Description

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company's Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,011 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays. Its Wynn Macau segment operates 252,000 square feet of casino space with 322 table games, 838 slot machines, private gaming salons, sky casinos, and a poker room; two luxury hotel with 1,010 guest rooms and suites that include two health clubs, two spas, a salon, and a pool; 12 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; and Chinese zodiac-inspired ceiling attractions. The company's Las Vegas Operations segment operates 192,000 square feet of casino space with 232 table games, 1,756 slot machines, private gaming salons, a sky casino, a poker room, and a race and sports book; two luxury hotel towers with a total of 4,748 guest rooms, suites, and villas, including swimming pools, private cabanas, two full service spas and salons, and a wedding chapel; 33 food and beverage outlets; 507,000 square feet of meeting and convention space; 160,000 square feet of retail space; and two theaters, three nightclubs and a beach club. Its Encore Boston Harbor segment operates 210,000 square feet of casino space with 161 table games, 2,833 slot machines, gaming areas, and a poker room; a hotel tower, including 671 guest rooms and suites; 16 food and beverage outlets and a nightclub; 8,000 square feet of retail space; 71,000 square feet of meeting and convention space; and a waterfront park, floral displays, and water shuttle service. The company was founded in 2002 and is based in Las Vegas, Nevada.

Statistics (YTD)

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TotalReturn:

'Total return, when measuring performance, is the actual rate of return of an investment or a pool of investments over a given evaluation period. Total return includes interest, capital gains, dividends and distributions realized over a given period of time. Total return accounts for two categories of return: income including interest paid by fixed-income investments, distributions or dividends and capital appreciation, representing the change in the market price of an asset.'

Applying this definition to our asset in some examples:
  • The total return, or increase in value over 5 years of Wynn Resorts is -16.4%, which is lower, thus worse compared to the benchmark SPY (93.6%) in the same period.
  • During the last 3 years, the total return is -15.7%, which is lower, thus worse than the value of 33.2% from the benchmark.

CAGR:

'The compound annual growth rate (CAGR) is a useful measure of growth over multiple time periods. It can be thought of as the growth rate that gets you from the initial investment value to the ending investment value if you assume that the investment has been compounding over the time period.'

Applying this definition to our asset in some examples:
  • Compared with the benchmark SPY (14.2%) in the period of the last 5 years, the compounded annual growth rate (CAGR) of -3.5% of Wynn Resorts is smaller, thus worse.
  • During the last 3 years, the annual return (CAGR) is -5.5%, which is lower, thus worse than the value of 10% from the benchmark.

Volatility:

'Volatility is a statistical measure of the dispersion of returns for a given security or market index. Volatility can either be measured by using the standard deviation or variance between returns from that same security or market index. Commonly, the higher the volatility, the riskier the security. In the securities markets, volatility is often associated with big swings in either direction. For example, when the stock market rises and falls more than one percent over a sustained period of time, it is called a 'volatile' market.'

Applying this definition to our asset in some examples:
  • Compared with the benchmark SPY (20.9%) in the period of the last 5 years, the historical 30 days volatility of 54.7% of Wynn Resorts is greater, thus worse.
  • Compared with SPY (17.5%) in the period of the last 3 years, the volatility of 44.6% is greater, thus worse.

DownVol:

'Downside risk is the financial risk associated with losses. That is, it is the risk of the actual return being below the expected return, or the uncertainty about the magnitude of that difference. Risk measures typically quantify the downside risk, whereas the standard deviation (an example of a deviation risk measure) measures both the upside and downside risk. Specifically, downside risk in our definition is the semi-deviation, that is the standard deviation of all negative returns.'

Which means for our asset as example:
  • Looking at the downside volatility of 36.9% in the last 5 years of Wynn Resorts, we see it is relatively larger, thus worse in comparison to the benchmark SPY (15%)
  • Looking at downside risk in of 30.3% in the period of the last 3 years, we see it is relatively greater, thus worse in comparison to SPY (12.2%).

Sharpe:

'The Sharpe ratio (also known as the Sharpe index, the Sharpe measure, and the reward-to-variability ratio) is a way to examine the performance of an investment by adjusting for its risk. The ratio measures the excess return (or risk premium) per unit of deviation in an investment asset or a trading strategy, typically referred to as risk, named after William F. Sharpe.'

