Macys Correlations

M Stock

USD 18.01 0.80 4.25%

The current 90-days correlation between Macys Inc and Urban Outfitters is 0.6 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Macys moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Macys Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Macys Correlation With Market

Very good diversification

The correlation between Macys Inc and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macys Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Macys Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Macys Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Macys Stock

0.67	DDS	Dillards	Pair Corr
0.82	KSS	Kohls Earnings Call This Week	Pair Corr
0.61	MNSO	Miniso Group Holding	Pair Corr

Moving against Macys Stock

0.48	LITB	LightInTheBox Holding	Pair Corr
0.43	EBAY	eBay Inc	Pair Corr
0.36	HEPS	D MARKET Electronic	Pair Corr
0.69	EC	Ecopetrol SA ADR Earnings Call Today	Pair Corr
0.6	GLGDF	GoGold Resources	Pair Corr
0.59	PZG	Paramount Gold Nevada	Pair Corr
0.45	FMX	Fomento Economico	Pair Corr
0.43	BABA	Alibaba Group Holding Earnings Call This Week	Pair Corr
0.4	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.36	SSNLF	Samsung Electronics	Pair Corr
0.32	LYV	Live Nation Entertainment	Pair Corr

Related Correlations Analysis

	URBN	BBWI	GPI	GNTX	REYN	LEA	WH	LTH	MTN	TMHC
URBN		-0.42	0.65	-0.04	-0.14	-0.46	-0.25	-0.45	0.44	-0.5	URBN
BBWI	-0.42		-0.67	0.76	-0.09	0.86	0.69	0.55	-0.12	0.63	BBWI
GPI	0.65	-0.67		-0.42	0.02	-0.8	-0.45	-0.61	0.29	-0.68	GPI
GNTX	-0.04	0.76	-0.42		-0.32	0.75	0.47	0.51	-0.03	0.41	GNTX
REYN	-0.14	-0.09	0.02	-0.32		-0.11	0.31	-0.38	0.41	0.41	REYN
LEA	-0.46	0.86	-0.8	0.75	-0.11		0.72	0.6	-0.07	0.66	LEA
WH	-0.25	0.69	-0.45	0.47	0.31	0.72		0.12	0.28	0.48	WH
LTH	-0.45	0.55	-0.61	0.51	-0.38	0.6	0.12		-0.45	0.43	LTH
MTN	0.44	-0.12	0.29	-0.03	0.41	-0.07	0.28	-0.45		0.06	MTN
TMHC	-0.5	0.63	-0.68	0.41	0.41	0.66	0.48	0.43	0.06		TMHC
	URBN	BBWI	GPI	GNTX	REYN	LEA	WH	LTH	MTN	TMHC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LEA	+ 0.86	BBWI
GNTX	+ 0.76	BBWI
LEA	+ 0.75	GNTX
WH	+ 0.72	LEA
WH	+ 0.69	BBWI
TMHC	+ 0.66	LEA

High negative correlations

LEA	- 0.8	GPI
TMHC	- 0.68	GPI
GPI	- 0.67	BBWI
LTH	- 0.61	GPI
TMHC	- 0.5	URBN
LEA	- 0.46	URBN

Risk-Adjusted Indicators

There is a big difference between Macys Stock performing well and Macys Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Macys' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
URBN	2.31	0.02	0.02	0.09	3.06	(2.38)	5.28	(4.20)	25.85
BBWI	2.41	0.47	0.18	0.36	2.41	(2.75)	5.29	(3.41)	16.60
GPI	1.25	(0.40)	0.00	(0.31)	0.00	0.00	2.16	(2.74)	10.64
GNTX	1.10	0.02	0.00	0.10	1.24	(1.39)	2.65	(2.01)	8.90
REYN	1.22	(0.01)	(0.03)	0.05	1.79	(1.18)	2.10	(2.27)	14.28
LEA	1.45	0.23	0.18	0.24	1.11	(1.75)	3.60	(2.18)	12.86
WH	1.51	0.12	0.08	0.19	1.38	(1.90)	3.31	(2.72)	8.24
LTH	1.49	(0.07)	(0.02)	0.02	1.85	(1.62)	3.94	(3.00)	10.39
MTN	1.70	(0.03)	(0.02)	0.04	1.87	(1.86)	3.85	(3.17)	13.29
TMHC	1.38	0.06	0.04	0.15	1.23	(1.75)	3.92	(2.24)	10.34

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