CITY OFFICE Correlations

5QV Stock

EUR 4.68 0.04 0.86%

The current 90-days correlation between CITY OFFICE REIT and SIDETRADE EO 1 is 0.08 (i.e., Significant diversification). The correlation of CITY OFFICE 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.

CITY OFFICE Correlation With Market

Modest diversification

The correlation between CITY OFFICE REIT and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CITY OFFICE REIT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CITY OFFICE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CITY OFFICE 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 CITY OFFICE - 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 CITY OFFICE REIT to buy it.

Moving together with CITY Stock

0.82	BO9	Boston Properties	Pair Corr
0.66	CPZ1	COUSINS PTIES INC	Pair Corr
0.77	E05	Easterly Government	Pair Corr
0.74	GOKA	Office Properties Income	Pair Corr
0.65	3AZ	ARIMA REAL ESTSOC	Pair Corr
0.69	74F	LIFE BANC SPLIT	Pair Corr
0.64	CBHD	Coloplast A/S	Pair Corr

Moving against CITY Stock

0.76	RHM	Rheinmetall AG	Pair Corr
0.72	XTP	Sino AG	Pair Corr
0.72	5TP	BLUE LABEL	Pair Corr
0.71	9EE	ZINZINO AB B	Pair Corr
0.69	3RE	Rejlerkoncernen AB	Pair Corr
0.67	GOC	Star Diamond Earnings Call Tomorrow	Pair Corr
0.6	ROI	Rosenbauer International	Pair Corr
0.58	ROM	Rohm Co	Pair Corr
0.55	SOBA	ATT Inc	Pair Corr
0.54	PKX	POSCO Holdings	Pair Corr
0.51	NMM	Newmont	Pair Corr
0.47	9Y2	LABOCANNA SA ZY	Pair Corr
0.31	SG9	Strix Group Plc Earnings Call Tomorrow	Pair Corr
0.76	DUBA	DRDGold	Pair Corr
0.75	KONN	Komercn banka as	Pair Corr
0.74	JYS1	JYSKE BANK	Pair Corr
0.74	BSN	Danone SA	Pair Corr
0.71	DBPE	Xtrackers LevDAX	Pair Corr
0.7	TKA	thyssenkrupp AG	Pair Corr
0.66	BY6A	BYD Limited Earnings Call Tomorrow	Pair Corr
0.65	6BW	BW ENERGY LTD	Pair Corr
0.65	VOL3	VOLVO -A-	Pair Corr
0.63	AG9	ACTIA GROUP SA	Pair Corr
0.62	TLLB	Trelleborg AB	Pair Corr
0.61	GIS	General Mills	Pair Corr
0.61	PEH	PEH WERTPAPIER	Pair Corr
0.6	KGHA	KGHM Polska Miedz Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CZ2	UWS	1C6	7QG	PIJ	R6N	A3J	HKU
CZ2		0.43	0.51	0.38	-0.31	0.52	0.2	0.37	CZ2
UWS	0.43		0.8	0.83	-0.06	0.05	0.42	0.7	UWS
1C6	0.51	0.8		0.74	0.18	0.06	0.67	0.69	1C6
7QG	0.38	0.83	0.74		-0.23	0.14	0.22	0.68	7QG
PIJ	-0.31	-0.06	0.18	-0.23		-0.44	0.52	0.12	PIJ
R6N	0.52	0.05	0.06	0.14	-0.44		-0.21	0.2	R6N
A3J	0.2	0.42	0.67	0.22	0.52	-0.21		0.47	A3J
HKU	0.37	0.7	0.69	0.68	0.12	0.2	0.47		HKU
	CZ2	UWS	1C6	7QG	PIJ	R6N	A3J	HKU

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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

7QG	+ 0.83	UWS
1C6	+ 0.8	UWS
7QG	+ 0.74	1C6
HKU	+ 0.7	UWS
HKU	+ 0.69	1C6
HKU	+ 0.68	7QG

High negative correlations

R6N	- 0.44	PIJ
PIJ	- 0.31	CZ2
PIJ	- 0.23	7QG
A3J	- 0.21	R6N
PIJ	- 0.06	UWS

Risk-Adjusted Indicators

There is a big difference between CITY Stock performing well and CITY OFFICE 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 CITY OFFICE'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
CZ2	1.05	(0.06)	0.00	1.81	0.00	0.00	1.81	(2.29)	7.28
UWS	0.85	0.05	0.09	0.17	1.07	(0.80)	1.74	(1.54)	7.35
1C6	1.82	0.03	0.04	(0.21)	2.20	(2.46)	4.38	(4.54)	15.50
7QG	1.73	0.27	0.18	2.57	1.67	(2.12)	4.86	(2.71)	16.32
PIJ	2.50	(0.23)	0.00	5.08	0.00	0.00	5.26	(5.13)	28.43
R6N	0.87	0.04	0.09	(2.19)	1.00	(1.00)	1.74	(1.77)	5.63
A3J	1.61	(0.10)	0.00	(0.59)	0.00	0.00	2.65	(4.00)	12.49
HKU	1.26	0.08	0.07	0.49	1.50	(1.62)	2.92	(2.82)	10.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in CITY OFFICE 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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