MGM vs PAPL: Correlation
Measured on weekly returns over the past three years, MGM Resorts (MGM) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and PAPL?
Over the past 3 years, MGM and PAPL moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.16 over 1 year against -0.17 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1089.4 %².
Among the 41 assets we track against MGM, PAPL ranks #36 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MGM outperformed by 78.7 percentage points (+8.0% for MGM against -70.7% for PAPL). One caveat on sizing: PAPL is 5.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PAPL: side by side
| MGM (MGM Resorts) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +8.0% | -70.7% |
| 5-year return | +0.8% | n/a |
| Volatility (ann.) | 35.2% | 181.2% |
| Beta vs S&P 500 | 1.18 | -0.73 |
| Max drawdown (3Y) | -46.0% | -99.4% |
| Market cap | $11.0B | – |
| P/E (trailing) | 26.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | MGM | PAPL |
|---|---|---|
| 2022 | -25.3% | – |
| 2023 | +33.3% | – |
| 2024 | -22.4% | -74.7% |
| 2025 | +5.3% | -84.4% |
| 2026 | +17.8% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and PAPL good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGM and PAPL?
The MGM/PAPL correlation stands at -0.17 on a 3-year window (1 year: -0.16, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PAPL a good diversifier for MGM?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 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/mgm-vs-papl.json
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[](https://www.pairbook.io/pair/mgm-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGM correlations · PAPL correlations
