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Benchmark  United States  NYSE  11,046   36.629 Index Moved Up 0.33%  


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Correlation analysis between T.J. Maxx and Macys

   
Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between The TJX Companies Inc and Macys Inc. You can compare the effects of market volatilities on T.J. Maxx and Macys 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 T.J. Maxx with a short position of Macys. Please also check ongoing floating volatility patterns of T.J. Maxx and Macys.
 
 The TJX Companies Inc.  vs   Macys Inc.
Daily Returns (%)
TJX   M   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, The TJX Companies Inc is expected to generate 1.25 times more return on investment than Macys. However, T.J. Maxx is 1.25 times more volatile than Macys Inc. It trades about 0.24 of its potential returns per unit of risk. Macys Inc is currently generating about 0.2 per unit of risk. If you would invest  5,329  in The TJX Companies Inc on July 31, 2014 and sell it today you would earn a total of  632  from holding The TJX Companies Inc or generate 11.86% return on investment over 30 days.

Correlation Coefficient

0.52
Parameters
Time Period1 Month [change]
DirectionPositive M Moved Up vs TJX
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification
Overlapping area represents amount of risk that can be diversified away by holding The TJX Companies Inc. and Macys Inc. in the same portfolio assuming nothing else is changed
Investing ideals could easily outperform a given market if properly optimized
  
Macys Report  
  
T.J. Maxx Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
TJX   M   

The TJX Companies

  
Compared with the overall equity markets, risk-adjusted returns on investments in The TJX Companies Inc are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for T.J. Maxx

Macys Inc vs. The TJX Companies Inc
Kohls Corp vs. The TJX Companies Inc
Dillards Inc vs. The TJX Companies Inc
Sears Holdings Corporation vs. The TJX Companies Inc
J C Penney Company Inc vs. The TJX Companies Inc
Belk Inc vs. The TJX Companies Inc
Myer Holdings Limited vs. The TJX Companies Inc
Store One Retail India Ltd vs. The TJX Companies Inc
Alon Blue Square Israel Ltd vs. The TJX Companies Inc
  

Macys Inc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Macys Inc are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Macys

The TJX Companies Inc vs. Macys Inc
Kohls Corp vs. Macys Inc
Dillards Inc vs. Macys Inc
Sears Holdings Corporation vs. Macys Inc
J C Penney Company Inc vs. Macys Inc
Belk Inc vs. Macys Inc
Myer Holdings Limited vs. Macys Inc
Store One Retail India Ltd vs. Macys Inc
Alon Blue Square Israel Ltd vs. Macys Inc


 

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