MCRI vs PENN: Correlation
How closely do Monarch Casino & Resort, Inc. (MCRI) and PENN Entertainment, Inc. (PENN) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCRI and PENN?
Over the past 3 years, MCRI and PENN moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 595.1 %².
PENN is one of the assets that tracks MCRI most closely: it ranks #2 out of the 11 assets we track against MCRI. The last year tells two different stories: MCRI led by 31.6 percentage points, +18.6% for MCRI against -13.0% for PENN. Risk is not evenly split, since PENN carries 1.7 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.
MCRI vs PENN: side by side
| MCRI (Monarch Casino & Resort, Inc.) | PENN (PENN Entertainment, Inc.) | |
|---|---|---|
| 1-year return | +18.6% | -13.0% |
| 5-year return | +113.4% | -78.7% |
| Volatility (ann.) | 27.2% | 47.0% |
| Beta vs S&P 500 | 0.65 | 1.50 |
| Max drawdown (3Y) | -23.1% | -55.8% |
| Market cap | $2.2B | $2.3B |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCRI | PENN |
|---|---|---|
| 2022 | +4.0% | -42.7% |
| 2023 | -2.6% | -12.4% |
| 2024 | +16.0% | -23.8% |
| 2025 | +22.9% | -25.6% |
| 2026 | +29.9% | +17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCRI and PENN good diversifiers for each other?
Reasonably. At 0.47, MCRI and PENN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MCRI and PENN?
The MCRI/PENN correlation stands at 0.47 on a 3-year window (1 year: 0.44, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is PENN a good diversifier for MCRI?
Reasonably. At 0.47, MCRI and PENN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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-penn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mcri-vs-penn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MCRI correlations · PENN correlations
