Penn National Correlations

PENN Stock

USD 14.53 0.24 1.68%

The current 90-days correlation between Penn National Gaming and DraftKings is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Penn National moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Penn National Gaming moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Penn National Correlation With Market

Poor diversification

The correlation between Penn National Gaming and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penn National Gaming and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Penn National Gaming. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Penn Stock

0.89	GAMB	Gambling Group	Pair Corr
0.87	INSE	Inspired Entertainment	Pair Corr
0.77	ACEL	Accel Entertainment	Pair Corr
0.83	CPHC	Canterbury Park Holding	Pair Corr
0.94	DIBS	1StdibsCom	Pair Corr
0.88	HD	Home Depot	Pair Corr
0.71	DORM	Dorman Products	Pair Corr
0.82	AXL	American Axle Manufa	Pair Corr
0.94	BBY	Best Buy	Pair Corr
0.67	BLD	Topbuild Corp	Pair Corr
0.76	FOXF	Fox Factory Holding	Pair Corr
0.64	DAN	Dana Inc	Pair Corr
0.91	SMP	Standard Motor Products	Pair Corr
0.62	GNTX	Gentex	Pair Corr
0.82	HOUR	Hour Loop	Pair Corr
0.75	ISPOW	Thayer Ventures Acqu	Pair Corr
0.73	MNRO	Monro Muffler Brake	Pair Corr
0.69	PSNYW	Polestar Automotive	Pair Corr
0.78	AYRO	AYRO Inc	Pair Corr
0.89	SWBI	Smith Wesson Brands	Pair Corr
0.68	BZUN	Baozun Inc	Pair Corr

Moving against Penn Stock

0.42	MCD	McDonalds	Pair Corr
0.54	RGR	Sturm Ruger	Pair Corr
0.43	AFYA	Afya	Pair Corr
0.32	MPAA	Motorcar Parts	Pair Corr
0.37	HSY	Hershey	Pair Corr

Related Correlations Analysis

	DKNG	MGM	CZR	BYD	WYNN
DKNG		0.89	0.83	0.84	0.68	DKNG
MGM	0.89		0.9	0.89	0.66	MGM
CZR	0.83	0.9		0.98	0.47	CZR
BYD	0.84	0.89	0.98		0.55	BYD
WYNN	0.68	0.66	0.47	0.55		WYNN
	DKNG	MGM	CZR	BYD	WYNN

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Risk-Adjusted Indicators

There is a big difference between Penn Stock performing well and Penn National 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 Penn National'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DKNG	2.95	(0.09)	0.25	5.11	(5.89)	22.98
MGM	2.25	0.04	(0.05)	3.18	(4.37)	26.73
CZR	2.43	(0.17)	(0.17)	5.66	(5.27)	24.96
BYD	1.51	(0.05)	(0.12)	2.71	(3.88)	15.91
WYNN	2.07	0.01	(0.07)	4.10	(3.83)	21.00

Penn National Corporate Management

Todd George	Executive Operations	Profile
Richard Primus	Senior Officer	Profile
Aaron Rosenthal	Senior Operations	Profile
Eric Schippers	Senior Foundation	Profile
Benjamin Levy	Head Interactive	Profile
Jennifer Weissman	Senior Officer	Profile

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