CAF vs WYNN: Correlation
Morgan Stanley China A Share Fund Inc. (CAF) and Wynn Resorts (WYNN) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAF and WYNN?
Over the past 3 years, CAF and WYNN moved with a correlation of 0.43, which is moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.43). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 301.0 %².
By 3-year correlation, WYNN places #7 of the 14 assets tracked against CAF. Correlation aside, the last 12 months split them widely, with CAF ahead by 53.0 points (+29.7% versus -23.3%). One caveat on sizing: WYNN is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CAF vs WYNN: side by side
| CAF (Morgan Stanley China A Share Fund Inc.) | WYNN (Wynn Resorts) | |
|---|---|---|
| 1-year return | +29.7% | -23.3% |
| 5-year return | +4.1% | -2.9% |
| Volatility (ann.) | 20.4% | 34.7% |
| Beta vs S&P 500 | 0.48 | 0.88 |
| Max drawdown (3Y) | -26.3% | -37.8% |
| Market cap | $0.3B | $9.6B |
| P/E (trailing) | 4.6 | 22.4 |
| Dividend yield | 0.00% | 1.03% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | CAF | WYNN |
|---|---|---|
| 2022 | -30.4% | -3.0% |
| 2023 | -9.4% | +11.3% |
| 2024 | +0.3% | -4.4% |
| 2025 | +41.5% | +41.0% |
| 2026 | +9.7% | -21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAF and WYNN good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAF and WYNN?
As of 2026-08-27, the correlation of weekly returns between CAF and WYNN is 0.43 over 3 years, 0.06 over 1 year and 0.46 over 5 years.
Is WYNN a good diversifier for CAF?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/caf-vs-wynn.json
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Related comparisons
Hubs: CAF correlations · WYNN correlations
