Macerich Correlations

MAC Stock

USD 17.21 0.07 0.41%

The current 90-days correlation between Macerich and Kimco Realty is 0.44 (i.e., Very weak 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

Very good diversification

The correlation between Macerich Company and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Macerich Company 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 Macerich Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Macerich Stock

0.66	Z	Zillow Group Class	Pair Corr
0.86	EQIX	Equinix	Pair Corr
0.72	BXP	Boston Properties	Pair Corr
0.72	DLR	Digital Realty Trust	Pair Corr
0.73	IRM	Iron Mountain	Pair Corr
0.63	KRC	Kilroy Realty Corp	Pair Corr
0.77	OUT	Outfront Media Sell-off Trend	Pair Corr
0.63	PDM	Piedmont Office Realty	Pair Corr
0.82	SLG	SL Green Realty	Pair Corr
0.86	XHR	Xenia Hotels Resorts	Pair Corr
0.7	LAMR	Lamar Advertising	Pair Corr
0.78	OPINL	Office Properties Income	Pair Corr

Moving against Macerich Stock

0.76	AMT	American Tower Corp	Pair Corr
0.7	BNL	Broadstone Net Lease	Pair Corr
0.65	LXP	LXP Industrial Trust	Pair Corr
0.33	ARE	Alexandria Real Estate	Pair Corr
0.69	INVH	Invitation Homes	Pair Corr
0.62	NTST	Netstreit Corp	Pair Corr
0.62	SBAC	SBA Communications Corp	Pair Corr
0.48	RYN	Rayonier	Pair Corr
0.48	GLPI	Gaming Leisure Properties	Pair Corr
0.46	PCH	PotlatchDeltic Corp	Pair Corr
0.4	GNL-PD	Global Net Lease	Pair Corr
0.64	DX	Dynex Capital	Pair Corr
0.63	O	Realty Income	Pair Corr
0.53	STAG	STAG Industrial	Pair Corr
0.5	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.42	FR	First Industrial Realty	Pair Corr
0.39	CSGP	CoStar Group	Pair Corr

Related Correlations Analysis

	KIM	REG	SITC	FRT	O	NNN	GTY	BRX	SKT	UBA
KIM		0.15	0.76	0.83	-0.62	-0.31	0.02	0.54	0.29	0.0	KIM
REG	0.15		-0.12	0.28	0.46	0.66	0.56	0.7	0.71	0.0	REG
SITC	0.76	-0.12		0.85	-0.73	-0.66	-0.14	0.37	0.16	0.0	SITC
FRT	0.83	0.28	0.85		-0.56	-0.41	0.11	0.59	0.32	0.0	FRT
O	-0.62	0.46	-0.73	-0.56		0.84	0.59	-0.02	0.22	0.0	O
NNN	-0.31	0.66	-0.66	-0.41	0.84		0.51	0.31	0.43	0.0	NNN
GTY	0.02	0.56	-0.14	0.11	0.59	0.51		0.21	0.3	0.0	GTY
BRX	0.54	0.7	0.37	0.59	-0.02	0.31	0.21		0.75	0.0	BRX
SKT	0.29	0.71	0.16	0.32	0.22	0.43	0.3	0.75		0.0	SKT
UBA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		UBA
	KIM	REG	SITC	FRT	O	NNN	GTY	BRX	SKT	UBA

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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

FRT	+ 0.85	SITC
NNN	+ 0.84	O
FRT	+ 0.83	KIM
SITC	+ 0.76	KIM
SKT	+ 0.75	BRX
SKT	+ 0.71	REG

High negative correlations

O	- 0.73	SITC
NNN	- 0.66	SITC
O	- 0.62	KIM
O	- 0.56	FRT
NNN	- 0.41	FRT
NNN	- 0.31	KIM

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
KIM	1.14	(0.24)	0.00	0.54	0.00	0.00	2.14	(3.06)	5.80
REG	0.98	0.00	0.00	(0.08)	0.00	0.00	1.76	(2.67)	6.34
SITC	1.18	(0.27)	0.00	7.30	0.00	0.00	2.14	(2.91)	8.55
FRT	1.10	(0.16)	0.00	(0.28)	0.00	0.00	1.66	(2.78)	9.26
O	0.96	0.08	0.09	0.19	1.26	(0.92)	2.00	(2.00)	6.11
NNN	1.09	0.03	0.05	(0.01)	1.45	(1.01)	1.98	(2.32)	7.72
GTY	0.97	(0.03)	0.00	(0.14)	0.00	0.00	2.21	(2.10)	4.93
BRX	1.14	(0.10)	0.00	(0.24)	0.00	0.00	1.92	(2.41)	6.74
SKT	1.09	(0.13)	0.00	0.40	0.00	0.00	2.58	(2.55)	7.90
UBA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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