Tanger Factory Correlations

T6O Stock

EUR 34.08 0.21 0.61%

The current 90-days correlation between Tanger Factory Outlet and Corporate Office Properties is 0.01 (i.e., Significant diversification). The correlation of Tanger Factory is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Tanger Factory Correlation With Market

Weak diversification

The correlation between Tanger Factory Outlet and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tanger Factory Outlet and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Tanger Factory could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tanger Factory when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Tanger Factory - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Tanger Factory Outlet to buy it.

Moving together with Tanger Stock

0.75	BRYN	Berkshire Hathaway	Pair Corr
0.76	BRYN	Berkshire Hathaway	Pair Corr
0.78	KBIA	KB Financial Group	Pair Corr
0.76	6GAA	Grupo Aval Acciones	Pair Corr
0.61	BY6A	BYD Limited	Pair Corr
0.91	GIS	General Mills	Pair Corr
0.91	MOB	Monster Beverage Corp	Pair Corr
0.74	SK3	Smurfit Kappa Group	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.87	AD2	Air China Limited	Pair Corr

Moving against Tanger Stock

0.86	SSU	Samsung Electronics	Pair Corr
0.84	SSUN	Samsung Electronics	Pair Corr
0.82	C20	Capital Counties Pro	Pair Corr
0.67	HYU	Hyundai Motor	Pair Corr
0.65	PKX	POSCO Holdings	Pair Corr
0.48	1D3	SERITAGE GWTH PRA	Pair Corr
0.54	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	HTG	WX7	PSAN	A4XA	TKE	MGK	47X	CPU2
HTG		0.8	0.25	-0.16	0.49	0.47	0.11	-0.39	HTG
WX7	0.8		0.33	-0.24	0.61	0.59	0.41	-0.31	WX7
PSAN	0.25	0.33		0.02	-0.28	0.52	0.66	0.17	PSAN
A4XA	-0.16	-0.24	0.02		0.07	0.01	-0.29	0.34	A4XA
TKE	0.49	0.61	-0.28	0.07		0.39	-0.16	-0.41	TKE
MGK	0.47	0.59	0.52	0.01	0.39		0.48	-0.1	MGK
47X	0.11	0.41	0.66	-0.29	-0.16	0.48		0.24	47X
CPU2	-0.39	-0.31	0.17	0.34	-0.41	-0.1	0.24		CPU2
	HTG	WX7	PSAN	A4XA	TKE	MGK	47X	CPU2

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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

WX7	+ 0.8	HTG
47X	+ 0.66	PSAN
TKE	+ 0.61	WX7
MGK	+ 0.59	WX7
MGK	+ 0.52	PSAN
TKE	+ 0.49	HTG

High negative correlations

CPU2	- 0.41	TKE
CPU2	- 0.39	HTG
CPU2	- 0.31	WX7
47X	- 0.29	A4XA
TKE	- 0.28	PSAN
A4XA	- 0.24	WX7

Risk-Adjusted Indicators

There is a big difference between Tanger Stock performing well and Tanger Factory 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 Tanger Factory's 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
HTG	1.97	0.20	0.03	(3.78)	1.87	(3.03)	4.61	(3.94)	16.06
WX7	0.95	0.23	0.11	1.14	0.87	(1.22)	2.08	(1.49)	5.53
PSAN	0.95	0.07	(0.03)	2.70	1.13	(1.12)	2.26	(1.79)	7.62
A4XA	1.61	0.11	(0.01)	(1.73)	1.72	(1.82)	3.60	(2.34)	9.43
TKE	1.14	0.31	0.17	1.92	0.89	(1.36)	2.49	(1.90)	7.45
MGK	1.55	0.16	0.04	0.53	1.60	(2.19)	4.44	(3.43)	11.87
47X	1.19	0.05	(0.01)	0.22	1.20	(1.69)	2.74	(2.56)	5.68
CPU2	1.80	0.08	0.01	0.22	2.20	(5.15)	4.40	(5.10)	32.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tanger Factory without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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