CCL vs MGM: Correlation
Carnival Corporation (CCL) and MGM Resorts (MGM) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and MGM?
Across a 3-year window, the weekly returns of CCL and MGM correlate at 0.46, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.46). Stretching to 5 years gives 0.53, with an annualized covariance of 753.8 %².
Among the 40 assets we track against CCL, MGM ranks #24 by 3-year correlation. The last year tells two different stories: MGM led by 29.6 percentage points, -21.6% for CCL against +8.0% for MGM. The rolling one-year correlation stayed in a tight band between 0.34 and 0.57 over the past three years, which points to a structural rather than episodic relationship.
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.
CCL vs MGM: side by side
| CCL (Carnival Corporation) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | -21.6% | +8.0% |
| 5-year return | +7.3% | +0.8% |
| Volatility (ann.) | 46.5% | 35.2% |
| Beta vs S&P 500 | 1.72 | 1.18 |
| Max drawdown (3Y) | -42.3% | -46.0% |
| Market cap | $34.2B | $11.0B |
| P/E (trailing) | 11.5 | 26.4 |
| Dividend yield | 1.17% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CCL | MGM |
|---|---|---|
| 2022 | -59.9% | -25.3% |
| 2023 | +130.0% | +33.3% |
| 2024 | +34.4% | -22.4% |
| 2025 | +22.6% | +5.3% |
| 2026 | -17.0% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and MGM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CCL and MGM?
As of 2026-08-27, the correlation of weekly returns between CCL and MGM is 0.46 over 3 years, 0.31 over 1 year and 0.53 over 5 years.
Is MGM a good diversifier for CCL?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/ccl-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccl-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCL correlations · MGM correlations
