BBOT vs MGM: Correlation
Measured on weekly returns over the past three years, BridgeBio Oncology Therapeutics, Inc. (BBOT) and MGM Resorts (MGM) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBOT and MGM?
Over the past 3 years, BBOT and MGM moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.21 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -254.5 %².
Within BBOT's tracked universe of 27 assets, MGM comes in at #14 by 3-year correlation. Over the last 12 months MGM came out ahead by 9.3 percentage points (-1.3% against +8.0%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BBOT vs MGM: side by side
| BBOT (BridgeBio Oncology Therapeutics, Inc.) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | -1.3% | +8.0% |
| 5-year return | n/a | +0.8% |
| Volatility (ann.) | 34.5% | 35.2% |
| Beta vs S&P 500 | 0.30 | 1.18 |
| Max drawdown (3Y) | -48.1% | -46.0% |
| Market cap | $0.7B | $11.0B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | BBOT | MGM |
|---|---|---|
| 2022 | – | -25.3% |
| 2023 | – | +33.3% |
| 2024 | – | -22.4% |
| 2025 | +19.2% | +5.3% |
| 2026 | -26.7% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBOT and MGM good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BBOT and MGM?
The BBOT/MGM correlation stands at -0.21 on a 3-year window (1 year: -0.35, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MGM a good diversifier for BBOT?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbot-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbot-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBOT correlations · MGM correlations
