Target Correlations

TGT Stock

USD 100.51 2.76 2.82%

The current 90-days correlation between Target and Dollar General is 0.4 (i.e., Very 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 price.

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

Moving together with Target Stock

0.69	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.64	TBBB	BBB Foods	Pair Corr
0.62	LNDNF	Lundin Energy AB	Pair Corr
0.76	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.65	DB	Deutsche Bank AG	Pair Corr
0.61	CASXF	Casa Minerals	Pair Corr
0.68	FTV	Fortive Corp	Pair Corr
0.74	AXP	American Express	Pair Corr
0.8	BAC	Bank of America	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr

Moving against Target Stock

0.61	COST	Costco Wholesale Corp	Pair Corr
0.57	UNFI	United Natural Foods	Pair Corr
0.53	PFGC	Performance Food	Pair Corr
0.4	BKLRF	Berkeley Energy	Pair Corr
0.33	WNW	Meiwu Technology	Pair Corr
0.62	T	ATT Inc	Pair Corr
0.46	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	OLLI	DG	DLTR	PSMT	PG	KO	KR
OLLI		-0.87	-0.84	-0.49	0.61	-0.44	0.64	OLLI
DG	-0.87		0.92	0.67	-0.72	0.37	-0.67	DG
DLTR	-0.84	0.92		0.58	-0.77	0.59	-0.73	DLTR
PSMT	-0.49	0.67	0.58		-0.39	0.1	-0.26	PSMT
PG	0.61	-0.72	-0.77	-0.39		-0.34	0.71	PG
KO	-0.44	0.37	0.59	0.1	-0.34		-0.24	KO
KR	0.64	-0.67	-0.73	-0.26	0.71	-0.24		KR
	OLLI	DG	DLTR	PSMT	PG	KO	KR

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

DLTR	+ 0.92	DG
KR	+ 0.71	PG
PSMT	+ 0.67	DG
KR	+ 0.64	OLLI
PG	+ 0.61	OLLI
KO	+ 0.59	DLTR

High negative correlations

DG	- 0.87	OLLI
DLTR	- 0.84	OLLI
PG	- 0.77	DLTR
KR	- 0.73	DLTR
PG	- 0.72	DG
KR	- 0.67	DG

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
OLLI	1.68	(0.27)	0.00	(0.16)	0.00	0.00	3.30	(3.31)	10.60
DG	1.68	0.40	0.19	0.43	1.76	(1.89)	4.28	(3.55)	20.13
DLTR	1.96	0.38	0.22	0.26	1.61	(2.35)	4.61	(2.85)	9.87
PSMT	1.11	(0.02)	(0.01)	0.03	1.63	(1.06)	1.99	(2.26)	10.60
PG	0.84	(0.12)	0.00	(0.80)	0.00	0.00	1.60	(1.56)	5.65
KO	0.75	0.07	0.01	1.22	0.81	(0.85)	2.04	(1.34)	6.64
KR	1.16	(0.09)	0.00	1.17	0.00	0.00	2.75	(2.64)	7.83

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