Macys Correlations

M Stock

USD 13.58 0.64 4.95%

The current 90-days correlation between Macys Inc and Kohls is 0.59 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Macys moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Macys Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Macys Correlation With Market

Very weak diversification

The correlation between Macys Inc and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macys Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Macys Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Macys Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Macys Stock

0.68	HD	Home Depot	Pair Corr
0.71	VIPS	Vipshop Holdings	Pair Corr
0.74	ANF	Abercrombie Fitch Earnings Call This Week	Pair Corr
0.72	BKE	Buckle Inc	Pair Corr
0.72	GES	Guess Inc Trending	Pair Corr
0.61	PDD	PDD Holdings Earnings Call This Week	Pair Corr
0.84	SCVL	Shoe Carnival	Pair Corr
0.8	BURL	Burlington Stores Earnings Call This Week	Pair Corr
0.61	URBN	Urban Outfitters Earnings Call This Week	Pair Corr
0.72	F	Ford Motor Aggressive Push	Pair Corr
0.61	BH	Biglari Holdings	Pair Corr
0.69	RL	Ralph Lauren Corp	Pair Corr
0.82	BZH	Beazer Homes USA	Pair Corr
0.77	CCS	Century Communities	Pair Corr

Moving against Macys Stock

0.46	KXIN	Kaixin Auto Holdings	Pair Corr
0.68	DUOL	Duolingo	Pair Corr
0.53	DRI	Darden Restaurants	Pair Corr
0.46	WING	Wingstop	Pair Corr
0.46	EWCZ	European Wax Center	Pair Corr
0.44	CMG	Chipotle Mexican Grill	Pair Corr
0.4	GV	Visionary Education	Pair Corr
0.39	DIN	Dine Brands Global	Pair Corr
0.32	LI	Li Auto Earnings Call This Week	Pair Corr
0.67	UTI	Universal Technical	Pair Corr

Related Correlations Analysis

	KSS	DDS	MAKSY	MAKSF	GAP	TGT	BBY
KSS		0.93	-0.54	-0.8	-0.51	0.74	0.17	KSS
DDS	0.93		-0.62	-0.83	-0.42	0.78	0.15	DDS
MAKSY	-0.54	-0.62		0.64	0.53	-0.76	0.11	MAKSY
MAKSF	-0.8	-0.83	0.64		0.37	-0.69	-0.04	MAKSF
GAP	-0.51	-0.42	0.53	0.37		-0.46	0.23	GAP
TGT	0.74	0.78	-0.76	-0.69	-0.46		0.18	TGT
BBY	0.17	0.15	0.11	-0.04	0.23	0.18		BBY
	KSS	DDS	MAKSY	MAKSF	GAP	TGT	BBY

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

DDS	+ 0.93	KSS
TGT	+ 0.78	DDS
TGT	+ 0.74	KSS
MAKSF	+ 0.64	MAKSY
GAP	+ 0.53	MAKSY
GAP	+ 0.37	MAKSF

High negative correlations

MAKSF	- 0.83	DDS
MAKSF	- 0.8	KSS
TGT	- 0.76	MAKSY
TGT	- 0.69	MAKSF
MAKSY	- 0.62	DDS
MAKSY	- 0.54	KSS

Risk-Adjusted Indicators

There is a big difference between Macys Stock performing well and Macys 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 Macys' 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
KSS	4.05	0.73	0.18	0.36	4.11	(4.51)	9.80	(6.88)	51.85
DDS	1.77	0.22	0.13	0.22	1.85	(1.94)	4.55	(3.47)	13.61
MAKSY	1.37	(0.07)	0.00	(0.10)	0.00	0.00	2.77	(2.51)	10.47
MAKSF	0.80	0.06	(0.02)	0.00	1.47	(6.58)	0.74	(3.12)	25.21
GAP	1.82	(0.44)	0.00	(0.28)	0.00	0.00	3.47	(3.49)	25.20
TGT	1.63	(0.12)	(0.02)	0.03	2.08	(1.63)	3.51	(2.64)	11.61
BBY	1.75	(0.04)	0.01	0.07	2.11	(1.94)	3.63	(2.93)	10.56

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