Monarch Casino Correlations

MCRI Stock

USD 90.61 0.39 0.43%

The current 90-days correlation between Monarch Casino Resort and Full House Resorts is 0.15 (i.e., Average diversification). The correlation of Monarch Casino 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.

Monarch Casino Correlation With Market

Modest diversification

The correlation between Monarch Casino Resort and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monarch Casino Resort and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Monarch Casino Resort. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Monarch Stock

0.77	LTH	Life Time Group	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.71	XPOF	Xponential Fitness Earnings Call Today	Pair Corr
0.68	YUM	Yum Brands	Pair Corr
0.66	ESCA	Escalade Incorporated	Pair Corr
0.61	GPC	Genuine Parts	Pair Corr
0.8	MAT	Mattel Inc	Pair Corr
0.72	JAKK	JAKKS Pacific Earnings Call Today	Pair Corr
0.71	CPNG	Coupang LLC	Pair Corr
0.77	KO	Coca Cola Aggressive Push	Pair Corr
0.65	KOREF	KORE Mining	Pair Corr

Moving against Monarch Stock

0.63	FUN	Six Flags Entertainment	Pair Corr
0.62	SDA	SunCar Technology	Pair Corr
0.59	JOUT	Johnson Outdoors	Pair Corr
0.55	TSLA	Tesla Inc	Pair Corr
0.49	MODG	Callaway Golf Sell-off Trend	Pair Corr
0.34	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.33	GOLF	Acushnet Holdings Corp Earnings Call Today	Pair Corr
0.31	PPERF	Bank Mandiri Persero	Pair Corr
0.65	MRK	Merck Company Aggressive Push	Pair Corr

Related Correlations Analysis

	RRR	FLL	BALY	BVH	GDEN	CNTY	MLCO	PLYA	HGV	CZR
RRR		0.57	-0.49	0.0	0.74	0.32	0.34	-0.01	0.84	0.86	RRR
FLL	0.57		-0.57	0.0	0.49	-0.2	-0.34	0.49	0.54	0.41	FLL
BALY	-0.49	-0.57		0.0	-0.09	0.27	0.32	-0.48	-0.33	-0.25	BALY
BVH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BVH
GDEN	0.74	0.49	-0.09	0.0		0.46	0.34	-0.2	0.83	0.84	GDEN
CNTY	0.32	-0.2	0.27	0.0	0.46		0.63	-0.89	0.33	0.64	CNTY
MLCO	0.34	-0.34	0.32	0.0	0.34	0.63		-0.67	0.24	0.54	MLCO
PLYA	-0.01	0.49	-0.48	0.0	-0.2	-0.89	-0.67		-0.04	-0.36	PLYA
HGV	0.84	0.54	-0.33	0.0	0.83	0.33	0.24	-0.04		0.83	HGV
CZR	0.86	0.41	-0.25	0.0	0.84	0.64	0.54	-0.36	0.83		CZR
	RRR	FLL	BALY	BVH	GDEN	CNTY	MLCO	PLYA	HGV	CZR

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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

CZR	+ 0.86	RRR
HGV	+ 0.84	RRR
CZR	+ 0.84	GDEN
HGV	+ 0.83	GDEN
CZR	+ 0.83	HGV
GDEN	+ 0.74	RRR

High negative correlations

PLYA	- 0.89	CNTY
PLYA	- 0.67	MLCO
BALY	- 0.57	FLL
BALY	- 0.49	RRR
PLYA	- 0.48	BALY
CZR	- 0.36	PLYA

Risk-Adjusted Indicators

There is a big difference between Monarch Stock performing well and Monarch Casino 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 Monarch Casino'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	1.19	0.02	0.01	0.03	1.74	(1.16)	2.96	(2.63)	8.45
FLL	2.03	0.10	0.04	0.25	2.38	(2.42)	4.18	(4.18)	20.31
BALY	1.30	(0.19)	0.00	1.44	0.00	0.00	2.61	(6.23)	17.67
BVH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GDEN	1.12	(0.12)	0.00	(0.17)	0.00	0.00	2.10	(2.71)	8.59
CNTY	2.30	(0.55)	0.00	(1.26)	0.00	0.00	4.72	(6.01)	16.02
MLCO	2.23	(0.08)	0.00	(0.10)	0.00	0.00	4.55	(4.66)	13.37
PLYA	1.47	0.56	0.38	0.53	0.80	(1.83)	2.72	(1.84)	31.78
HGV	1.36	(0.03)	0.00	(0.03)	0.00	0.00	2.65	(2.33)	10.85
CZR	1.58	(0.06)	0.00	(0.05)	0.00	0.00	2.71	(3.24)	15.59

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