Melco Resorts Correlations

M1LC34 Stock

BRL 17.72 0.00 0.00%

The current 90-days correlation between Melco Resorts Entert and salesforce inc is 0.04 (i.e., Significant diversification). The correlation of Melco Resorts 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.

Melco Resorts Correlation With Market

Good diversification

The correlation between Melco Resorts Entertainment and DJI is -0.1 (i.e., Good 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.

The ability to find closely correlated positions to Melco Resorts could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Melco Resorts when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Melco Resorts - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Melco Resorts Entertainment to buy it.

Moving together with Melco Stock

0.7

BABA34

Alibaba Group Holding

Pair Corr

Moving against Melco Stock

0.63	MAPT4	Cemepe Investimentos	Pair Corr
0.47	BERK34	Berkshire Hathaway	Pair Corr
0.42	P2LT34	Palantir Technologies	Pair Corr
0.41	H1SB34	HSBC Holdings plc	Pair Corr
0.38	AMZO34	Amazon Inc	Pair Corr
0.31	GOGL35	Alphabet	Pair Corr
0.31	GOGL34	Alphabet	Pair Corr

Related Correlations Analysis

	SSFO34	HOME34	G2ME34	A1MT34	VERZ34	BOTZ39	M1LM34	P1YC34
SSFO34		0.86	0.94	-0.57	0.56	0.96	0.8	0.91	SSFO34
HOME34	0.86		0.81	-0.42	0.85	0.85	0.7	0.75	HOME34
G2ME34	0.94	0.81		-0.62	0.57	0.93	0.69	0.95	G2ME34
A1MT34	-0.57	-0.42	-0.62		-0.3	-0.49	-0.36	-0.55	A1MT34
VERZ34	0.56	0.85	0.57	-0.3		0.54	0.5	0.48	VERZ34
BOTZ39	0.96	0.85	0.93	-0.49	0.54		0.81	0.9	BOTZ39
M1LM34	0.8	0.7	0.69	-0.36	0.5	0.81		0.66	M1LM34
P1YC34	0.91	0.75	0.95	-0.55	0.48	0.9	0.66		P1YC34
	SSFO34	HOME34	G2ME34	A1MT34	VERZ34	BOTZ39	M1LM34	P1YC34

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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

BOTZ39	+ 0.96	SSFO34
P1YC34	+ 0.95	G2ME34
G2ME34	+ 0.94	SSFO34
BOTZ39	+ 0.93	G2ME34
P1YC34	+ 0.91	SSFO34
P1YC34	+ 0.9	BOTZ39

High negative correlations

A1MT34	- 0.62	G2ME34
A1MT34	- 0.57	SSFO34
P1YC34	- 0.55	A1MT34
BOTZ39	- 0.49	A1MT34
A1MT34	- 0.42	HOME34
M1LM34	- 0.36	A1MT34

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
SSFO34	1.66	0.52	0.26	(2.15)	1.44	(1.95)	4.08	(3.54)	14.34
HOME34	1.15	0.19	0.11	(1.90)	1.35	(1.17)	2.43	(2.24)	7.87
G2ME34	1.17	0.36	0.16	(2.20)	1.09	(1.72)	3.17	(3.02)	11.20
A1MT34	2.08	(0.12)	0.00	0.47	0.00	0.00	4.00	(4.69)	13.94
VERZ34	1.14	0.05	0.02	(0.59)	1.64	(1.17)	2.49	(3.11)	7.22
BOTZ39	1.19	0.25	0.13	(1.05)	1.36	(1.36)	2.62	(2.03)	9.82
M1LM34	0.00	(0.01)	0.00	5.53	0.00	0.00	0.00	0.00	0.11
P1YC34	1.75	0.47	0.10	1.30	1.75	(3.13)	4.73	(2.85)	36.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Melco Resorts without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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