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Benchmark  United States  NYSE  10,530   2.979 Index Moved Down -0.03%  


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Correlation analysis between T.J. Maxx and Macys

 
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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. Please also check ongoing floating volatility patterns of T.J. Maxx and Macys.
 
 The TJX Companies Inc.  vs   Macys Inc.
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Daily Returns (%)
TJX   M   
 
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Considering 30-days investment horizon, The TJX Companies Inc is expected to under-perform the Macys. But the stock apears to be less risky and, when comparing its historical volatility, The TJX Companies Inc is 1.29 times less risky than Macys. The stock trades about -0.16 of its potential returns per unit of risk. The Macys Inc is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest  5,801  in Macys Inc on March 22, 2014 and sell it today you would lose (118.00) from holding Macys Inc or give up 2.03% of portfolio value over 30 days.

Diversification

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

Correlation Coefficient

0.34
Parameters
Time Period1 Month [change]
DirectionPositive M Moved Up vs TJX
StrengthVery Weak
Accuracy94.74%
ValuesDaily Returns
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Predicted Return Density
 
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Returns:   
TJX   M   

The TJX Companies Inc

 
    
Over the last 30 days The TJX Companies Inc has generated negative risk-adjusted returns adding no value to investors with long positions.
    

Match-ups for T.J. Maxx

Macys Inc vs. The TJX Companies Inc
Sears Holdings Corporation vs. The TJX Companies Inc
  

Macys Inc

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

Match-ups for Macys

The TJX Companies Inc vs. Macys Inc
Sears Holdings Corporation vs. Macys Inc