corr
0.75	PLAY	Dave Busters Enterta	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.71	FNKO	Funko Inc	Pair Corr
0.8	CRI	Carters	Pair Corr
0.76	KTB	Kontoor Brands	Pair Corr
0.65	NVR	NVR Inc	Pair Corr
0.73	WWW	Wolverine World Wide	Pair Corr
0.8	JOUT	Johnson Outdoors	Pair Corr
0.74	ARMK	Aramark Holdings	Pair Corr
0.95	COOK	Traeger	Pair Corr

Moving against Century Stock

0.41	LTH	Life Time Group	Pair Corr
0.38	MCD	McDonalds	Pair Corr
0.8	RTMVF	Rightmove plc	Pair Corr
0.77	GORO	Gold Resource	Pair Corr
0.76	RBKB	Rhinebeck Bancorp	Pair Corr
0.7	INVX	Innovex International, Symbol Change	Pair Corr
0.66	DNCVF	Defiance Silver Corp	Pair Corr
0.66	TCTZF	Tencent Holdings	Pair Corr
0.62	KEY-PI	KeyCorp	Pair Corr
0.62	CBYDF	Corby Spirit	Pair Corr
0.58	FWEDF	Fireweed Zinc	Pair Corr
0.58	BAOB	Baraboo Bancorporation	Pair Corr
0.56	KGC	Kinross Gold Aggressive Push	Pair Corr

Related Correlations Analysis

	GDEN	MCRI	RRR	BVH	MSC	BALY	MLCO	FLL	HGV
GDEN		0.22	0.63	0.0	0.27	0.02	0.28	0.65	0.79	GDEN
MCRI	0.22		0.77	0.0	-0.66	-0.49	-0.05	0.56	0.58	MCRI
RRR	0.63	0.77		0.0	-0.22	-0.42	0.3	0.63	0.83	RRR
BVH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	BVH
MSC	0.27	-0.66	-0.22	0.0		0.48	0.56	-0.32	-0.16	MSC
BALY	0.02	-0.49	-0.42	0.0	0.48		0.16	-0.2	-0.36	BALY
MLCO	0.28	-0.05	0.3	0.0	0.56	0.16		-0.2	0.19	MLCO
FLL	0.65	0.56	0.63	0.0	-0.32	-0.2	-0.2		0.6	FLL
HGV	0.79	0.58	0.83	0.0	-0.16	-0.36	0.19	0.6		HGV
	GDEN	MCRI	RRR	BVH	MSC	BALY	MLCO	FLL	HGV

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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

HGV	+ 0.83	RRR
HGV	+ 0.79	GDEN
RRR	+ 0.77	MCRI
FLL	+ 0.65	GDEN
RRR	+ 0.63	GDEN
FLL	+ 0.63	RRR

High negative correlations

MSC	- 0.66	MCRI
BALY	- 0.49	MCRI
BALY	- 0.42	RRR
HGV	- 0.36	BALY
FLL	- 0.32	MSC
MSC	- 0.22	RRR

Risk-Adjusted Indicators

There is a big difference between Century Stock performing well and Century Casinos 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 Century Casinos' 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
GDEN	1.47	(0.26)	0.00	1.51	0.00	0.00	3.23	(3.29)	7.69
MCRI	1.16	(0.06)	0.00	(0.17)	0.00	0.00	1.58	(2.91)	11.31
RRR	1.41	(0.12)	0.00	1.96	0.00	0.00	2.97	(3.28)	9.16
BVH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSC	4.76	(0.59)	0.00	0.81	0.00	0.00	15.97	(8.75)	38.66
BALY	3.38	0.02	0.03	(0.09)	5.12	(4.23)	8.32	(7.62)	50.30
MLCO	2.20	(0.26)	0.00	1.78	0.00	0.00	4.55	(4.66)	13.37
FLL	2.21	(0.01)	0.00	(0.09)	0.00	0.00	4.11	(4.57)	20.31
HGV	1.73	(0.09)	0.00	(18.19)	0.00	0.00	3.62	(4.32)	12.20

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