LVS vs TDF: Correlation
How closely do Las Vegas Sands (LVS) and Templeton Dragon Fund, Inc. (TDF) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVS and TDF?
Over the past 3 years, LVS and TDF moved with a correlation of 0.43, which is moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.43). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 331.2 %².
Within LVS's tracked universe of 29 assets, TDF comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TDF outperformed by 23.7 percentage points (-20.3% for LVS against +3.4% for TDF). Risk is not evenly split, since LVS carries 1.6 times the volatility of the other side.
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 TDF: side by side
| LVS (Las Vegas Sands) | TDF (Templeton Dragon Fund, Inc.) | |
|---|---|---|
| 1-year return | -20.3% | +3.4% |
| 5-year return | +8.5% | -29.3% |
| Volatility (ann.) | 34.8% | 22.2% |
| Beta vs S&P 500 | 0.75 | 0.64 |
| Max drawdown (3Y) | -44.0% | -22.2% |
| Market cap | $28.7B | $0.3B |
| P/E (trailing) | 17.1 | 3.6 |
| Dividend yield | 2.49% | 3.68% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | LVS | TDF |
|---|---|---|
| 2022 | +27.7% | -32.9% |
| 2023 | +3.1% | -20.1% |
| 2024 | +6.2% | +5.5% |
| 2025 | +29.5% | +37.7% |
| 2026 | -30.8% | -1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVS and TDF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LVS and TDF?
As of 2026-08-27, the correlation of weekly returns between LVS and TDF is 0.43 over 3 years, 0.24 over 1 year and 0.47 over 5 years.
Is TDF a good diversifier for LVS?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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/lvs-vs-tdf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lvs-vs-tdf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LVS correlations · TDF correlations
