Target Correlations

TGT Stock

USD 121.59 0.13 0.11%

The current 90-days correlation between Target and Costco Wholesale Corp is 0.15 (i.e., Average 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

Significant diversification

The correlation between Target and DJI is 0.03 (i.e., Significant 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.

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 against Target Stock

0.45	WILC	G Willi Food Trending	Pair Corr
0.33	DDL	Dingdong ADR	Pair Corr
0.32	HITI	High Tide	Pair Corr
0.43	PM	Philip Morris Intern	Pair Corr

Related Correlations Analysis

	COST	BJ	DLTR	DG	WMT	BIG
COST		0.27	-0.34	-0.31	0.59	-0.59	COST
BJ	0.27		-0.25	-0.14	0.62	-0.59	BJ
DLTR	-0.34	-0.25		0.94	-0.76	0.76	DLTR
DG	-0.31	-0.14	0.94		-0.69	0.69	DG
WMT	0.59	0.62	-0.76	-0.69		-0.91	WMT
BIG	-0.59	-0.59	0.76	0.69	-0.91		BIG
	COST	BJ	DLTR	DG	WMT	BIG

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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

DG	+ 0.94	DLTR
BIG	+ 0.76	DLTR
BIG	+ 0.69	DG
WMT	+ 0.62	BJ
WMT	+ 0.59	COST
BJ	+ 0.27	COST

High negative correlations

BIG	- 0.91	WMT
WMT	- 0.76	DLTR
WMT	- 0.69	DG
BIG	- 0.59	BJ
BIG	- 0.59	COST
DLTR	- 0.34	COST

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
COST	0.89	0.04	0.00	0.17	0.94	(0.98)	1.93	(1.70)	5.09
BJ	1.07	(0.05)	0.00	(0.03)	0.00	0.00	2.00	(1.85)	8.11
DLTR	2.20	(0.58)	0.00	1.49	0.00	0.00	3.30	(3.83)	22.95
DG	1.79	(0.58)	0.00	0.74	0.00	0.00	2.69	(3.31)	33.89
WMT	0.75	0.23	0.15	5.34	0.73	(0.84)	1.61	(1.27)	4.33
BIG	8.08	(2.72)	0.00	(16.62)	0.00	0.00	21.35	(16.67)	103.00

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