Macerich Correlations

M6G Stock

EUR 19.23 0.35 1.85%

The current 90-days correlation between Macerich and Kimco Realty is 0.26 (i.e., Modest diversification). The correlation of Macerich 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.

Macerich Correlation With Market

Average diversification

The correlation between The Macerich and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Macerich and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Macerich Stock

0.93	SQI	Simon Property Group	Pair Corr
0.85	L5R	Link Real Estate	Pair Corr
0.86	KIC	Kimco Realty	Pair Corr
0.93	RRC	Range Resources Corp	Pair Corr
0.87	BXR	Brixmor Property	Pair Corr
0.71	AGL	AGREE RLTY P	Pair Corr
0.84	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.86	GLE	Gladstone Commercial	Pair Corr
0.83	TM5	T Mobile	Pair Corr
0.88	APC	Apple Inc	Pair Corr
0.87	NSE	Nomura Holdings	Pair Corr
0.69	TSFA	Taiwan Semiconductor	Pair Corr
0.91	6GAA	Grupo Aval Acciones	Pair Corr
0.66	CSA	Accenture plc	Pair Corr
0.89	NY70	MOLSON RS BEVERAGE	Pair Corr
0.83	ZIM	Zimmer Biomet Holdings	Pair Corr
0.78	108	Sumitomo Rubber Indu	Pair Corr
0.85	3EC	Eaton PLC	Pair Corr
0.73	CEK	CEOTRONICS	Pair Corr
0.88	TL0	Tesla Inc	Pair Corr
0.81	BRYN	Berkshire Hathaway	Pair Corr
0.86	GKD	Grand Canyon Education	Pair Corr
0.95	UFH	US Foods Holding	Pair Corr

Moving against Macerich Stock

0.94	99Q	ENTREPARTICULIERS EO	Pair Corr
0.82	CJ8A	CARGOJET INC VAR	Pair Corr
0.8	KPR	Klpierre SA	Pair Corr
0.73	C98	Vicinity Centres	Pair Corr
0.64	6FO	GOODTECH ASA A	Pair Corr
0.6	RY6	Realty Income	Pair Corr
0.37	7EL	Elis SA	Pair Corr
0.36	DFXN	SIERRA METALS	Pair Corr
0.48	CN6	BII Railway Transpor	Pair Corr

Related Correlations Analysis

	SQI	RY6	KIC	RRC	KPR	BXR	C98	AGL
SQI		-0.48	0.95	0.95	-0.68	0.95	-0.65	0.87	SQI
RY6	-0.48		-0.41	-0.62	0.85	-0.42	0.78	-0.18	RY6
KIC	0.95	-0.41		0.92	-0.59	0.97	-0.61	0.91	KIC
RRC	0.95	-0.62	0.92		-0.8	0.92	-0.73	0.8	RRC
KPR	-0.68	0.85	-0.59	-0.8		-0.64	0.73	-0.42	KPR
BXR	0.95	-0.42	0.97	0.92	-0.64		-0.55	0.92	BXR
C98	-0.65	0.78	-0.61	-0.73	0.73	-0.55		-0.37	C98
AGL	0.87	-0.18	0.91	0.8	-0.42	0.92	-0.37		AGL
	SQI	RY6	KIC	RRC	KPR	BXR	C98	AGL

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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

BXR	+ 0.97	KIC
KIC	+ 0.95	SQI
RRC	+ 0.95	SQI
BXR	+ 0.95	SQI
RRC	+ 0.92	KIC
BXR	+ 0.92	RRC

High negative correlations

KPR	- 0.8	RRC
C98	- 0.73	RRC
KPR	- 0.68	SQI
C98	- 0.65	SQI
BXR	- 0.64	KPR
RRC	- 0.62	RY6

Risk-Adjusted Indicators

There is a big difference between Macerich Stock performing well and Macerich 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 Macerich'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
SQI	0.98	0.15	0.10	0.31	1.09	(1.02)	2.01	(2.01)	7.67
RY6	0.84	(0.13)	0.00	2.10	0.00	0.00	1.70	(1.93)	5.48
KIC	0.89	0.08	0.05	0.22	0.90	(1.16)	1.84	(1.79)	5.39
RRC	0.75	0.14	0.08	0.78	0.78	(0.98)	1.50	(1.54)	3.67
KPR	0.67	(0.10)	0.00	(0.43)	0.00	0.00	1.15	(1.69)	4.83
BXR	0.89	0.07	0.03	0.21	1.06	(1.23)	1.64	(2.26)	6.35
C98	0.98	(0.19)	0.00	(1.88)	0.00	0.00	1.67	(2.34)	4.84
AGL	0.85	0.02	(0.01)	0.19	1.09	(0.91)	1.56	(1.61)	7.66

Be your own money manager

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