MACYS Correlations

55616XAC1   98.95  2.64  2.60%   
The correlation of MACYS 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.

MACYS Correlation With Market

Average diversification

The correlation between MACYS RETAIL HLDGS and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MACYS RETAIL HLDGS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MACYS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MACYS 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 MACYS - 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 MACYS RETAIL HLDGS to buy it.

Moving against MACYS Bond

  0.6OBYCF ObayashiPairCorr
  0.57SMLR Semler ScientificPairCorr
  0.55NBIX Neurocrine BiosciencesPairCorr
  0.53FELG Fidelity Covington TrustPairCorr
  0.51JBBB Janus Detroit StreetPairCorr
  0.5PSQH PSQ HoldingsPairCorr
  0.5DMRC DigimarcPairCorr
  0.5IDAT Ishares TrustPairCorr
  0.48PETS PetMed ExpressPairCorr
  0.44784730AB9 US784730AB94PairCorr
  0.43RPG Invesco SP 500PairCorr
  0.42IBLC iShares Blockchain andPairCorr
  0.41ESGLW ESGL Holdings LimitedPairCorr
  0.38HAFC Hanmi Financial Fiscal Year End 28th of January 2025 PairCorr
  0.36FRME First Merchants Fiscal Year End 23rd of January 2025 PairCorr
  0.35ENFR Alerian Energy InfraPairCorr
  0.6PSHAX Short Term FundPairCorr
  0.59SOFR SOFR Symbol ChangePairCorr
  0.59PSDSX Palmer Square UltraPairCorr
  0.57SABA Saba Capital Income Symbol ChangePairCorr
  0.57ARKQ ARK Autonomous TechnologyPairCorr
  0.57ARTFX Artisan High IncomePairCorr
  0.56AAPB GraniteShares ETF TrustPairCorr
  0.55BTC Grayscale Bitcoin MiniPairCorr
  0.54JEPQ JPMorgan Nasdaq EquityPairCorr
  0.54HGOSX Hartford GrowthPairCorr
  0.54HGOVX Hartford GrowthPairCorr
  0.52QJUN First Trust ExchangePairCorr
  0.5MBCZX Massmutual Select Blue Potential GrowthPairCorr
  0.49LOUP Innovator Loup FrontierPairCorr
  0.49AFOZX Alger Funds MidPairCorr

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   
SAPMFNBIX
SAPMFBSIG
BMYMPBSIG
GOOGLNBIX
NBIXBSIG
CSSVBSIG
  
High negative correlations   
GOOGL90331HPL1
NBIX90331HPL1
SAPMF90331HPL1
TRT00108WAF7
GOOGLPTOP
BMYMP00108WAF7

Risk-Adjusted Indicators

There is a big difference between MACYS Bond performing well and MACYS Corporate Bond 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'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
00108WAF7  1.45  0.13  0.05 (0.49) 1.90 
 5.71 
 13.40 
90331HPL1  0.37 (0.02) 0.00 (0.16) 0.00 
 1.39 
 7.15 
BSIG  1.36  0.04  0.03  0.05  1.70 
 2.98 
 11.14 
NBIX  1.22  0.16  0.11  0.20  1.21 
 3.10 
 11.43 
PTOP  12.55  2.14  0.06 (6.50) 12.95 
 50.00 
 83.33 
GOOGL  1.30  0.25  0.13  0.45  1.49 
 3.60 
 9.18 
SAPMF  0.62  0.12  0.00 (0.78) 0.00 
 3.31 
 10.52 
BMYMP  1.61  0.51  0.09 (3.13) 1.57 
 7.23 
 22.13 
TRT  2.55  0.24  0.07  1.17  2.68 
 5.68 
 17.89 
CSSV  2.70  1.41  0.00 (0.62) 0.00 
 0.00 
 90.48 

Be your own money manager

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