Apartment Investment Correlations

AIV Stock

USD 8.54 0.15 1.73%

The current 90-days correlation between Apartment Investment and and Clipper Realty is 0.12 (i.e., Average diversification). The correlation of Apartment Investment 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Apartment Investment Correlation With Market

Average diversification

The correlation between Apartment Investment and and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apartment Investment and and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Apartment Investment and. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Apartment Stock

0.67	FR	First Industrial Realty	Pair Corr
0.83	WY	Weyerhaeuser	Pair Corr
0.64	WELL	Welltower	Pair Corr

Moving against Apartment Stock

0.75	WHLR	Wheeler Real Estate	Pair Corr
0.66	ESBA	Empire State Realty	Pair Corr
0.54	ESRT	Empire State Realty	Pair Corr
0.49	PK	Park Hotels Resorts	Pair Corr
0.49	UE	Urban Edge Properties	Pair Corr
0.37	PW	Power REIT Earnings Call This Week	Pair Corr
0.7	BHR	Braemar Hotel Resorts	Pair Corr
0.62	BFS	Saul Centers	Pair Corr
0.58	AAT	American Assets Trust	Pair Corr
0.57	FISK	Empire State Realty	Pair Corr
0.56	AMH	American Homes 4	Pair Corr
0.39	AHH	Armada Hflr Pr	Pair Corr
0.37	AKR	Acadia Realty Trust	Pair Corr
0.35	BDN	Brandywine Realty Trust	Pair Corr
0.58	CDP	COPT Defense Properties	Pair Corr
0.48	DLR	Digital Realty Trust	Pair Corr
0.47	CIO	City Office	Pair Corr
0.46	DEI	Douglas Emmett	Pair Corr

Related Correlations Analysis

	CLPR	IRT	BRT	UDR	NXRT	CSR	VRE	AIRC	EQR	MAA
CLPR		0.34	0.42	0.33	0.78	0.71	0.56	0.0	0.28	-0.01	CLPR
IRT	0.34		0.72	0.96	0.47	0.73	0.63	0.0	0.71	0.9	IRT
BRT	0.42	0.72		0.67	0.55	0.67	0.66	0.0	0.43	0.52	BRT
UDR	0.33	0.96	0.67		0.56	0.76	0.73	0.0	0.81	0.89	UDR
NXRT	0.78	0.47	0.55	0.56		0.78	0.82	0.0	0.58	0.17	NXRT
CSR	0.71	0.73	0.67	0.76	0.78		0.82	0.0	0.61	0.49	CSR
VRE	0.56	0.63	0.66	0.73	0.82	0.82		0.0	0.59	0.45	VRE
AIRC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AIRC
EQR	0.28	0.71	0.43	0.81	0.58	0.61	0.59	0.0		0.68	EQR
MAA	-0.01	0.9	0.52	0.89	0.17	0.49	0.45	0.0	0.68		MAA
	CLPR	IRT	BRT	UDR	NXRT	CSR	VRE	AIRC	EQR	MAA

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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

UDR	+ 0.96	IRT
MAA	+ 0.9	IRT
MAA	+ 0.89	UDR
VRE	+ 0.82	NXRT
VRE	+ 0.82	CSR
EQR	+ 0.81	UDR

High negative correlations

MAA	- 0.01	CLPR
MAA	- 0.0	AIRC
EQR	- 0.0	AIRC
AIRC	- 0.0	VRE
AIRC	- 0.0	CSR
AIRC	- 0.0	NXRT

Risk-Adjusted Indicators

There is a big difference between Apartment Stock performing well and Apartment Investment 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 Apartment Investment'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
CLPR	3.28	(0.35)	0.00	(0.30)	0.00	0.00	6.49	(9.00)	25.82
IRT	1.10	0.00	0.00	(0.04)	0.00	0.00	2.24	(2.56)	5.14
BRT	1.23	(0.02)	0.00	(0.08)	0.00	0.00	2.48	(2.35)	9.39
UDR	1.05	0.02	0.03	0.00	1.29	(1.16)	2.19	(2.03)	6.14
NXRT	1.41	(0.19)	0.00	(0.25)	0.00	0.00	2.25	(2.43)	6.31
CSR	1.06	(0.07)	0.00	(0.13)	0.00	0.00	2.01	(2.63)	6.41
VRE	1.14	(0.05)	0.00	(0.13)	0.00	0.00	2.60	(2.43)	5.83
AIRC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EQR	1.06	(0.01)	0.00	(0.05)	0.00	0.00	2.22	(2.39)	6.21
MAA	1.04	0.08	0.07	0.16	1.27	(1.15)	1.70	(1.96)	6.07

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