I think there are several ASX 200 shares that have been oversold in 2020. The S&P/ASX 200 Index (ASX: XJO) has slumped 19.48% this year and closed at 5,387.30 points on Thursday.
Here are 3 ASX 200 shares that are underperforming the benchmark index, but could be good value right now.
3 dirt-cheap ASX 200 shares to buy today
ASX real estate investment trust (REIT) Mirvac Group (ASX: MGR)'s shares are down 27.90% in 2020. Many sectors have been hit by the coronavirus pandemic sweeping the globe. However, real estate is one that could be a little hard to value right now.
Many retail stores have closed and shopping centres are seeing lower foot traffic. Similarly, offices are empty and many tenants have stopped paying rent in 2020. That's not good news for the ASX 200 REIT's share price in 2020.
However, I think Mirvac could still be good value right now. The group has a strong balance sheet and has historically boasted a strong dividend yield.
The Harvey Norman Holdings Limited (ASX: HVN) share price is another one that is trading at a massive discount right ow. The Aussie retailer's shares are down 30.96% in 2020 and are underperforming the benchmark index.
However, Harvey Norman has a strong online presence, which could help its sales revenue to weather the storm. There's no doubt sales will slump but Harvey Norman is still a solid ASX 200 dividend share.
The retailer's shares are yielding more than 10% right now. While I wouldn't be surprised to see a dividend cut this year, I think the long-term future remains positive.
Macquarie Group Ltd (ASX: MQG) shares are also looking dirt-cheap right now. The ASX 200 banking share is down 27.65% in 2020 but could bounce back strongly.
Macquarie doesn't have the same residential real estate exposure as the other major banks. The group is more heavily involved in investment banking and other major investments that could suffer.
However, with a strong balance sheet and diversified earnings, I think Macquarie is one of those ASX 200 shares that will bounce back strongly in 2021.
