Macerich Correlations

M6G Stock  EUR 19.23  0.35  1.85%   
The current 90-days correlation between Macerich and MELIA HOTELS is 0.15 (i.e., Average diversification). 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.

Macerich Correlation With Market

Average diversification

The correlation between The Macerich and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Macerich and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Macerich could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Macerich 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 Macerich - 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 The Macerich to buy it.

Moving together with Macerich Stock

  0.93SQI Simon Property GroupPairCorr
  0.89KIC Kimco RealtyPairCorr
  0.94RRC Range Resources CorpPairCorr
  0.87BXR Brixmor PropertyPairCorr
  0.71AGL AGREE RLTY PPairCorr
  0.84ESLC ESSILORLUXOTTICA 12ONPairCorr
  0.86GLE Gladstone CommercialPairCorr
  0.83TM5 T MobilePairCorr
  0.88APC Apple IncPairCorr
  0.87NSE Nomura HoldingsPairCorr
  0.69TSFA Taiwan SemiconductorPairCorr
  0.916GAA Grupo Aval AccionesPairCorr
  0.66CSA Accenture plcPairCorr
  0.89NY70 MOLSON RS BEVERAGEPairCorr
  0.83ZIM Zimmer Biomet HoldingsPairCorr
  0.78108 Sumitomo Rubber InduPairCorr
  0.853EC Eaton PLCPairCorr
  0.73CEK CEOTRONICSPairCorr
  0.88TL0 Tesla IncPairCorr
  0.81BRYN Berkshire HathawayPairCorr
  0.86GKD Grand Canyon EducationPairCorr
  0.95UFH US Foods HoldingPairCorr
  0.94MAQ Marriott InternationalPairCorr

Moving against Macerich Stock

  0.9399Q ENTREPARTICULIERS EOPairCorr
  0.82CJ8A CARGOJET INC VARPairCorr
  0.8KPR Klpierre SAPairCorr
  0.73C98 Vicinity CentresPairCorr
  0.676FO GOODTECH ASA APairCorr
  0.56RY6 Realty IncomePairCorr
  0.317EL Elis SAPairCorr
  0.36DFXN SIERRA METALSPairCorr
  0.48CN6 BII Railway TransporPairCorr

Related Correlations Analysis

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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   
PL01HTA
UUECRSO
UF2RSO
PL0MEL
PL0UUEC
PL0UF2
  
High negative correlations   
VB2MEL
UF2VB2
VB2RSO
PL0VB2
1HTAVB2
VB2UUEC

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Macerich 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.

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