Since 2005, WYNN and LVS bounce back strongly the five trading days following a big fall in the Chinese market—both trading positive more than half the time and returning 3.5 and 4.7 percent on average respectively.
Another way to play a fall in China is to look at U.S. technology companies that rely on China for a bulk of their sales. According to FactSet, chipmaker Qualcomm sees nearly half its revenue come from China (48 percent) while smaller chipmaker Altera is also vulnerable, deriving 30 percent of revenue from China.
After the Shanghai Composite falls 10 percent or more in five days, both names outperform the S&P 500. The following week, Qualcomm trades positive nearly 65 percent of the time, returning 1.5 percent on average. Altera trades positive about 60 percent of the time, also returning 1.5 percent on average.
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Other Wall Street names with China exposure such as Micron Technology, Texas Instruments and Starbucks are less reliable, trading negative half the time or more.
Historically, Yahoo should also be avoided. The company's fortunes are linked to China through its 15 percent stake in Chinese e-commerce giant Alibaba. During a dive in Shanghai, shares typically fall 3.9 percent on average. The following week, they continue to underperform, losing another 0.4 percent on average.
U.S. companies with increasing exposure to China will be hit by selloffs in markets there, but time it right and there may be opportunity to get in on a rebound.
Disclosure: NBCUniversal, parent of CNBC, is a minority investor in Kensho.