LVS vs MGM: Correlation
How closely do Las Vegas Sands (LVS) and MGM Resorts (MGM) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVS and MGM?
Across a 3-year window, the weekly returns of LVS and MGM correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 536.7 %².
Within LVS's tracked universe of 29 assets, MGM comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGM ahead by 28.3 points (-20.3% versus +8.0%). The rolling one-year correlation moved between 0.37 and 0.68 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.
LVS vs MGM: side by side
| LVS (Las Vegas Sands) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | -20.3% | +8.0% |
| 5-year return | +8.5% | +0.8% |
| Volatility (ann.) | 34.8% | 35.2% |
| Beta vs S&P 500 | 0.75 | 1.18 |
| Max drawdown (3Y) | -44.0% | -46.0% |
| Market cap | $28.7B | $11.0B |
| P/E (trailing) | 17.1 | 26.4 |
| Dividend yield | 2.49% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | LVS | MGM |
|---|---|---|
| 2022 | +27.7% | -25.3% |
| 2023 | +3.1% | +33.3% |
| 2024 | +6.2% | -22.4% |
| 2025 | +29.5% | +5.3% |
| 2026 | -30.8% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVS and MGM good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LVS and MGM?
The LVS/MGM correlation stands at 0.44 on a 3-year window (1 year: 0.40, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is MGM a good diversifier for LVS?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/lvs-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lvs-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LVS correlations · MGM correlations