Which means for our asset as example:
  • Looking at the ratio of return and volatility (Sharpe) of -0.11 in the last 5 years of Wynn Resorts, we see it is relatively lower, thus worse in comparison to the benchmark SPY (0.56)
  • Looking at risk / return profile (Sharpe) in of -0.18 in the period of the last 3 years, we see it is relatively smaller, thus worse in comparison to SPY (0.43).

Sortino:

'The Sortino ratio improves upon the Sharpe ratio by isolating downside volatility from total volatility by dividing excess return by the downside deviation. The Sortino ratio is a variation of the Sharpe ratio that differentiates harmful volatility from total overall volatility by using the asset's standard deviation of negative asset returns, called downside deviation. The Sortino ratio takes the asset's return and subtracts the risk-free rate, and then divides that amount by the asset's downside deviation. The ratio was named after Frank A. Sortino.'

Using this definition on our asset we see for example:
  • The ratio of annual return and downside deviation over 5 years of Wynn Resorts is -0.16, which is smaller, thus worse compared to the benchmark SPY (0.78) in the same period.
  • During the last 3 years, the ratio of annual return and downside deviation is -0.27, which is smaller, thus worse than the value of 0.62 from the benchmark.

Ulcer:

'The Ulcer Index is a technical indicator that measures downside risk, in terms of both the depth and duration of price declines. The index increases in value as the price moves farther away from a recent high and falls as the price rises to new highs. The indicator is usually calculated over a 14-day period, with the Ulcer Index showing the percentage drawdown a trader can expect from the high over that period. The greater the value of the Ulcer Index, the longer it takes for a stock to get back to the former high.'

Which means for our asset as example:
  • Compared with the benchmark SPY (9.33 ) in the period of the last 5 years, the Ulcer Index of 38 of Wynn Resorts is greater, thus worse.
  • Looking at Ulcer Index in of 37 in the period of the last 3 years, we see it is relatively larger, thus worse in comparison to SPY (10 ).

MaxDD:

'A maximum drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. It can be used both as a stand-alone measure or as an input into other metrics such as 'Return over Maximum Drawdown' and the Calmar Ratio. Maximum Drawdown is expressed in percentage terms.'

Applying this definition to our asset in some examples:
  • The maximum reduction from previous high over 5 years of Wynn Resorts is -71.5 days, which is lower, thus worse compared to the benchmark SPY (-33.7 days) in the same period.
  • Compared with SPY (-24.5 days) in the period of the last 3 years, the maximum DrawDown of -62.8 days is lower, thus worse.

MaxDuration:

'The Drawdown Duration is the length of any peak to peak period, or the time between new equity highs. The Max Drawdown Duration is the worst (the maximum/longest) amount of time an investment has seen between peaks (equity highs) in days.'

Using this definition on our asset we see for example:
  • Compared with the benchmark SPY (488 days) in the period of the last 5 years, the maximum time in days below previous high water mark of 1029 days of Wynn Resorts is higher, thus worse.
  • Looking at maximum time in days below previous high water mark in of 736 days in the period of the last 3 years, we see it is relatively higher, thus worse in comparison to SPY (488 days).

AveDuration:

'The Drawdown Duration is the length of any peak to peak period, or the time between new equity highs. The Avg Drawdown Duration is the average amount of time an investment has seen between peaks (equity highs), or in other terms the average of time under water of all drawdowns. So in contrast to the Maximum duration it does not measure only one drawdown event but calculates the average of all.'

Using this definition on our asset we see for example:
  • Compared with the benchmark SPY (123 days) in the period of the last 5 years, the average days below previous high of 439 days of Wynn Resorts is greater, thus worse.
  • Compared with SPY (180 days) in the period of the last 3 years, the average days below previous high of 362 days is greater, thus worse.

Performance (YTD)

Historical returns have been extended using synthetic data.

Allocations ()

Allocations

Returns (%)

  • Note that yearly returns do not equal the sum of monthly returns due to compounding.
  • Performance results of Wynn Resorts are hypothetical, do not account for slippage, fees or taxes, and are based on backtesting, which has many inherent limitations, some of which are described in our Terms of Use.