MAC vs. SKT
MAC (Macerich Company) and SKT (Tanger Factory Outlet Centers, Inc.) are both stocks. Both operate in the REIT - Retail industry within the Real Estate sector. Over the past 10 years, MAC returned -6.53%/yr vs 5.95%/yr for SKT. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
MAC vs. SKT - Performance Comparison
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Returns By Period
In the year-to-date period, MAC achieves a 32.30% return, which is significantly higher than SKT's 19.85% return. Over the past 10 years, MAC has underperformed SKT with an annualized return of -6.53%, while SKT has yielded a comparatively higher 5.95% annualized return.
MAC
- 1D
- 1.74%
- 1M
- 9.16%
- YTD
- 32.30%
- 6M
- 30.82%
- 1Y
- 56.16%
- 3Y*
- 37.73%
- 5Y*
- 10.53%
- 10Y*
- -6.53%
SKT
- 1D
- 0.43%
- 1M
- 10.70%
- YTD
- 19.85%
- 6M
- 16.46%
- 1Y
- 35.68%
- 3Y*
- 29.04%
- 5Y*
- 21.94%
- 10Y*
- 5.95%
MAC vs. SKT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAC Macerich Company | 32.30% | -3.72% | 34.48% | 45.69% | -31.57% | 68.49% | -56.69% | -32.18% | -30.56% | -2.81% |
SKT Tanger Factory Outlet Centers, Inc. | 19.85% | 1.39% | 27.71% | 62.06% | 2.68% | 101.59% | -27.28% | -21.33% | -18.99% | -22.30% |
Correlation
The correlation between MAC and SKT is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 1994 | 0.58 |
The correlation between MAC and SKT shifts across timeframes, from 0.58 (all time) to 0.71 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MAC:
-$0.72
SKT:
$1.44
MAC:
6.09
SKT:
5.65
MAC:
$1.01B
SKT:
$596.62M
MAC:
$483.14M
SKT:
$334.96M
MAC:
$669.55M
SKT:
$387.37M
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Return for Risk
MAC vs. SKT — Risk / Return Rank
MAC
SKT
MAC vs. SKT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Macerich Company (MAC) and Tanger Factory Outlet Centers, Inc. (SKT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MAC | SKT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 3.47 | +0.94 |
| Martin ratioReturn relative to average drawdown | 11.51 | 8.75 | +2.76 |
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Drawdowns
MAC vs. SKT - Drawdown Comparison
The maximum MAC drawdown since its inception was -93.29%, which is greater than SKT's maximum drawdown of -87.32%. Use the drawdown chart below to compare losses from any high point for MAC and SKT.
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Drawdown Indicators
| MAC | SKT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.29% | -87.32% | -5.97% |
Max Drawdown (1Y)Largest decline over 1 year | -12.80% | -10.34% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -39.56% | -20.96% | -18.60% |
Max Drawdown (5Y)Largest decline over 5 years | -63.71% | -31.16% | -32.55% |
Max Drawdown (10Y)Largest decline over 10 years | -92.91% | -87.32% | -5.59% |
Current DrawdownCurrent decline from peak | -54.14% | -3.23% | -50.91% |
Average DrawdownAverage peak-to-trough decline | -29.58% | -16.31% | -13.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 4.09% | +0.80% |
Volatility
MAC vs. SKT - Volatility Comparison
Macerich Company (MAC) has a higher volatility of 10.40% compared to Tanger Factory Outlet Centers, Inc. (SKT) at 9.24%. This indicates that MAC's price experiences larger fluctuations and is considered to be riskier than SKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAC | SKT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.40% | 9.24% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 22.26% | 16.21% | +6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.13% | 22.23% | +8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.16% | 31.07% | +10.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.84% | 42.41% | +6.43% |
Dividends
MAC vs. SKT - Dividend Comparison
MAC's dividend yield for the trailing twelve months is around 2.83%, less than SKT's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAC Macerich Company | 2.83% | 3.68% | 3.41% | 4.41% | 5.51% | 3.47% | 10.78% | 11.14% | 6.86% | 4.37% | 3.88% | 5.74% |
SKT Tanger Factory Outlet Centers, Inc. | 3.03% | 3.45% | 3.18% | 3.50% | 8.93% | 3.71% | 7.15% | 9.61% | 6.89% | 5.10% | 3.52% | 3.99% |
Financials
MAC vs. SKT - Financials Comparison
This section allows you to compare key financial metrics between Macerich Company and Tanger Factory Outlet Centers, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MAC vs. SKT - Profitability Comparison
MAC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Macerich Company reported a gross profit of 227.73M and revenue of 241.54M. Therefore, the gross margin over that period was 94.3%.
SKT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tanger Factory Outlet Centers, Inc. reported a gross profit of 103.68M and revenue of 150.42M. Therefore, the gross margin over that period was 68.9%.
MAC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Macerich Company reported an operating income of 158.29M and revenue of 241.54M, resulting in an operating margin of 65.5%.
SKT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tanger Factory Outlet Centers, Inc. reported an operating income of 83.60M and revenue of 150.42M, resulting in an operating margin of 55.6%.
MAC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Macerich Company reported a net income of -36.35M and revenue of 241.54M, resulting in a net margin of -15.1%.
SKT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tanger Factory Outlet Centers, Inc. reported a net income of 28.26M and revenue of 150.42M, resulting in a net margin of 18.8%.
Frequently Asked Questions
MAC and SKT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAC has higher volatility (10.40%) compared to SKT (9.24%). In terms of maximum drawdown, MAC dropped -93.29% vs SKT's -87.32%.
MAC currently has the higher Sharpe Ratio (1.82 vs 1.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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