MGM China Correlations

MCHVF Stock

USD 1.58 0.21 15.33%

The current 90-days correlation between MGM China Holdings and Nagacorp is -0.08 (i.e., Good diversification). The correlation of MGM China 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.

MGM China Correlation With Market

Good diversification

The correlation between MGM China Holdings and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGM China Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MGM China could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MGM China 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 MGM China - 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 MGM China Holdings to buy it.

Moving together with MGM Pink Sheet

0.72	CCI	Crown Castle	Pair Corr
0.67	RDUS	Schnitzer Steel Indu	Pair Corr

Moving against MGM Pink Sheet

0.46	KB	KB Financial Group	Pair Corr
0.4	PPERY	Bank Mandiri Persero	Pair Corr
0.39	BKRKY	Bank Rakyat	Pair Corr
0.38	SHG	Shinhan Financial	Pair Corr
0.35	SCHYF	Sands China	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.32	GXYEF	Galaxy Entertainment	Pair Corr
0.32	PBCRY	Bank Central Asia	Pair Corr
0.48	SEVCD	Sono Group NV Trending	Pair Corr
0.33	VEON	VEON	Pair Corr
0.59	MSW	Ming Shing Group	Pair Corr

Related Correlations Analysis

	BYNEF	NGCRF	WYNMF	TBTC	SKYZF	MGM	LVS	CNTY
BYNEF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	BYNEF
NGCRF	0.0		0.06	-0.23	0.55	-0.31	0.34	-0.19	NGCRF
WYNMF	0.0	0.06		0.02	-0.22	-0.21	-0.04	0.03	WYNMF
TBTC	0.0	-0.23	0.02		-0.25	0.49	-0.41	0.26	TBTC
SKYZF	0.0	0.55	-0.22	-0.25		0.09	0.49	0.16	SKYZF
MGM	0.0	-0.31	-0.21	0.49	0.09		0.1	0.55	MGM
LVS	0.0	0.34	-0.04	-0.41	0.49	0.1		0.54	LVS
CNTY	0.0	-0.19	0.03	0.26	0.16	0.55	0.54		CNTY
	BYNEF	NGCRF	WYNMF	TBTC	SKYZF	MGM	LVS	CNTY

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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

SKYZF	+ 0.55	NGCRF
CNTY	+ 0.55	MGM
CNTY	+ 0.54	LVS
MGM	+ 0.49	TBTC
LVS	+ 0.49	SKYZF
LVS	+ 0.34	NGCRF

High negative correlations

LVS	- 0.41	TBTC
MGM	- 0.31	NGCRF
SKYZF	- 0.25	TBTC
TBTC	- 0.23	NGCRF
SKYZF	- 0.22	WYNMF
MGM	- 0.21	WYNMF

Risk-Adjusted Indicators

There is a big difference between MGM Pink Sheet performing well and MGM China 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 MGM China'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
BYNEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NGCRF	1.80	0.41	0.00	1.74	0.00	0.00	7.14	(5.26)	19.35
WYNMF	2.46	0.01	0.00	(0.04)	0.00	0.00	6.15	(7.35)	26.78
TBTC	2.50	0.28	0.06	0.29	4.10	(2.32)	4.78	(5.99)	22.45
SKYZF	0.56	(0.24)	0.00	(0.33)	0.00	0.00	0.00	0.00	17.39
MGM	1.74	(0.09)	0.00	(0.13)	0.00	0.00	2.38	(4.37)	23.46
LVS	1.73	(0.33)	0.00	(1.06)	0.00	0.00	2.22	(3.99)	16.07
CNTY	2.75	(1.00)	0.00	(1.30)	0.00	0.00	5.32	(6.40)	30.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in MGM China 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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