GM vs MGM: Correlation
How closely do General Motors (GM) and MGM Resorts (MGM) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GM and MGM?
Across a 3-year window, the weekly returns of GM and MGM correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 462.4 %².
Among the 35 assets we track against GM, MGM ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GM ahead by 40.0 points (+48.0% versus +8.0%). Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.65.
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.
GM vs MGM: side by side
| GM (General Motors) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | +48.0% | +8.0% |
| 5-year return | +82.5% | +0.8% |
| Volatility (ann.) | 32.2% | 35.2% |
| Beta vs S&P 500 | 0.98 | 1.18 |
| Max drawdown (3Y) | -29.1% | -46.0% |
| Market cap | $77.9B | $11.0B |
| P/E (trailing) | 38.6 | 26.4 |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | GM | MGM |
|---|---|---|
| 2022 | -42.4% | -25.3% |
| 2023 | +7.9% | +33.3% |
| 2024 | +49.8% | -22.4% |
| 2025 | +54.2% | +5.3% |
| 2026 | +6.5% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GM and MGM good diversifiers for each other?
Reasonably. At 0.41, GM and MGM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GM and MGM?
As of 2026-08-27, the correlation of weekly returns between GM and MGM is 0.41 over 3 years, 0.36 over 1 year and 0.47 over 5 years.
Is MGM a good diversifier for GM?
Reasonably. At 0.41, GM and MGM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GM correlations · MGM correlations
