Golden Entertainment Correlations

GDEN Stock

USD 27.32 0.47 1.69%

The current 90-days correlation between Golden Entertainment and Century Casinos is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Golden Entertainment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Entertainment moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Golden Entertainment Correlation With Market

Very weak diversification

The correlation between Golden Entertainment and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Entertainment and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Golden 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 income.

To learn how to invest in Golden Stock, please use our How to Invest in Golden Entertainment guide.

Moving together with Golden Stock

0.81	WING	Wingstop	Pair Corr
0.66	CMG	Chipotle Mexican Grill	Pair Corr
0.9	LOCO	El Pollo Loco	Pair Corr
0.82	BLMN	Bloomin Brands	Pair Corr
0.9	W	Wayfair Buyout Trend	Pair Corr
0.92	HD	Home Depot	Pair Corr
0.87	RH	RH Earnings Call This Week	Pair Corr
0.7	VSCO	Victorias Secret	Pair Corr
0.8	ETSY	Etsy Inc	Pair Corr
0.9	EWCZ	European Wax Center	Pair Corr
0.85	BBY	Best Buy	Pair Corr
0.72	BLD	Topbuild Corp	Pair Corr
0.64	CCS	Century Communities	Pair Corr
0.88	DDS	Dillards	Pair Corr
0.91	DKS	Dicks Sporting Goods	Pair Corr
0.61	XELB	Xcel Brands	Pair Corr
0.78	FND	Floor Decor Holdings	Pair Corr
0.73	HOV	Hovnanian Enterprises	Pair Corr

Moving against Golden Stock

0.61	VIPS	Vipshop Holdings	Pair Corr
0.58	YUM	Yum Brands	Pair Corr
0.39	MCD	McDonalds	Pair Corr
0.33	JD	JD Inc Adr	Pair Corr
0.31	NATH	Nathans Famous	Pair Corr
0.57	AZO	AutoZone	Pair Corr
0.32	JWN	Nordstrom	Pair Corr

Related Correlations Analysis

	RRR	CNTY	MSC	BALY	MCRI	MLCO	BVH	CZR	HGV	FLL
RRR		0.38	-0.26	-0.45	0.78	0.28	0.0	0.77	0.84	0.72	RRR
CNTY	0.38		0.57	0.06	-0.05	0.47	0.0	0.77	0.52	0.31	CNTY
MSC	-0.26	0.57		0.47	-0.69	0.48	0.0	0.22	-0.16	-0.34	MSC
BALY	-0.45	0.06	0.47		-0.51	0.12	0.0	-0.09	-0.38	-0.23	BALY
MCRI	0.78	-0.05	-0.69	-0.51		0.04	0.0	0.35	0.59	0.57	MCRI
MLCO	0.28	0.47	0.48	0.12	0.04		0.0	0.37	0.2	-0.13	MLCO
BVH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	BVH
CZR	0.77	0.77	0.22	-0.09	0.35	0.37	0.0		0.77	0.73	CZR
HGV	0.84	0.52	-0.16	-0.38	0.59	0.2	0.0	0.77		0.65	HGV
FLL	0.72	0.31	-0.34	-0.23	0.57	-0.13	0.0	0.73	0.65		FLL
	RRR	CNTY	MSC	BALY	MCRI	MLCO	BVH	CZR	HGV	FLL

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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	+ 0.84	RRR
MCRI	+ 0.78	RRR
CZR	+ 0.77	RRR
CZR	+ 0.77	CNTY
HGV	+ 0.77	CZR
FLL	+ 0.73	CZR

High negative correlations

MCRI	- 0.69	MSC
MCRI	- 0.51	BALY
BALY	- 0.45	RRR
HGV	- 0.38	BALY
FLL	- 0.34	MSC
MSC	- 0.26	RRR

Risk-Adjusted Indicators

There is a big difference between Golden Stock performing well and Golden Entertainment 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 Golden Entertainment'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RRR	1.42	(0.06)	0.00	(0.11)	0.00	0.00	2.97	(3.28)	9.16
CNTY	2.75	(1.00)	0.00	(1.30)	0.00	0.00	5.32	(6.40)	30.49
MSC	4.75	(0.58)	0.00	(0.66)	0.00	0.00	15.97	(8.75)	38.66
BALY	3.61	0.14	0.06	(0.14)	4.92	(4.50)	8.32	(7.62)	50.30
MCRI	1.15	(0.06)	0.00	(0.16)	0.00	0.00	1.58	(2.91)	11.31
MLCO	2.22	(0.21)	0.00	(0.29)	0.00	0.00	4.55	(4.66)	13.37
BVH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CZR	1.87	(0.34)	0.00	(0.30)	0.00	0.00	3.49	(4.81)	15.59
HGV	1.73	0.02	0.00	(0.06)	0.00	0.00	3.62	(4.32)	12.20
FLL	2.24	0.04	0.02	(0.01)	2.81	(2.47)	4.11	(4.57)	20.31

Golden Entertainment Corporate Management

Phyllis Gilland	General Counsel	Profile
Blake Sr	Chairman CEO	Profile
Blake II	Executive Operations	Profile
Viktoryia Pulliam	Senior Officer	Profile

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