MGM vs OCS: Correlation
Measured on weekly returns over the past three years, MGM Resorts (MGM) and Oculis Holding AG (OCS) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and OCS?
On 3 years of weekly data the MGM/OCS correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.16 over 3 years. The 5-year figure is -0.09, and annualized covariance runs at -324.0 %².
Among the 41 assets we track against MGM, OCS ranks #35 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MGM outperformed by 36.3 percentage points (+8.0% for MGM against -28.3% for OCS). Note the risk asymmetry: OCS runs 1.6 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.
MGM vs OCS: side by side
| MGM (MGM Resorts) | OCS (Oculis Holding AG) | |
|---|---|---|
| 1-year return | +8.0% | -28.3% |
| 5-year return | +0.8% | +28.5% |
| Volatility (ann.) | 35.2% | 57.7% |
| Beta vs S&P 500 | 1.18 | 0.76 |
| Max drawdown (3Y) | -46.0% | -67.2% |
| Market cap | $11.0B | $0.7B |
| P/E (trailing) | 26.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | MGM | OCS |
|---|---|---|
| 2022 | -25.3% | +4.2% |
| 2023 | +33.3% | +11.2% |
| 2024 | -22.4% | +51.4% |
| 2025 | +5.3% | +17.5% |
| 2026 | +17.8% | -37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and OCS good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGM and OCS?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.41 over the last year and -0.09 over 5 years.
Is OCS a good diversifier for MGM?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
A reading of -0.16 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/mgm-vs-ocs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mgm-vs-ocs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGM correlations · OCS correlations
