MCRI vs OPEN: Correlation
Measured on weekly returns over the past three years, Monarch Casino & Resort, Inc. (MCRI) and Opendoor Technologies Inc (OPEN) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCRI and OPEN?
Across a 3-year window, the weekly returns of MCRI and OPEN correlate at 0.49, moderate. The past 12 months show a weaker link (0.01) than the 3-year average (0.49). Stretching to 5 years gives 0.40, with an annualized covariance of 1920.4 %².
OPEN is one of the assets that tracks MCRI most closely: it ranks #1 out of the 11 assets we track against MCRI. Correlation aside, the last 12 months split them widely, with MCRI ahead by 34.5 points (+18.6% versus -15.9%). Note the risk asymmetry: OPEN runs 5.4 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.
MCRI vs OPEN: side by side
| MCRI (Monarch Casino & Resort, Inc.) | OPEN (Opendoor Technologies Inc) | |
|---|---|---|
| 1-year return | +18.6% | -15.9% |
| 5-year return | +113.4% | -80.8% |
| Volatility (ann.) | 27.2% | 145.6% |
| Beta vs S&P 500 | 0.65 | 2.46 |
| Max drawdown (3Y) | -23.1% | -89.2% |
| Market cap | $2.2B | $3.3B |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCRI | OPEN |
|---|---|---|
| 2022 | +4.0% | -92.1% |
| 2023 | -2.6% | +286.2% |
| 2024 | +16.0% | -64.3% |
| 2025 | +22.9% | +264.4% |
| 2026 | +29.9% | -42.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCRI and OPEN good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MCRI and OPEN?
As of 2026-08-27, the correlation of weekly returns between MCRI and OPEN is 0.49 over 3 years, 0.01 over 1 year and 0.40 over 5 years.
Is OPEN a good diversifier for MCRI?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mcri-vs-open.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mcri-vs-open/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MCRI correlations · OPEN correlations
