MACYS Correlations

55616XAC1

100.00 1.63 1.60%

The current 90-days correlation between MACYS RETAIL HLDGS and The Coca Cola is 0.05 (i.e., Significant diversification). The correlation of MACYS 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.

MACYS Correlation With Market

Average diversification

The correlation between MACYS RETAIL HLDGS and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MACYS RETAIL HLDGS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MACYS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MACYS 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 MACYS - 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 MACYS RETAIL HLDGS to buy it.

Moving together with MACYS Bond

0.62	KO	Coca Cola Aggressive Push	Pair Corr
0.64	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.65	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against MACYS Bond

0.62	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.62	BAC	Bank of America Aggressive Push	Pair Corr
0.56	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.56	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.56	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.53	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.4	T	ATT Inc Sell-off Trend	Pair Corr
0.31	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	KO	JPM	DD	AA	BA	MSFT	PG	IBM
KO		-0.86	0.17	-0.74	0.63	0.1	0.56	0.09	KO
JPM	-0.86		-0.15	0.7	-0.48	-0.17	-0.39	-0.04	JPM
DD	0.17	-0.15		0.43	-0.29	0.28	-0.18	0.65	DD
AA	-0.74	0.7	0.43		-0.69	0.09	-0.5	0.47	AA
BA	0.63	-0.48	-0.29	-0.69		-0.19	0.19	-0.45	BA
MSFT	0.1	-0.17	0.28	0.09	-0.19		0.1	0.26	MSFT
PG	0.56	-0.39	-0.18	-0.5	0.19	0.1		0.07	PG
IBM	0.09	-0.04	0.65	0.47	-0.45	0.26	0.07		IBM
	KO	JPM	DD	AA	BA	MSFT	PG	IBM

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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

AA	+ 0.7	JPM
IBM	+ 0.65	DD
BA	+ 0.63	KO
PG	+ 0.56	KO
IBM	+ 0.47	AA
AA	+ 0.43	DD

High negative correlations

JPM	- 0.86	KO
AA	- 0.74	KO
BA	- 0.69	AA
PG	- 0.5	AA
BA	- 0.48	JPM
IBM	- 0.45	BA

Risk-Adjusted Indicators

There is a big difference between MACYS Bond performing well and MACYS Corporate Bond 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 MACYS'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
KO	0.70	(0.13)	0.00	(1.11)	0.00	0.00	1.18	(1.66)	4.07
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
DD	1.00	(0.02)	(0.04)	0.09	1.19	(1.04)	2.68	(2.46)	7.46
AA	2.47	0.31	0.15	0.28	2.65	(2.81)	6.10	(5.76)	14.99
BA	1.68	(0.26)	0.00	(0.49)	0.00	0.00	3.11	(3.41)	8.59
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
PG	0.72	0.07	(0.07)	(0.49)	0.83	(0.78)	1.74	(1.26)	4.66
IBM	0.95	0.11	0.05	0.25	1.30	(0.94)	2.22	(1.70)	8.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in MACYS 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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