Macys Correlations

M Stock  USD 13.81  0.73  5.58%   
The current 90-days correlation between Macys Inc and Nordstrom is 0.15 (i.e., Average 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

Modest diversification

The correlation between Macys Inc and DJI is 0.25 (i.e., Modest 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.
  
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 population.

Moving together with Macys Stock

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  0.8VSCO Victorias Secret Buyout TrendPairCorr
  0.68EDUC Educational DevelopmentPairCorr
  0.61WEYS Weyco GroupPairCorr
  0.67ETSY Etsy IncPairCorr
  0.73WINA WinmarkPairCorr
  0.72EVGO Evgo Inc Buyout TrendPairCorr
  0.76WOOF Pet Acquisition LLCPairCorr
  0.85FIVE Five Below Earnings Call TodayPairCorr
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  0.74AKA AKA Brands HoldingPairCorr
  0.82ANF Abercrombie FitchPairCorr
  0.78ASO Academy Sports Outdoors Earnings Call TomorrowPairCorr
  0.72AZI Autozi Internet TechPairCorr
  0.78BBW Build A BearPairCorr
  0.68BGI Birks GroupPairCorr
  0.72BKE Buckle IncPairCorr
  0.78CAL ContinentalPairCorr

Moving against Macys Stock

  0.66VIPS Vipshop HoldingsPairCorr
  0.57JD JD Inc Adr Aggressive PushPairCorr
  0.45EBAY eBay IncPairCorr
  0.42JL J Long GroupPairCorr
  0.62AZO AutoZonePairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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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.