Macerich Correlations

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.

Build AI portfolio with Macerich Stock

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Macerich Stock

0.68	DIS	Walt Disney	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against Macerich Stock

0.51	TUXS	Tuxis	Pair Corr
0.47	INTC	Intel Aggressive Push	Pair Corr
0.45	SZKMF	Suzuki Motor	Pair Corr
0.43	IBM	International Business	Pair Corr
0.4	MRK	Merck Company Aggressive Push	Pair Corr
0.4	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	GZITF	GPAIF	DGWR	AVGO	GIII	YTRA	SBGI
GZITF		0.0	0.7	0.22	0.37	0.05	0.7	GZITF
GPAIF	0.0		0.0	0.0	0.0	0.0	0.0	GPAIF
DGWR	0.7	0.0		0.18	0.4	0.35	0.61	DGWR
AVGO	0.22	0.0	0.18		0.29	0.27	-0.07	AVGO
GIII	0.37	0.0	0.4	0.29		-0.03	0.26	GIII
YTRA	0.05	0.0	0.35	0.27	-0.03		-0.09	YTRA
SBGI	0.7	0.0	0.61	-0.07	0.26	-0.09		SBGI
	GZITF	GPAIF	DGWR	AVGO	GIII	YTRA	SBGI

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

DGWR	+ 0.7	GZITF
SBGI	+ 0.7	GZITF
SBGI	+ 0.61	DGWR
GIII	+ 0.4	DGWR
GIII	+ 0.37	GZITF
YTRA	+ 0.35	DGWR

High negative correlations

SBGI	- 0.09	YTRA
SBGI	- 0.07	AVGO
YTRA	- 0.03	GIII
SBGI	- 0.0	GPAIF
YTRA	- 0.0	GPAIF
GIII	- 0.0	GPAIF

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
GZITF	0.05	0.02	0.00	(0.51)	0.00	0.00	0.00	0.00	1.75
GPAIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DGWR	0.87	0.35	0.00	0.30	0.00	0.00	0.00	0.00	25.00
AVGO	2.23	0.40	0.17	0.58	1.98	(2.53)	9.41	(3.65)	15.68
GIII	1.44	0.07	0.04	0.07	1.95	(1.43)	3.63	(3.25)	8.63
YTRA	2.76	0.21	0.05	0.27	3.08	(3.77)	6.04	(5.41)	22.55
SBGI	1.65	0.23	0.12	1.05	1.59	(1.94)	3.44	(2.83)	22.96

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