Correlation Analysis Between Target and Dollar Tree

This module allows you to analyze existing cross correlation between Target Corporation and Dollar Tree. You can compare the effects of market volatilities on Target and Dollar Tree and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Target with a short position of Dollar Tree. See also your portfolio center. Please also check ongoing floating volatility patterns of Target and Dollar Tree.
 Time Horizon     30 Days    Login   to change

Target Corp.  vs.  Dollar Tree Inc

 Performance (%) 

Pair Volatility

Considering 30-days investment horizon, Target Corporation is expected to generate 1.0 times more return on investment than Dollar Tree. However, Target Corporation is 1.0 times less risky than Dollar Tree. It trades about 0.15 of its potential returns per unit of risk. Dollar Tree is currently generating about 0.0 per unit of risk. If you would invest  7,539  in Target Corporation on June 20, 2018 and sell it today you would earn a total of  237.00  from holding Target Corporation or generate 3.14% return on investment over 30 days.

Pair Corralation between Target and Dollar Tree

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Target Corp. and Dollar Tree Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Dollar Tree and Target is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Target Corporation are associated (or correlated) with Dollar Tree. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dollar Tree has no effect on the direction of Target i.e. Target and Dollar Tree go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Target Corporation are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Dollar Tree  

Risk-Adjusted Performance

Over the last 30 days Dollar Tree has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.