Aggregated price index with volume information
Summary:
- Casinos/Gaming stocks up 5.1% on average while median return up 2.4% in a day
- Casinos/Gaming stocks up 6.7% on average while median return up 3.1% in a week
- Casinos/Gaming stocks up 7.1% on average while median return up 2.0% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $EVRI 57.7%, $BALY 45.3%, $IGT 18.9%, $FLL 18.4%, $MCRI 15.3%
- 1M losers are : Losers for past month are $GRVY -5.7%, $WYNN -7.4%, $CZR -8.1%, $LVS -10.6%, $MLCO -25.9%
- 1W winners are : Winners for past week are $EVRI 54.5%, $BALY 23.0%, $IGT 15.3%, $MCRI 13.2%, $FLL 11.8%
- 1W losers are : Losers for past week are $MSC -3.0%, $LVS -4.6%, $CZR -4.9%, $MLCO -4.9%, $MGM -7.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 32.9%, for the past 3 months is 21.3%
In the past month for a 5 days rolling window, the highest corrrelation is 64.8%, the lowest correlation is 3.9%, the latest correlation is 31.5%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 91.0% between BALY and MCRI
The lowest correlation is -18.8% between MCVT and MSC
Shares of casino gaming technology company Everi (NYSE:EVRI) jumped 42.2% in the morning session after the company announced it has agreed to a deal to be acquired alongside IGT's Gaming & Digital business by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. in an all-cash transaction. The deal values the acquired businesses at approximately $6.3 billion. To provide some context, on February 29, 2024, IGT and Everi agreed to a deal in which IGT
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Apollo Global Management agreed to buy International Game Technology’s gaming and digital arm and Everi Holdings in a roughly $6.3 billion deal.
Bally's Corporation ( NYSE:BALY ) shareholders will doubtless be very grateful to see the share price up 49% in the...
Everi, IGT's Gaming and Digital Business to Be Acquired by Apollo Global in $6.3 Billion Deal
Everi Holdings, International Game Technology Sign $6.30 Billion Acquisition Deal With Apollo Global Management Funds
(Reuters) -Private equity firm Apollo Funds will take International Game Technology's gaming and digital business and Everi Holdings private in an all-cash deal that values the combined business at $6.3 billion, the companies said on Friday. Shares of IGT jumped 20%, while casino platform provider Everi rose 40% in early trading. The deal is the latest sign of a resurgence in the private equity space following a period of dormancy due to high interest rates that had hindered debt financing for...
International Game Technology PLC (NYSE: IGT) ("IGT") and Everi Holdings Inc. (NYSE: EVRI) ("Everi") today announced that they have entered into definitive agreements whereby IGT's Gaming & Digital business ("IGT Gaming") and Everi will be simultaneously acquired by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) ("Apollo") (the "Apollo Funds") in an all-cash transaction that values the acquired businesses at approximately $6.3 bi
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