Target Correlations

TGT Stock

USD 96.53 2.23 2.36%

The current 90-days correlation between Target and Kroger Company is 0.31 (i.e., Weak diversification). The correlation of Target 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Target Correlation With Market

Very weak diversification

The correlation between Target and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Target Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Target. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

For more information on how to buy Target Stock please use our How to Invest in Target guide.

Moving together with Target Stock

0.76	DG	Dollar General	Pair Corr
0.79	DLTR	Dollar Tree	Pair Corr
0.61	WILC	G Willi Food	Pair Corr
0.69	WMT	Walmart Common Stock	Pair Corr
0.67	GRDN	Guardian Pharmacy	Pair Corr

Moving against Target Stock

0.45	KR	Kroger Company	Pair Corr
0.43	YI	111 Inc	Pair Corr
0.42	HITI	High Tide	Pair Corr
0.4	GO	Grocery Outlet Holding	Pair Corr
0.39	MSS	Maison Solutions	Pair Corr
0.32	SFM	Sprouts Farmers Market	Pair Corr
0.31	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.68	HCWC	Healthy Choice Wellness	Pair Corr
0.64	COL	Coles Group	Pair Corr
0.57	GCL	Colabor Group	Pair Corr
0.55	HPC	Hydration Pharmaceuticals	Pair Corr
0.51	HWIN	Hometown International	Pair Corr
0.49	603939	Yifeng Pharmacy	Pair Corr
0.43	SYY	Sysco	Pair Corr
0.37	HITI	High Tide	Pair Corr
0.32	WNW	Meiwu Technology	Pair Corr
0.65	MTS	Metcash	Pair Corr
0.48	PFGC	Performance Food	Pair Corr
0.47	EMP-A	Empire Limited	Pair Corr
0.43	NGVC	Natural Grocers by	Pair Corr

Related Correlations Analysis

	KR	CCEP	ABEV	SYY	KDP	KMB	JBS	HSY
KR		-0.16	-0.53	0.58	-0.3	0.61	-0.38	0.31	KR
CCEP	-0.16		0.73	-0.38	0.63	-0.49	0.35	0.09	CCEP
ABEV	-0.53	0.73		-0.67	0.51	-0.84	0.53	-0.13	ABEV
SYY	0.58	-0.38	-0.67		-0.6	0.86	0.02	0.58	SYY
KDP	-0.3	0.63	0.51	-0.6		-0.46	0.11	-0.08	KDP
KMB	0.61	-0.49	-0.84	0.86	-0.46		-0.17	0.4	KMB
JBS	-0.38	0.35	0.53	0.02	0.11	-0.17		0.28	JBS
HSY	0.31	0.09	-0.13	0.58	-0.08	0.4	0.28		HSY
	KR	CCEP	ABEV	SYY	KDP	KMB	JBS	HSY

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

KMB	+ 0.86	SYY
ABEV	+ 0.73	CCEP
KDP	+ 0.63	CCEP
KMB	+ 0.61	KR
SYY	+ 0.58	KR
HSY	+ 0.58	SYY

High negative correlations

KMB	- 0.84	ABEV
SYY	- 0.67	ABEV
KDP	- 0.6	SYY
ABEV	- 0.53	KR
KMB	- 0.49	CCEP
KMB	- 0.46	KDP

Risk-Adjusted Indicators

There is a big difference between Target Stock performing well and Target 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 Target'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
KR	1.17	(0.04)	0.00	0.43	0.00	0.00	2.75	(2.64)	7.83
CCEP	0.77	0.04	(0.01)	0.22	1.18	(0.72)	1.95	(1.76)	5.73
ABEV	1.37	0.14	0.04	0.62	1.93	(1.50)	3.04	(2.33)	13.46
SYY	0.84	(0.17)	0.00	(0.57)	0.00	0.00	1.52	(1.94)	5.63
KDP	1.20	0.07	0.02	0.23	1.66	(1.18)	2.33	(1.93)	13.51
KMB	1.04	(0.31)	0.00	(0.63)	0.00	0.00	1.49	(1.78)	17.56
JBS	1.38	(0.07)	0.00	(0.35)	0.00	0.00	2.40	(3.02)	8.67
HSY	1.18	(0.06)	0.00	(0.08)	0.00	0.00	2.37	(2.51)	7.55

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