CHDN vs. MCD

Last updated Jun 3, 2026

CHDN (Churchill Downs Incorporated) and MCD (McDonald's Corporation) are both stocks. Both are in the Consumer Cyclical sector — CHDN in Gambling, MCD in Restaurants. Over the past 10 years, CHDN returned 16.00%/yr vs 11.23%/yr for MCD. At a 0.20 correlation, their price movements are largely independent.

Performance

CHDN vs. MCD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Churchill Downs Incorporated (CHDN) and McDonald's Corporation (MCD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHDN achieves a -23.03% return, which is significantly lower than MCD's -8.46% return. Over the past 10 years, CHDN has outperformed MCD with an annualized return of 16.00%, while MCD has yielded a comparatively lower 11.23% annualized return.

CHDN

• 1D: -2.44%
• 1M: -11.22%
• YTD: -23.03%
• 6M: -20.79%
• 1Y: -5.24%
• 3Y*: -14.63%
• 5Y*: -2.04%
• 10Y*: 16.00%

MCD

• 1D: 0.77%
• 1M: -2.93%
• YTD: -8.46%
• 6M: -6.96%
• 1Y: -9.47%
• 3Y*: 0.76%
• 5Y*: 5.93%
• 10Y*: 11.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CHDN vs. MCD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHDN Churchill Downs Incorporated	-23.03%	-14.47%	-0.74%	28.06%	-11.95%	24.05%	42.47%	69.49%	5.47%	55.74%
MCD McDonald's Corporation	-8.46%	7.89%	0.14%	15.06%	0.51%	27.79%	11.30%	13.97%	5.78%	45.05%

Correlation

The correlation between CHDN and MCD is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Mar 30, 1993	0.20

The correlation between CHDN and MCD shifts across timeframes, from 0.13 (1 year) to 0.26 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CHDN : $6.13B MCD : $197.18B
EPS CHDN : $5.44 MCD : $12.13
PE Ratio CHDN : 16.10 MCD : 22.78
PEG Ratio CHDN : 0.89 MCD : 3.67
PS Ratio CHDN : 2.12 MCD : 7.20
Total Revenue (TTM) CHDN : $2.95B MCD : $27.45B
Gross Profit (TTM) CHDN : $793.10M MCD : $12.10B
EBITDA (TTM) CHDN : $983.60M MCD : $14.46B

Return for Risk

CHDN vs. MCD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CHDN

CHDN Risk / Return Rank: 31
CHDN Sharpe Ratio Rank: 34
CHDN Sortino Ratio Rank: 29
CHDN Omega Ratio Rank: 29
CHDN Calmar Ratio Rank: 31
CHDN Martin Ratio Rank: 32

MCD

MCD Risk / Return Rank: 16
MCD Sharpe Ratio Rank: 15
MCD Sortino Ratio Rank: 15
MCD Omega Ratio Rank: 16
MCD Calmar Ratio Rank: 23
MCD Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CHDN vs. MCD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Churchill Downs Incorporated (CHDN) and McDonald's Corporation (MCD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CHDN	MCD	Difference
Sharpe ratio Return per unit of total volatility	-0.17	-0.58	+0.42
Sortino ratio Return per unit of downside risk	-0.02	-0.73	+0.71
Omega ratio Gain probability vs. loss probability	1.00	0.92	+0.08
Calmar ratio Return relative to maximum drawdown	-0.27	-0.49	+0.22
Martin ratio Return relative to average drawdown	-0.49	-1.30	+0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHDN vs. MCD - Sharpe Ratio Comparison

The current CHDN Sharpe Ratio is -0.17, which is higher than the MCD Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of CHDN and MCD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CHDN	MCD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	-0.58	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.35	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.55	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.53	-0.25

Drawdowns

CHDN vs. MCD - Drawdown Comparison

The maximum CHDN drawdown since its inception was -62.86%, smaller than the maximum MCD drawdown of -73.20%. Use the drawdown chart below to compare losses from any high point for CHDN and MCD.

Drawdown Indicators

	CHDN	MCD	Difference
Max Drawdown Largest peak-to-trough decline	-62.86%	-73.20%	+10.34%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	-19.04%	-10.32%
Max Drawdown (3Y) Largest decline over 3 years	-43.28%	-19.04%	-24.24%
Max Drawdown (5Y) Largest decline over 5 years	-43.72%	-19.04%	-24.68%
Max Drawdown (10Y) Largest decline over 10 years	-62.86%	-36.90%	-25.96%
Current Drawdown Current decline from peak	-40.66%	-17.96%	-22.70%
Average Drawdown Average peak-to-trough decline	-17.55%	-14.89%	-2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.01%	7.14%	+8.87%

Volatility

CHDN vs. MCD - Volatility Comparison

Churchill Downs Incorporated (CHDN) has a higher volatility of 11.32% compared to McDonald's Corporation (MCD) at 4.75%. This indicates that CHDN's price experiences larger fluctuations and is considered to be riskier than MCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHDN	MCD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	4.75%	+6.57%
Volatility (6M) Calculated over the trailing 6-month period	24.90%	12.18%	+12.72%
Volatility (1Y) Calculated over the trailing 1-year period	31.98%	16.38%	+15.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.42%	17.24%	+15.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.51%	20.39%	+17.12%

Dividends

CHDN vs. MCD - Dividend Comparison

CHDN's dividend yield for the trailing twelve months is around 0.50%, less than MCD's 2.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHDN Churchill Downs Incorporated	0.50%	0.38%	0.31%	0.28%	0.34%	0.28%	0.32%	0.42%	0.67%	0.65%	0.88%	0.81%
MCD McDonald's Corporation	2.66%	2.35%	2.34%	2.10%	2.15%	1.96%	2.35%	2.39%	2.36%	2.23%	2.97%	2.91%

Financials

CHDN vs. MCD - Profitability Comparison

The chart below illustrates the profitability comparison between Churchill Downs Incorporated and McDonald's Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CHDN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Churchill Downs Incorporated reported a gross profit of 0.00 and revenue of 663.00M. Therefore, the gross margin over that period was 0.0%.

MCD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, McDonald's Corporation reported a gross profit of 0.00 and revenue of 6.52B. Therefore, the gross margin over that period was 0.0%.

CHDN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Churchill Downs Incorporated reported an operating income of 143.00M and revenue of 663.00M, resulting in an operating margin of 21.6%.

MCD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, McDonald's Corporation reported an operating income of 2.95B and revenue of 6.52B, resulting in an operating margin of 45.3%.

CHDN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Churchill Downs Incorporated reported a net income of 83.00M and revenue of 663.00M, resulting in a net margin of 12.5%.

MCD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, McDonald's Corporation reported a net income of 1.98B and revenue of 6.52B, resulting in a net margin of 30.4%.

Frequently Asked Questions

Can I hold both CHDN and MCD in my portfolio?

CHDN and MCD have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHDN or MCD?

CHDN has higher volatility (11.32%) compared to MCD (4.75%). In terms of maximum drawdown, CHDN dropped -62.86% vs MCD's -73.20%.

Which has better risk-adjusted returns?

CHDN currently has the higher Sharpe Ratio (-0.17 vs -0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.