HLT vs MGM: Correlation
How closely do Hilton Worldwide (HLT) and MGM Resorts (MGM) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLT and MGM?
Over the past 3 years, HLT and MGM moved with a correlation of 0.46, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.46 over 3 years. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 339.0 %².
Among the 40 assets we track against HLT, MGM ranks #24 by 3-year correlation. On 12-month performance HLT holds a 10.1-point edge, +18.1% against +8.0%. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.72. Note the risk asymmetry: MGM runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HLT vs MGM: side by side
| HLT (Hilton Worldwide) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | +18.1% | +8.0% |
| 5-year return | +162.7% | +0.8% |
| Volatility (ann.) | 20.7% | 35.2% |
| Beta vs S&P 500 | 0.85 | 1.18 |
| Max drawdown (3Y) | -26.4% | -46.0% |
| Market cap | $73.3B | $11.0B |
| P/E (trailing) | 47.8 | 26.4 |
| Dividend yield | 0.18% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | HLT | MGM |
|---|---|---|
| 2022 | -18.7% | -25.3% |
| 2023 | +44.7% | +33.3% |
| 2024 | +36.1% | -22.4% |
| 2025 | +16.5% | +5.3% |
| 2026 | +13.5% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLT and MGM good diversifiers for each other?
Reasonably. At 0.46, HLT and MGM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HLT and MGM?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.33 over the last year and 0.59 over 5 years.
Is MGM a good diversifier for HLT?
Reasonably. At 0.46, HLT and MGM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlt-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlt-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLT correlations · MGM correlations
