Red Rock Correlations

RRR Stock

USD 44.25 0.68 1.51%

The current 90-days correlation between Red Rock Resorts and Ballys Corp is -0.25 (i.e., Very good diversification). The correlation of Red Rock 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.

Red Rock Correlation With Market

Good diversification

The correlation between Red Rock Resorts and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Red Rock Resorts and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Red Rock Resorts. 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 Red Stock

0.64	JAKK	JAKKS Pacific	Pair Corr
0.62	TSCO	Tractor Supply	Pair Corr

Moving against Red Stock

0.37	GOLF	Acushnet Holdings Corp	Pair Corr
0.66	HII	Huntington Ingalls Sell-off Trend	Pair Corr
0.37	ZBH	Zimmer Biomet Holdings	Pair Corr
0.37	RTMVF	Rightmove plc	Pair Corr

Related Correlations Analysis

	GDEN	CNTY	MSC	BALY	MCRI	FLL	BVH	CZR	PLYA	LVS
GDEN		0.81	0.27	0.02	0.22	0.65	0.0	0.92	-0.28	0.1	GDEN
CNTY	0.81		0.62	0.15	-0.06	0.27	0.0	0.78	-0.67	0.54	CNTY
MSC	0.27	0.62		0.48	-0.66	-0.32	0.0	0.26	-0.79	0.83	MSC
BALY	0.02	0.15	0.48		-0.49	-0.2	0.0	-0.04	-0.41	0.35	BALY
MCRI	0.22	-0.06	-0.66	-0.49		0.56	0.0	0.35	0.46	-0.63	MCRI
FLL	0.65	0.27	-0.32	-0.2	0.56		0.0	0.67	0.31	-0.53	FLL
BVH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	BVH
CZR	0.92	0.78	0.26	-0.04	0.35	0.67	0.0		-0.27	0.08	CZR
PLYA	-0.28	-0.67	-0.79	-0.41	0.46	0.31	0.0	-0.27		-0.73	PLYA
LVS	0.1	0.54	0.83	0.35	-0.63	-0.53	0.0	0.08	-0.73		LVS
	GDEN	CNTY	MSC	BALY	MCRI	FLL	BVH	CZR	PLYA	LVS

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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	+ 0.92	GDEN
LVS	+ 0.83	MSC
CNTY	+ 0.81	GDEN
CZR	+ 0.78	CNTY
CZR	+ 0.67	FLL
FLL	+ 0.65	GDEN

High negative correlations

PLYA	- 0.79	MSC
LVS	- 0.73	PLYA
PLYA	- 0.67	CNTY
MCRI	- 0.66	MSC
LVS	- 0.63	MCRI
LVS	- 0.53	FLL

Risk-Adjusted Indicators

There is a big difference between Red Stock performing well and Red Rock 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 Red Rock'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
GDEN	1.47	(0.26)	0.00	1.51	0.00	0.00	3.23	(3.29)	7.69
CNTY	2.75	(0.96)	0.00	(1.25)	0.00	0.00	5.32	(6.40)	30.49
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
MCRI	1.16	(0.06)	0.00	(0.17)	0.00	0.00	1.58	(2.91)	11.31
FLL	2.21	(0.01)	0.00	(0.09)	0.00	0.00	4.11	(4.57)	20.31
BVH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CZR	1.86	(0.33)	0.00	(1.61)	0.00	0.00	3.49	(4.81)	15.59
PLYA	1.26	0.51	0.42	0.65	0.63	(1.67)	2.32	(1.53)	31.78
LVS	1.69	(0.33)	0.00	0.77	0.00	0.00	2.22	(3.99)	16.07

Red Rock Corporate Management

Wes Allison	Chief Officer	Profile
Frank III	Chairman CEO	Profile
Scott Kreeger	President	Profile
Rodney Atamian	Exec Strategy	Profile

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