Target Correlations

TGT Stock

USD 127.39 1.62 1.29%

The current 90-days correlation between Target and Aquagold International is -0.02 (i.e., Good diversification). The correlation of Target 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.

Target Correlation With Market

Good diversification

The correlation between Target and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Target Stock please use our How to Invest in Target guide.

Moving against Target Stock

0.46	SPTN	SpartanNash	Pair Corr
0.46	KO	Coca Cola Aggressive Push	Pair Corr
0.38	PG	Procter Gamble	Pair Corr
0.37	PM	Philip Morris Intern	Pair Corr
0.33	BJ	BJs Wholesale Club Earnings Call This Week	Pair Corr
0.33	KR	Kroger Company	Pair Corr
0.31	MO	Altria Group	Pair Corr
0.43	FARM	Farmer Bros	Pair Corr
0.4	CENTA	Central Garden Pet	Pair Corr
0.34	YI	111 Inc	Pair Corr
0.32	WILC	G Willi Food	Pair Corr

Related Correlations Analysis

	TGT	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL
TGT		-0.13	-0.11	-0.27	0.06	-0.28	0.12	0.31	-0.28	-0.34	TGT
AQUI	-0.13		-0.3	0.89	-0.95	0.59	-0.73	-0.7	0.7	-0.22	AQUI
LBHIX	-0.11	-0.3		0.03	0.39	0.48	-0.01	0.34	-0.26	0.77	LBHIX
MSTSX	-0.27	0.89	0.03		-0.81	0.84	-0.68	-0.72	0.68	0.1	MSTSX
VIASP	0.06	-0.95	0.39	-0.81		-0.46	0.68	0.69	-0.71	0.37	VIASP
RRTLX	-0.28	0.59	0.48	0.84	-0.46		-0.62	-0.5	0.44	0.48	RRTLX
OSHDF	0.12	-0.73	-0.01	-0.68	0.68	-0.62		0.65	-0.65	0.09	OSHDF
70082LAB3	0.31	-0.7	0.34	-0.72	0.69	-0.5	0.65		-0.62	0.12	70082LAB3
SITKF	-0.28	0.7	-0.26	0.68	-0.71	0.44	-0.65	-0.62		-0.08	SITKF
RWAYL	-0.34	-0.22	0.77	0.1	0.37	0.48	0.09	0.12	-0.08		RWAYL
	TGT	AQUI	LBHIX	MSTSX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL

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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

MSTSX	+ 0.89	AQUI
RRTLX	+ 0.84	MSTSX
RWAYL	+ 0.77	LBHIX
SITKF	+ 0.7	AQUI
70082LAB3	+ 0.69	VIASP
SITKF	+ 0.68	MSTSX

High negative correlations

VIASP	- 0.95	AQUI
VIASP	- 0.81	MSTSX
OSHDF	- 0.73	AQUI
70082LAB3	- 0.72	MSTSX
SITKF	- 0.71	VIASP
70082LAB3	- 0.7	AQUI

Risk-Adjusted Indicators

There is a big difference between Target Stock performing well and Target 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 Target'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
TGT	1.58	(0.24)	0.00	2.74	0.00	0.00	2.81	(2.92)	21.41
AQUI	4.21	(2.17)	0.00	0.66	0.00	0.00	0.00	0.00	93.33
LBHIX	0.14	0.02	0.05	1.13	0.00	(0.31)	0.47	(0.24)	0.96
MSTSX	0.55	(0.07)	0.00	(0.15)	0.00	0.00	1.11	(0.92)	6.54
VIASP	0.60	0.09	0.11	0.44	0.64	(0.63)	1.10	(1.18)	4.05
RRTLX	0.26	(0.02)	0.00	0.22	0.00	0.00	0.57	(0.49)	1.79
OSHDF	8.81	4.30	0.00	0.13	0.00	0.00	0.00	0.00	260.00
70082LAB3	0.47	(0.17)	0.00	(0.74)	0.00	0.00	0.57	(2.17)	5.34
SITKF	3.62	0.07	0.01	(0.64)	4.11	(6.65)	10.00	(6.67)	29.67
RWAYL	0.17	0.03	0.09	(0.95)	0.12	(0.19)	0.49	(0.36)	1.51

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