MGM vs STRT: Correlation
How closely do MGM Resorts (MGM) and STRATTEC SECURITY CORPORATION (STRT) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and STRT?
Over the past 3 years, MGM and STRT moved with a correlation of 0.38, which is moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.38 over 3. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 747.9 %².
Within MGM's tracked universe of 41 assets, STRT comes in at #30 by 3-year correlation. Neither side won the trailing year by much: +8.0% against +5.2%. Note the risk asymmetry: STRT 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 STRT: side by side
| MGM (MGM Resorts) | STRT (STRATTEC SECURITY CORPORATION) | |
|---|---|---|
| 1-year return | +8.0% | +5.2% |
| 5-year return | +0.8% | +89.4% |
| Volatility (ann.) | 35.2% | 56.1% |
| Beta vs S&P 500 | 1.18 | 1.15 |
| Max drawdown (3Y) | -46.0% | -36.8% |
| Market cap | $11.0B | $0.3B |
| P/E (trailing) | 26.4 | 14.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | MGM | STRT |
|---|---|---|
| 2022 | -25.3% | -44.5% |
| 2023 | +33.3% | +23.3% |
| 2024 | -22.4% | +62.6% |
| 2025 | +5.3% | +84.8% |
| 2026 | +17.8% | -7.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and STRT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MGM and STRT?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.41 over the last year and 0.31 over 5 years.
Is STRT a good diversifier for MGM?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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.
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Related comparisons
Hubs: MGM correlations · STRT correlations
