LVS vs TNL: Correlation
How closely do Las Vegas Sands (LVS) and Travel Leisure Co. (TNL) 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 TNL?
On 3 years of weekly data the LVS/TNL correlation comes out at 0.44, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.44 over 3. The 5-year figure is 0.45, and annualized covariance runs at 460.7 %².
Within LVS's tracked universe of 29 assets, TNL comes in at #5 by 3-year correlation. The last year tells two different stories: TNL led by 39.5 percentage points, -20.3% for LVS against +19.2% for TNL.
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 TNL: side by side
| LVS (Las Vegas Sands) | TNL (Travel Leisure Co.) | |
|---|---|---|
| 1-year return | -20.3% | +19.2% |
| 5-year return | +8.5% | +59.9% |
| Volatility (ann.) | 34.8% | 30.1% |
| Beta vs S&P 500 | 0.75 | 1.19 |
| Max drawdown (3Y) | -44.0% | -32.2% |
| Market cap | $28.7B | $4.4B |
| P/E (trailing) | 17.1 | 19.9 |
| Dividend yield | 2.49% | 3.15% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | LVS | TNL |
|---|---|---|
| 2022 | +27.7% | -31.7% |
| 2023 | +3.1% | +12.5% |
| 2024 | +6.2% | +34.8% |
| 2025 | +29.5% | +45.5% |
| 2026 | -30.8% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVS and TNL good diversifiers for each other?
Reasonably. At 0.44, LVS and TNL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LVS and TNL?
As of 2026-08-27, the correlation of weekly returns between LVS and TNL is 0.44 over 3 years, 0.36 over 1 year and 0.45 over 5 years.
Is TNL a good diversifier for LVS?
Reasonably. At 0.44, LVS and TNL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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-tnl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lvs-vs-tnl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LVS correlations · TNL correlations
