MGM vs RCL: Correlation
Measured on weekly returns over the past three years, MGM Resorts (MGM) and Royal Caribbean Group (RCL) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and RCL?
Over the past 3 years, MGM and RCL moved with a correlation of 0.52, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.52 over 3 years. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 754.6 %².
Within MGM's tracked universe of 41 assets, RCL comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGM ahead by 27.3 points (+8.0% versus -19.3%). On a rolling one-year basis the correlation drifted between 0.35 and 0.67, a moderate band.
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 RCL: side by side
| MGM (MGM Resorts) | RCL (Royal Caribbean Group) | |
|---|---|---|
| 1-year return | +8.0% | -19.3% |
| 5-year return | +0.8% | +257.6% |
| Volatility (ann.) | 35.2% | 41.3% |
| Beta vs S&P 500 | 1.18 | 1.46 |
| Max drawdown (3Y) | -46.0% | -35.0% |
| Market cap | $11.0B | $76.2B |
| P/E (trailing) | 26.4 | 17.9 |
| Dividend yield | 0.00% | 1.72% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | MGM | RCL |
|---|---|---|
| 2022 | -25.3% | -35.7% |
| 2023 | +33.3% | +162.0% |
| 2024 | -22.4% | +79.0% |
| 2025 | +5.3% | +22.5% |
| 2026 | +17.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and RCL good diversifiers for each other?
Only partially. A correlation of 0.52 means MGM and RCL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MGM and RCL?
The MGM/RCL correlation stands at 0.52 on a 3-year window (1 year: 0.31, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is RCL a good diversifier for MGM?
Only partially. A correlation of 0.52 means MGM and RCL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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-rcl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgm-vs-rcl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGM correlations · RCL correlations
