Golden Entertainment Correlations

GDEN Stock

USD 33.26 0.02 0.06%

The current 90-days correlation between Golden Entertainment and Red Rock Resorts is 0.55 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Golden Entertainment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Entertainment moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Golden Entertainment Correlation With Market

Very weak diversification

The correlation between Golden Entertainment and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Entertainment and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Golden Entertainment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

To learn how to invest in Golden Stock, please use our How to Invest in Golden Entertainment guide.

Moving together with Golden Stock

0.74	GAMB	Gambling Group	Pair Corr
0.63	LIND	Lindblad Expeditions Potential Growth	Pair Corr
0.65	ACEL	Accel Entertainment	Pair Corr
0.7	BROS	Dutch Bros	Pair Corr

Moving against Golden Stock

0.58	PTLO	Portillos	Pair Corr
0.4	QSR	Restaurant Brands	Pair Corr
0.36	PZZA	Papa Johns International	Pair Corr
0.34	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.33	WEN	The Wendys	Pair Corr
0.53	HMC	Honda Motor	Pair Corr
0.4	CDRO	Codere Online Corp	Pair Corr

Related Correlations Analysis

	RRR	CNTY	MSC	BALY	MCRI	MLCO	BVH	CZR	HGV	FLL
RRR		-0.61	-0.07	-0.67	-0.5	-0.12	-0.61	-0.06	-0.38	0.36	RRR
CNTY	-0.61		0.0	0.88	0.91	-0.05	0.86	-0.22	0.86	-0.27	CNTY
MSC	-0.07	0.0		0.24	0.14	0.8	0.13	0.45	-0.16	-0.09	MSC
BALY	-0.67	0.88	0.24		0.83	0.25	0.82	0.07	0.73	-0.31	BALY
MCRI	-0.5	0.91	0.14	0.83		0.04	0.74	-0.18	0.85	-0.34	MCRI
MLCO	-0.12	-0.05	0.8	0.25	0.04		0.15	0.8	-0.24	0.14	MLCO
BVH	-0.61	0.86	0.13	0.82	0.74	0.15		0.05	0.71	-0.23	BVH
CZR	-0.06	-0.22	0.45	0.07	-0.18	0.8	0.05		-0.29	0.26	CZR
HGV	-0.38	0.86	-0.16	0.73	0.85	-0.24	0.71	-0.29		-0.38	HGV
FLL	0.36	-0.27	-0.09	-0.31	-0.34	0.14	-0.23	0.26	-0.38		FLL
	RRR	CNTY	MSC	BALY	MCRI	MLCO	BVH	CZR	HGV	FLL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MCRI	+ 0.91	CNTY
BALY	+ 0.88	CNTY
BVH	+ 0.86	CNTY
HGV	+ 0.86	CNTY
HGV	+ 0.85	MCRI
MCRI	+ 0.83	BALY

High negative correlations

BALY	- 0.67	RRR
BVH	- 0.61	RRR
CNTY	- 0.61	RRR
MCRI	- 0.5	RRR
FLL	- 0.38	HGV
HGV	- 0.38	RRR

Risk-Adjusted Indicators

There is a big difference between Golden Stock performing well and Golden Entertainment Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Golden Entertainment's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RRR	1.46	(0.33)	0.00	(0.11)	0.00	0.00	2.69	(3.09)	12.47
CNTY	3.00	0.96	0.26	4.87	2.52	(3.68)	7.30	(4.88)	17.01
MSC	3.26	0.24	0.03	1.54	3.99	(4.42)	8.94	(6.51)	29.65
BALY	0.23	0.03	(0.27)	0.33	0.00	(0.32)	0.52	(0.40)	1.32
MCRI	0.90	0.11	0.07	0.26	0.89	(1.04)	1.87	(1.82)	7.86
MLCO	2.36	0.15	0.05	0.28	2.59	(2.78)	5.17	(5.54)	22.74
BVH	2.02	0.32	0.08	1.16	2.76	(2.21)	5.30	(3.44)	15.57
CZR	1.79	(0.13)	(0.03)	0.03	2.38	(1.78)	4.33	(3.56)	14.60
HGV	1.69	(0.03)	0.01	0.10	1.93	(1.79)	3.51	(3.03)	12.58
FLL	1.48	(0.19)	0.00	(0.05)	0.00	0.00	3.46	(2.99)	12.48

Golden Entertainment Corporate Executives

Elected by the shareholders, the Golden Entertainment's board of directors comprises two types of representatives: Golden Entertainment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Golden. The board's role is to monitor Golden Entertainment's management team and ensure that shareholders' interests are well served. Golden Entertainment's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Golden Entertainment's outside directors are responsible for providing unbiased perspectives on the board's policies.

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