BYD vs MGM: Correlation
Boyd Gaming Corporation (BYD) and MGM Resorts (MGM) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BYD and MGM?
Over the past 3 years, BYD and MGM moved with a correlation of 0.59, which is moderate. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.59). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 523.1 %².
MGM is one of the assets that tracks BYD most closely: it ranks #2 out of the 11 assets we track against BYD. The last year tells two different stories: MGM led by 16.0 percentage points, -8.0% for BYD against +8.0% for MGM.
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.
BYD vs MGM: side by side
| BYD (Boyd Gaming Corporation) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | -8.0% | +8.0% |
| 5-year return | +34.3% | +0.8% |
| Volatility (ann.) | 25.2% | 35.2% |
| Beta vs S&P 500 | 0.73 | 1.18 |
| Max drawdown (3Y) | -25.6% | -46.0% |
| Market cap | $5.8B | $11.0B |
| P/E (trailing) | 3.6 | 26.4 |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | BYD | MGM |
|---|---|---|
| 2022 | -15.9% | -25.3% |
| 2023 | +16.0% | +33.3% |
| 2024 | +17.1% | -22.4% |
| 2025 | +18.6% | +5.3% |
| 2026 | -6.1% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BYD and MGM good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BYD and MGM?
The BYD/MGM correlation stands at 0.59 on a 3-year window (1 year: 0.48, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is MGM a good diversifier for BYD?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/byd-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/byd-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BYD correlations · MGM correlations
