MSGS vs. TKO

Last updated Jun 4, 2026

MSGS (Madison Square Garden Sports Corp.) and TKO (TKO Group Holdings Inc.) are both stocks. Both operate in the Entertainment industry within the Communication Services sector. Over the past year, MSGS returned 101.13% vs 23.44% for TKO. At a 0.32 correlation, their price movements are largely independent.

Performance

MSGS vs. TKO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Square Garden Sports Corp. (MSGS) and TKO Group Holdings Inc. (TKO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSGS achieves a 47.23% return, which is significantly higher than TKO's -4.61% return.

MSGS

• 1D: -0.50%
• 1M: 11.95%
• YTD: 47.23%
• 6M: 70.36%
• 1Y: 101.13%
• 3Y*: 28.76%
• 5Y*: 17.73%
• 10Y*: 16.70%

TKO

• 1D: -2.94%
• 1M: 6.76%
• YTD: -4.61%
• 6M: 2.68%
• 1Y: 23.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSGS vs. TKO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSGS Madison Square Garden Sports Corp.	47.23%	14.61%	24.12%	3.87%
TKO TKO Group Holdings Inc.	-4.61%	48.92%	74.20%	-17.81%

Correlation

The correlation between MSGS and TKO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.32

Fundamentals

Market Cap MSGS : $9.20B TKO : $38.65B
EPS MSGS : -$0.07 TKO : $1.96
PS Ratio MSGS : 8.52 TKO : 7.72
Total Revenue (TTM) MSGS : $1.08B TKO : $5.06B
Gross Profit (TTM) MSGS : $48.32M TKO : $1.75B
EBITDA (TTM) MSGS : -$41.02M TKO : $1.33B

Return for Risk

MSGS vs. TKO — Risk / Return Rank

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

MSGS

MSGS Risk / Return Rank: 97
MSGS Sharpe Ratio Rank: 96
MSGS Sortino Ratio Rank: 97
MSGS Omega Ratio Rank: 96
MSGS Calmar Ratio Rank: 97
MSGS Martin Ratio Rank: 96

TKO

TKO Risk / Return Rank: 62
TKO Sharpe Ratio Rank: 64
TKO Sortino Ratio Rank: 60
TKO Omega Ratio Rank: 58
TKO Calmar Ratio Rank: 65
TKO Martin Ratio Rank: 64

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.

MSGS vs. TKO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Square Garden Sports Corp. (MSGS) and TKO Group Holdings Inc. (TKO). 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.

	MSGS	TKO	Difference
Sharpe ratio: Return per unit of total volatility	3.45	0.74	+2.70
Sortino ratio: Return per unit of downside risk	4.98	1.29	+3.69
Omega ratio: Gain probability vs. loss probability	1.64	1.16	+0.48
Calmar ratio: Return relative to maximum drawdown	10.09	1.29	+8.80
Martin ratio: Return relative to average drawdown	24.05	2.69	+21.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSGS vs. TKO - Sharpe Ratio Comparison

The current MSGS Sharpe Ratio is 3.45, which is higher than the TKO Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of MSGS and TKO, 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

	MSGS	TKO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.45	0.74	+2.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.91	-0.39

Drawdowns

MSGS vs. TKO - Drawdown Comparison

The maximum MSGS drawdown since its inception was -41.57%, which is greater than TKO's maximum drawdown of -28.35%. Use the drawdown chart below to compare losses from any high point for MSGS and TKO.

Drawdown Indicators

	MSGS	TKO	Difference
Max Drawdown Largest peak-to-trough decline	-41.57%	-28.35%	-13.22%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-18.28%	+8.20%
Max Drawdown (3Y) Largest decline over 3 years	-25.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.57%	—	—
Current Drawdown Current decline from peak	-0.50%	-11.38%	+10.88%
Average Drawdown Average peak-to-trough decline	-10.58%	-8.74%	-1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	8.72%	-4.50%

Volatility

MSGS vs. TKO - Volatility Comparison

The current volatility for Madison Square Garden Sports Corp. (MSGS) is 7.21%, while TKO Group Holdings Inc. (TKO) has a volatility of 10.47%. This indicates that MSGS experiences smaller price fluctuations and is considered to be less risky than TKO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSGS	TKO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	10.47%	-3.26%
Volatility (6M) Calculated over the trailing 6-month period	23.35%	23.10%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	29.52%	31.77%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.35%	33.07%	-7.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.44%	33.07%	-1.63%

Dividends

MSGS vs. TKO - Dividend Comparison

MSGS has not paid dividends to shareholders, while TKO's dividend yield for the trailing twelve months is around 1.36%.

Position	TTM	2025	2024	2023	2022	2021	2020
MSGS Madison Square Garden Sports Corp.	0.00%	0.00%	0.00%	0.00%	3.82%	0.00%	36.97%
TKO TKO Group Holdings Inc.	1.36%	1.10%	0.00%	4.73%	0.00%	0.00%	0.00%

Financials

MSGS vs. TKO - Profitability Comparison

The chart below illustrates the profitability comparison between Madison Square Garden Sports Corp. and TKO Group Holdings Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MSGS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Madison Square Garden Sports Corp. reported a gross profit of -121.61M and revenue of 432.20M. Therefore, the gross margin over that period was -28.1%.

TKO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TKO Group Holdings Inc. reported a gross profit of 0.00 and revenue of 1.60B. Therefore, the gross margin over that period was 0.0%.

MSGS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Madison Square Garden Sports Corp. reported an operating income of 1.96M and revenue of 432.20M, resulting in an operating margin of 0.5%.

TKO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TKO Group Holdings Inc. reported an operating income of 338.50M and revenue of 1.60B, resulting in an operating margin of 21.2%.

MSGS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Madison Square Garden Sports Corp. reported a net income of 555.00K and revenue of 432.20M, resulting in a net margin of 0.1%.

TKO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TKO Group Holdings Inc. reported a net income of 248.20M and revenue of 1.60B, resulting in a net margin of 15.5%.

Frequently Asked Questions

Can I hold both MSGS and TKO in my portfolio?

MSGS and TKO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSGS or TKO?

TKO has higher volatility (10.47%) compared to MSGS (7.21%). In terms of maximum drawdown, MSGS dropped -41.57% vs TKO's -28.35%.

Which has better risk-adjusted returns?

MSGS currently has the higher Sharpe Ratio (3.45 vs 0.74), 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.