MCRI vs SPFI: Correlation
Monarch Casino & Resort, Inc. (MCRI) and South Plains Financial, Inc. (SPFI) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCRI and SPFI?
On 3 years of weekly data the MCRI/SPFI correlation comes out at 0.47, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.47). The 5-year figure is 0.34, and annualized covariance runs at 350.5 %².
SPFI is one of the assets that tracks MCRI most closely: it ranks #3 out of the 11 assets we track against MCRI. Over the last 12 months MCRI came out ahead by 10.9 percentage points (+18.6% against +7.7%).
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 SPFI: side by side
| MCRI (Monarch Casino & Resort, Inc.) | SPFI (South Plains Financial, Inc.) | |
|---|---|---|
| 1-year return | +18.6% | +7.7% |
| 5-year return | +113.4% | +108.3% |
| Volatility (ann.) | 27.2% | 27.6% |
| Beta vs S&P 500 | 0.65 | 0.61 |
| Max drawdown (3Y) | -23.1% | -23.8% |
| Market cap | $2.2B | $0.8B |
| P/E (trailing) | 19.9 | 11.9 |
| Dividend yield | 0.97% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCRI | SPFI |
|---|---|---|
| 2022 | +4.0% | +0.7% |
| 2023 | -2.6% | +7.4% |
| 2024 | +16.0% | +22.2% |
| 2025 | +22.9% | +13.6% |
| 2026 | +29.9% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCRI and SPFI good diversifiers for each other?
Reasonably. At 0.47, MCRI and SPFI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MCRI and SPFI?
The MCRI/SPFI correlation stands at 0.47 on a 3-year window (1 year: 0.15, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is SPFI a good diversifier for MCRI?
Reasonably. At 0.47, MCRI and SPFI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MCRI correlations · SPFI correlations
