KEY vs MGM: Correlation
KeyCorp (KEY) and MGM Resorts (MGM) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEY and MGM?
Over the past 3 years, KEY and MGM moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 631.3 %².
By 3-year correlation, MGM places #44 of the 59 assets tracked against KEY. Over the last 12 months KEY came out ahead by 10.4 percentage points (+18.4% against +8.0%). The rolling one-year correlation moved between 0.47 and 0.75 over the past three years, a moderate range.
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.
KEY vs MGM: side by side
| KEY (KeyCorp) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | +18.4% | +8.0% |
| 5-year return | +38.0% | +0.8% |
| Volatility (ann.) | 32.1% | 35.2% |
| Beta vs S&P 500 | 1.25 | 1.18 |
| Max drawdown (3Y) | -32.2% | -46.0% |
| Market cap | $23.5B | $11.0B |
| P/E (trailing) | 13.0 | 26.4 |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Financials | Consumer Discretionary |
Year-by-year returns
| Year | KEY | MGM |
|---|---|---|
| 2022 | -21.7% | -25.3% |
| 2023 | -11.5% | +33.3% |
| 2024 | +25.3% | -22.4% |
| 2025 | +26.2% | +5.3% |
| 2026 | +8.8% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEY and MGM good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KEY and MGM?
As of 2026-08-27, the correlation of weekly returns between KEY and MGM is 0.56 over 3 years, 0.50 over 1 year and 0.51 over 5 years.
Is MGM a good diversifier for KEY?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/key-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/key-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KEY correlations · MGM correlations
