MGM vs TNL: Correlation
MGM Resorts (MGM) and Travel Leisure Co. (TNL) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGM and TNL?
On 3 years of weekly data the MGM/TNL correlation comes out at 0.55, moderate. The past 12 months show a weaker link (0.45) than the 3-year average (0.55). The 5-year figure is 0.61, and annualized covariance runs at 585.4 %².
Among the 41 assets we track against MGM, TNL ranks #14 by 3-year correlation. The trailing year gives TNL the advantage: +8.0% versus +19.2%, a 11.2-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 TNL: side by side
| MGM (MGM Resorts) | TNL (Travel Leisure Co.) | |
|---|---|---|
| 1-year return | +8.0% | +19.2% |
| 5-year return | +0.8% | +59.9% |
| Volatility (ann.) | 35.2% | 30.1% |
| Beta vs S&P 500 | 1.18 | 1.19 |
| Max drawdown (3Y) | -46.0% | -32.2% |
| Market cap | $11.0B | $4.4B |
| P/E (trailing) | 26.4 | 19.9 |
| Dividend yield | 0.00% | 3.15% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | MGM | TNL |
|---|---|---|
| 2022 | -25.3% | -31.7% |
| 2023 | +33.3% | +12.5% |
| 2024 | -22.4% | +34.8% |
| 2025 | +5.3% | +45.5% |
| 2026 | +17.8% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGM and TNL good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MGM and TNL?
The MGM/TNL correlation stands at 0.55 on a 3-year window (1 year: 0.45, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is TNL a good diversifier for MGM?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 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-tnl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mgm-vs-tnl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGM correlations · TNL correlations
