Tanger Factory Correlations

SKT Stock

USD 31.40 0.89 2.76%

The current 90-days correlation between Tanger Factory Outlet and Regency Centers is 0.75 (i.e., Poor diversification). The correlation of Tanger Factory 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.

Tanger Factory Correlation With Market

Poor diversification

The correlation between Tanger Factory Outlet and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tanger Factory Outlet and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tanger Factory Outlet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Tanger Stock

0.78	FR	First Industrial Realty	Pair Corr
0.61	PK	Park Hotels Resorts	Pair Corr
0.79	UE	Urban Edge Properties Earnings Call Shortly	Pair Corr
0.74	EQIX	Equinix Earnings Call Shortly	Pair Corr
0.65	ESBA	Empire State Realty Earnings Call Shortly	Pair Corr
0.61	ESRT	Empire State Realty Potential Growth	Pair Corr
0.63	AHH	Armada Hflr Pr Earnings Call Shortly	Pair Corr
0.7	AHT	Ashford Hospitality Trust	Pair Corr
0.73	AIV	Apartment Investment and Earnings Call Shortly	Pair Corr
0.72	AKR	Acadia Realty Trust	Pair Corr
0.84	AVB	AvalonBay Communities	Pair Corr
0.69	BFS	Saul Centers Earnings Call Shortly	Pair Corr
0.61	BRT	BRT Realty Trust Earnings Call Shortly	Pair Corr
0.89	BRX	Brixmor Property	Pair Corr

Moving against Tanger Stock

0.45	ADC	Agree Realty	Pair Corr
0.54	CCI	Crown Castle	Pair Corr
0.44	AMT	American Tower Corp Buyout Trend	Pair Corr

Related Correlations Analysis

	REG	GTY	SITC	BRX	SPG	KIM	NNN	UBA	UBP	BFS
REG		0.64	0.45	0.87	0.75	0.58	0.59	0.0	0.0	0.67	REG
GTY	0.64		0.65	0.57	0.7	0.69	0.31	0.0	0.0	0.93	GTY
SITC	0.45	0.65		0.68	0.87	0.92	-0.23	0.0	0.0	0.81	SITC
BRX	0.87	0.57	0.68		0.89	0.72	0.38	0.0	0.0	0.7	BRX
SPG	0.75	0.7	0.87	0.89		0.82	0.13	0.0	0.0	0.84	SPG
KIM	0.58	0.69	0.92	0.72	0.82		-0.09	0.0	0.0	0.82	KIM
NNN	0.59	0.31	-0.23	0.38	0.13	-0.09		0.0	0.0	0.22	NNN
UBA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	UBA
UBP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	UBP
BFS	0.67	0.93	0.81	0.7	0.84	0.82	0.22	0.0	0.0		BFS
	REG	GTY	SITC	BRX	SPG	KIM	NNN	UBA	UBP	BFS

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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

BFS	+ 0.93	GTY
KIM	+ 0.92	SITC
SPG	+ 0.89	BRX
BRX	+ 0.87	REG
SPG	+ 0.87	SITC
BFS	+ 0.84	SPG

High negative correlations

NNN	- 0.23	SITC
NNN	- 0.09	KIM
BFS	- 0.0	UBP
BFS	- 0.0	UBA
UBP	- 0.0	UBA
UBP	- 0.0	NNN

Risk-Adjusted Indicators

There is a big difference between Tanger Stock performing well and Tanger Factory 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 Tanger Factory'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
REG	1.15	0.12	0.09	0.03	1.59	(1.25)	1.84	(3.42)	8.16
GTY	1.04	(0.06)	0.00	(0.30)	0.00	0.00	2.21	(2.10)	6.66
SITC	1.41	(0.28)	0.00	(0.45)	0.00	0.00	2.15	(3.71)	9.61
BRX	1.46	0.05	0.00	(0.07)	0.00	0.00	1.97	(2.99)	10.49
SPG	1.58	0.04	0.00	(0.10)	0.00	0.00	2.48	(3.83)	13.62
KIM	1.34	(0.05)	0.00	(0.19)	0.00	0.00	2.25	(3.06)	10.24
NNN	1.12	0.15	0.15	0.19	1.44	(1.18)	2.79	(2.04)	10.83
UBA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UBP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BFS	1.11	(0.07)	0.00	(0.26)	0.00	0.00	1.69	(2.56)	7.66

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