MGM vs RSP: Correlation
Measured on weekly returns over the past three years, MGM Resorts (MGM) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and RSP?
Across a 3-year window, the weekly returns of MGM and RSP correlate at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.56 over 3 years. Stretching to 5 years gives 0.65, with an annualized covariance of 262.0 %².
Within MGM's tracked universe of 41 assets, RSP comes in at #8 by 3-year correlation. On 12-month performance RSP holds a 11.2-point edge, +8.0% against +19.2%. On a rolling one-year basis the correlation drifted between 0.38 and 0.81, a moderate band. One caveat on sizing: MGM is 2.7 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 RSP: side by side
| MGM (MGM Resorts) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +8.0% | +19.2% |
| 5-year return | +0.8% | +53.9% |
| Volatility (ann.) | 35.2% | 13.2% |
| Beta vs S&P 500 | 1.18 | 0.77 |
| Max drawdown (3Y) | -46.0% | -17.8% |
| Market cap | $11.0B | – |
| P/E (trailing) | 26.4 | – |
| Dividend yield | 0.00% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Consumer Discretionary | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | MGM | RSP |
|---|---|---|
| 2022 | -25.3% | -11.6% |
| 2023 | +33.3% | +13.7% |
| 2024 | -22.4% | +12.8% |
| 2025 | +5.3% | +11.2% |
| 2026 | +17.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MGM represents 0.17% of RSP's portfolio, so part of any move in RSP is MGM itself, and the correlation between them is partly mechanical.
Are MGM and RSP good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MGM and RSP?
The MGM/RSP correlation stands at 0.56 on a 3-year window (1 year: 0.36, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for MGM?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mgm-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MGM correlations · RSP correlations
