CZR vs MGM: Correlation
How closely do Caesars Entertainment, Inc. (CZR) and MGM Resorts (MGM) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZR and MGM?
Across a 3-year window, the weekly returns of CZR and MGM correlate at 0.66, strong. The link has loosened recently: the 1-year correlation (0.47) runs below the 3-year figure (0.66). Stretching to 5 years gives 0.72, with an annualized covariance of 969.8 %².
Few assets follow CZR as closely as MGM, which ranks #2 of 13 tracked partners. Their 12-month results are close: +9.9% for CZR 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.
CZR vs MGM: side by side
| CZR (Caesars Entertainment, Inc.) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | +9.9% | +8.0% |
| 5-year return | -71.0% | +0.8% |
| Volatility (ann.) | 41.8% | 35.2% |
| Beta vs S&P 500 | 1.43 | 1.18 |
| Max drawdown (3Y) | -67.5% | -46.0% |
| Market cap | $6.0B | $11.0B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | CZR | MGM |
|---|---|---|
| 2022 | -55.5% | -25.3% |
| 2023 | +12.7% | +33.3% |
| 2024 | -28.7% | -22.4% |
| 2025 | -30.0% | +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 CZR and MGM good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CZR and MGM?
As of 2026-08-27, the correlation of weekly returns between CZR and MGM is 0.66 over 3 years, 0.47 over 1 year and 0.72 over 5 years.
Is MGM a good diversifier for CZR?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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/czr-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/czr-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CZR correlations · MGM correlations
