T.J. Maxx Correlations

TJX Stock

EUR 120.62 0.98 0.82%

The current 90-days correlation between TJX Companies and Lululemon Athletica is -0.03 (i.e., Good diversification). The correlation of T.J. Maxx 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.

T.J. Maxx Correlation With Market

Average diversification

The correlation between The TJX Companies and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The TJX Companies and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to T.J. Maxx could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace T.J. Maxx 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 T.J. Maxx - 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 The TJX Companies to buy it.

Moving together with T.J. Stock

0.68	33L	Lululemon Athletica	Pair Corr
0.86	GAP	Gap	Pair Corr
0.72	UOF	Urban Outfitters	Pair Corr
0.61	6GAA	Grupo Aval Acciones	Pair Corr
0.68	6GAA	Grupo Aval Acciones	Pair Corr
0.87	MFZA	Mitsubishi UFJ Financial Earnings Call This Week	Pair Corr
0.91	WMT	Walmart	Pair Corr
0.9	27M	Melrose Industries PLC	Pair Corr
0.91	TLX	Talanx AG	Pair Corr
0.94	UFH	US FOODS HOLDING	Pair Corr
0.88	QBE	QBE Insurance Group	Pair Corr
0.94	MEC	Meiko Electronics	Pair Corr
0.9	NSE	Nomura Holdings	Pair Corr
0.61	4DH	Dana Inc	Pair Corr
0.77	UN3	United Natural Foods	Pair Corr
0.77	T2K1	Transportadora de Gas	Pair Corr
0.63	UNP	Union Pacific	Pair Corr
0.76	DVY	DEVRY EDUCATION GRP	Pair Corr
0.84	SC3	SCANSOURCE Earnings Call This Week	Pair Corr
0.73	BST	Bastei Lbbe AG Earnings Call This Week	Pair Corr

Moving against T.J. Stock

0.56	AFG	American Eagle Outfitters	Pair Corr
0.31	KBIA	KB Financial Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TJX	33L	UOF	8SP	39O1	INVN	IUI1	INL	VOW	RS6
TJX		0.68	0.72	-0.03	-0.34	0.67	0.68	-0.29	-0.14	0.24	TJX
33L	0.68		0.91	-0.05	-0.67	0.33	0.61	-0.78	0.42	-0.39	33L
UOF	0.72	0.91		-0.02	-0.72	0.35	0.71	-0.73	0.39	-0.38	UOF
8SP	-0.03	-0.05	-0.02		0.34	0.16	-0.17	-0.12	0.0	0.04	8SP
39O1	-0.34	-0.67	-0.72	0.34		0.06	-0.68	0.46	-0.51	0.47	39O1
INVN	0.67	0.33	0.35	0.16	0.06		0.35	-0.08	-0.32	0.43	INVN
IUI1	0.68	0.61	0.71	-0.17	-0.68	0.35		-0.25	0.36	0.07	IUI1
INL	-0.29	-0.78	-0.73	-0.12	0.46	-0.08	-0.25		-0.55	0.71	INL
VOW	-0.14	0.42	0.39	0.0	-0.51	-0.32	0.36	-0.55		-0.59	VOW
RS6	0.24	-0.39	-0.38	0.04	0.47	0.43	0.07	0.71	-0.59		RS6
	TJX	33L	UOF	8SP	39O1	INVN	IUI1	INL	VOW	RS6

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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

UOF	+ 0.91	33L
UOF	+ 0.72	TJX
IUI1	+ 0.71	UOF
RS6	+ 0.71	INL
33L	+ 0.68	TJX
IUI1	+ 0.68	TJX

High negative correlations

INL	- 0.78	33L
INL	- 0.73	UOF
39O1	- 0.72	UOF
IUI1	- 0.68	39O1
39O1	- 0.67	33L
RS6	- 0.59	VOW

Risk-Adjusted Indicators

There is a big difference between T.J. Stock performing well and T.J. Maxx 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 T.J. Maxx'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
TJX	0.95	0.18	0.11	0.84	0.82	(1.10)	1.91	(1.84)	7.72
33L	2.06	0.61	0.23	(1.30)	1.73	(2.62)	5.46	(2.63)	21.55
UOF	2.28	0.78	0.29	(1.68)	1.71	(3.26)	5.19	(3.64)	17.03
8SP	1.98	(0.18)	0.00	(0.16)	0.00	0.00	3.05	(4.01)	19.18
39O1	3.37	(0.40)	0.00	(0.37)	0.00	0.00	9.82	(6.25)	29.56
INVN	2.60	0.10	(0.02)	(0.02)	2.90	(2.99)	6.28	(4.84)	14.01
IUI1	1.23	0.21	0.10	0.71	1.25	(1.34)	2.59	(2.16)	11.36
INL	2.51	(0.11)	0.00	(0.11)	0.00	0.00	7.04	(5.34)	16.28
VOW	1.20	0.11	0.00	(0.45)	1.35	(1.27)	2.84	(2.16)	5.55
RS6	1.38	0.08	0.02	0.23	1.42	(1.60)	2.92	(2.60)	15.24

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Our tools can tell you how much better you can do entering a position in T.J. Maxx 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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