Macerich Correlations

MAC Stock

USD 16.57 0.06 0.36%

The current 90-days correlation between Macerich and Tanger Factory Outlet is 0.73 (i.e., Poor 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

Poor diversification

The correlation between Macerich Company and DJI is 0.63 (i.e., Poor 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.

Build AI portfolio with Macerich Stock

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

0.76	Z	Zillow Group Class	Pair Corr
0.77	FR	First Industrial Realty	Pair Corr
0.75	PK	Park Hotels Resorts	Pair Corr
0.78	UE	Urban Edge Properties	Pair Corr
0.64	WY	Weyerhaeuser Earnings Call This Week	Pair Corr
0.87	ELME	Elme Communities	Pair Corr
0.67	WELL	Welltower	Pair Corr
0.79	ESBA	Empire State Realty	Pair Corr
0.83	ESRT	Empire State Realty Earnings Call This Week	Pair Corr
0.87	AAT	American Assets Trust	Pair Corr
0.69	AHH	Armada Hflr Pr	Pair Corr
0.93	AHR	American Healthcare REIT,	Pair Corr
0.81	AIV	Apartment Investment and	Pair Corr
0.85	BDN	Brandywine Realty Trust Earnings Call This Week	Pair Corr
0.79	BXP	Boston Properties Sell-off Trend	Pair Corr
0.86	CDP	COPT Defense Properties	Pair Corr
0.71	CIO	City Office	Pair Corr
0.81	CUZ	Cousins Properties	Pair Corr
0.87	DEA	Eerly Govt Ppty	Pair Corr
0.78	DEI	Douglas Emmett	Pair Corr
0.81	EGP	EastGroup Properties Earnings Call This Week	Pair Corr
0.93	HIW	Highwoods Properties Earnings Call This Week	Pair Corr
0.85	INN	Summit Hotel Properties	Pair Corr
0.8	KRC	Kilroy Realty Corp	Pair Corr
0.89	LXP	LXP Industrial Trust	Pair Corr

Moving against Macerich Stock

0.7	WHLR	Wheeler Real Estate	Pair Corr
0.57	FCPT	Four Corners Property	Pair Corr
0.79	ADC	Agree Realty Earnings Call This Week	Pair Corr
0.82	MPW	Medical Properties Trust	Pair Corr
0.74	NHI	National Health Investors	Pair Corr
0.59	OPI	Office Properties Income	Pair Corr
0.59	NXRT	Nexpoint Residential	Pair Corr

Related Correlations Analysis

	SKT	SPG	KIM	REG	NNN	SLG	VNO
SKT		-0.01	0.17	-0.25	0.06	-0.04	-0.32	SKT
SPG	-0.01		0.82	0.18	0.68	0.63	0.62	SPG
KIM	0.17	0.82		0.04	0.74	0.76	0.64	KIM
REG	-0.25	0.18	0.04		-0.28	-0.17	0.18	REG
NNN	0.06	0.68	0.74	-0.28		0.75	0.54	NNN
SLG	-0.04	0.63	0.76	-0.17	0.75		0.79	SLG
VNO	-0.32	0.62	0.64	0.18	0.54	0.79		VNO
	SKT	SPG	KIM	REG	NNN	SLG	VNO

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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

KIM	+ 0.82	SPG
VNO	+ 0.79	SLG
SLG	+ 0.76	KIM
SLG	+ 0.75	NNN
NNN	+ 0.74	KIM
NNN	+ 0.68	SPG

High negative correlations

VNO	- 0.32	SKT
NNN	- 0.28	REG
REG	- 0.25	SKT
SLG	- 0.17	REG
SLG	- 0.04	SKT
SPG	- 0.01	SKT

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
SKT	1.27	(0.13)	(0.07)	0.00	1.92	(1.15)	2.06	(3.08)	7.90
SPG	0.99	0.00	0.01	0.13	1.39	(1.06)	2.18	(1.70)	11.21
KIM	1.03	0.00	(0.01)	0.14	1.17	(1.12)	2.11	(1.98)	8.10
REG	0.74	(0.08)	(0.14)	0.00	0.94	(0.80)	1.68	(1.33)	4.63
NNN	0.78	0.14	0.00	(1.26)	0.78	(0.87)	2.04	(1.56)	5.12
SLG	1.58	0.10	0.06	0.21	2.01	(1.68)	3.71	(4.08)	11.18
VNO	1.49	0.24	0.04	(2.09)	1.95	(1.48)	3.34	(3.36)	10.36

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