MGM vs OMCL: Correlation
Measured on weekly returns over the past three years, MGM Resorts (MGM) and Omnicell, Inc. (OMCL) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and OMCL?
Across a 3-year window, the weekly returns of MGM and OMCL correlate at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. Stretching to 5 years gives 0.01, with an annualized covariance of -305.4 %².
Among the 41 assets we track against MGM, OMCL sits near the bottom by co-movement, at rank #37. The trailing year gives MGM the advantage: +8.0% versus +0.5%, a 7.5-point spread.
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 OMCL: side by side
| MGM (MGM Resorts) | OMCL (Omnicell, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | +0.5% |
| 5-year return | +0.8% | -78.5% |
| Volatility (ann.) | 35.2% | 49.5% |
| Beta vs S&P 500 | 1.18 | 0.53 |
| Max drawdown (3Y) | -46.0% | -58.4% |
| Market cap | $11.0B | $1.5B |
| P/E (trailing) | 26.4 | 39.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | MGM | OMCL |
|---|---|---|
| 2022 | -25.3% | -72.1% |
| 2023 | +33.3% | -25.4% |
| 2024 | -22.4% | +18.3% |
| 2025 | +5.3% | +1.8% |
| 2026 | +17.8% | -26.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and OMCL good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGM and OMCL?
As of 2026-08-27, the correlation of weekly returns between MGM and OMCL is -0.18 over 3 years, -0.12 over 1 year and 0.01 over 5 years.
Is OMCL a good diversifier for MGM?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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
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Related comparisons
Hubs: MGM correlations · OMCL correlations
