Sands China Correlations

SCHYY Stock

USD 22.05 0.81 3.54%

The correlation of Sands 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Sands China Correlation With Market

Significant diversification

The correlation between Sands China Ltd and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sands China Ltd and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sands 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 Sands 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 Sands 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 Sands China Ltd to buy it.

Moving together with Sands Pink Sheet

0.95	LVS	Las Vegas Sands	Pair Corr
0.84	GXYYY	Galaxy Entertainment	Pair Corr
0.82	SCHYF	Sands China	Pair Corr
0.66	PBCRY	Bank Central Asia	Pair Corr

Moving against Sands Pink Sheet

0.85	SPH	Suburban Propane Partners	Pair Corr
0.73	ALMTF	Almonty Industries	Pair Corr
0.71	VEON	VEON	Pair Corr
0.7	ORI	Old Republic Interna	Pair Corr
0.69	RBC	RBC Bearings	Pair Corr
0.68	CHKP	Check Point Software	Pair Corr
0.61	MPW	Medical Properties Trust	Pair Corr
0.61	BEST	BEST Inc	Pair Corr
0.56	WF	Woori Financial Group	Pair Corr
0.45	SEVCD	Sono Group NV Trending	Pair Corr
0.85	EPD	Enterprise Products	Pair Corr
0.82	BB	BlackBerry	Pair Corr
0.8	SATS	EchoStar	Pair Corr
0.76	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	SJMHY	MSC	MCRI	PLYA	LVS	MGM	CZR	WYNN	RRR	MLCO
SJMHY		0.7	-0.76	-0.56	0.59	-0.14	0.0	-0.09	-0.48	0.07	SJMHY
MSC	0.7		-0.64	-0.8	0.82	0.18	0.27	0.19	-0.22	0.5	MSC
MCRI	-0.76	-0.64		0.44	-0.54	0.47	0.34	0.26	0.78	0.08	MCRI
PLYA	-0.56	-0.8	0.44		-0.74	-0.1	-0.25	-0.29	0.17	-0.64	PLYA
LVS	0.59	0.82	-0.54	-0.74		0.15	0.08	0.47	-0.25	0.64	LVS
MGM	-0.14	0.18	0.47	-0.1	0.15		0.84	0.36	0.8	0.53	MGM
CZR	0.0	0.27	0.34	-0.25	0.08	0.84		0.11	0.77	0.41	CZR
WYNN	-0.09	0.19	0.26	-0.29	0.47	0.36	0.11		0.28	0.74	WYNN
RRR	-0.48	-0.22	0.78	0.17	-0.25	0.8	0.77	0.28		0.3	RRR
MLCO	0.07	0.5	0.08	-0.64	0.64	0.53	0.41	0.74	0.3		MLCO
	SJMHY	MSC	MCRI	PLYA	LVS	MGM	CZR	WYNN	RRR	MLCO

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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	+ 0.84	MGM
LVS	+ 0.82	MSC
RRR	+ 0.8	MGM
RRR	+ 0.78	MCRI
RRR	+ 0.77	CZR
MLCO	+ 0.74	WYNN

High negative correlations

PLYA	- 0.8	MSC
MCRI	- 0.76	SJMHY
LVS	- 0.74	PLYA
MLCO	- 0.64	PLYA
MCRI	- 0.64	MSC
PLYA	- 0.56	SJMHY

Risk-Adjusted Indicators

There is a big difference between Sands Pink Sheet performing well and Sands 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 Sands 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
SJMHY	0.44	0.02	0.00	(0.21)	0.00	0.00	0.00	0.00	25.03
MSC	4.76	(0.59)	0.00	0.81	0.00	0.00	15.97	(8.75)	38.66
MCRI	1.15	(0.03)	0.00	(0.12)	0.00	0.00	1.58	(2.91)	11.31
PLYA	1.27	0.50	0.41	0.63	0.64	(1.67)	2.32	(1.53)	31.78
LVS	1.69	(0.27)	0.00	(0.89)	0.00	0.00	2.22	(3.99)	16.07
MGM	1.71	(0.05)	0.00	(0.11)	0.00	0.00	2.38	(4.37)	23.46
CZR	1.86	(0.23)	0.00	(0.24)	0.00	0.00	3.49	(4.81)	15.59
WYNN	1.68	(0.09)	0.00	(0.20)	0.00	0.00	3.54	(3.22)	13.57
RRR	1.41	(0.02)	0.00	(0.09)	0.00	0.00	2.97	(3.28)	9.16
MLCO	2.20	(0.18)	0.00	(0.26)	0.00	0.00	4.55	(4.66)	13.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sands 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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Sands China Corporate Management

David Sylvester	Ex Retail	Profile
BSocSc GBS	Pres Director	Profile
Minqi CPA	CFO VP	Profile
Kwan Chum	Chief of Staff	Profile
Dylan Williams	Company Secretary	Profile

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