Target Correlations
TGT Stock | USD 163.32 1.69 1.02% |
The correlation of Target 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Target moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Target moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Target and NYA is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Target and NYA in the same portfolio, assuming nothing else is changed.
Target |
The ability to find closely correlated positions to Target could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Target when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Target - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Target to buy it.
Moving together with Target Stock
0.72 | GO | Grocery Outlet Holding Financial Report 14th of May 2024 | PairCorr |
0.91 | WMT | Walmart Sell-off Trend | PairCorr |
0.8 | BG | Bunge Limited Financial Report 1st of May 2024 | PairCorr |
0.92 | BJ | BJs Wholesale Club Financial Report 28th of May 2024 | PairCorr |
0.89 | CL | Colgate Palmolive Report 26th of April 2024 | PairCorr |
0.95 | DG | Dollar General Financial Report 6th of June 2024 | PairCorr |
0.66 | EL | Estee Lauder Companies Financial Report 1st of May 2024 | PairCorr |
0.95 | KR | Kroger Company Sell-off Trend | PairCorr |
0.78 | MO | Altria Group Financial Report 25th of April 2024 | PairCorr |
Moving against Target Stock
0.88 | IH | IhumanInc | PairCorr |
0.86 | HFFG | Hf Foods Group | PairCorr |
0.78 | CBD | Companhia Brasileira Financial Report 2nd of May 2024 | PairCorr |
0.66 | YI | 111 Inc | PairCorr |
0.53 | WBUY | WEBUY GLOBAL LTD | PairCorr |
0.45 | LW | Lamb Weston Holdings Financial Report 23rd of July 2024 | PairCorr |
Related Correlations Analysis
0.61 | 0.41 | 0.56 | 0.75 | -0.51 | COST | ||
0.61 | -0.2 | 0.89 | 0.92 | -0.77 | BJ | ||
0.41 | -0.2 | -0.06 | -0.05 | 0.19 | DLTR | ||
0.56 | 0.89 | -0.06 | 0.88 | -0.65 | DG | ||
0.75 | 0.92 | -0.05 | 0.88 | -0.82 | WMT | ||
-0.51 | -0.77 | 0.19 | -0.65 | -0.82 | BIG | ||
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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Risk-Adjusted Indicators
There is a big difference between Target Stock performing well and Target 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 Target'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
COST | 0.84 | 0.05 | 0.03 | 0.11 | 1.48 | 1.57 | 9.39 | |||
BJ | 1.24 | 0.22 | 0.13 | 0.61 | 1.26 | 2.86 | 13.64 | |||
DLTR | 1.38 | (0.15) | 0.00 | (0.13) | 0.00 | 2.27 | 18.04 | |||
DG | 1.40 | 0.08 | 0.04 | 0.12 | 1.72 | 2.99 | 9.91 | |||
WMT | 0.62 | 0.15 | 0.16 | 0.58 | 0.44 | 1.46 | 4.93 | |||
BIG | 4.80 | (0.92) | 0.00 | (0.21) | 0.00 | 11.75 | 34.94 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Target without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Target Corporate Directors
Target corporate directors refer to members of a Target board of directors. The board of directors generally takes responsibility for the Target's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Target's board members must vote for the resolution. The Target board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Mary Minnick | Independent Director | Profile | |
Dmitri Stockton | Independent Director | Profile | |
Monica Lozano | Lead Independent Director | Profile | |
Christine Leahy | Independent Director | Profile |
Already Invested in Target?
The danger of trading Target is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Target is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Target. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Target is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Target is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Target Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Target Stock. Highlighted below are key reports to facilitate an investment decision about Target Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Target. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. For more information on how to buy Target Stock please use our How to Invest in Target guide.Note that the Target information on this page should be used as a complementary analysis to other Target's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Complementary Tools for Target Stock analysis
When running Target's price analysis, check to measure Target's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Target is operating at the current time. Most of Target's value examination focuses on studying past and present price action to predict the probability of Target's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Target's price. Additionally, you may evaluate how the addition of Target to your portfolios can decrease your overall portfolio volatility.
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Is Target's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Target. If investors know Target will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Target listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.574 | Dividend Share 4.36 | Earnings Share 8.93 | Revenue Per Share 232.745 | Quarterly Revenue Growth 0.017 |
The market value of Target is measured differently than its book value, which is the value of Target that is recorded on the company's balance sheet. Investors also form their own opinion of Target's value that differs from its market value or its book value, called intrinsic value, which is Target's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Target's market value can be influenced by many factors that don't directly affect Target's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Target's value and its price as these two are different measures arrived at by different means. Investors typically determine if Target is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Target's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.