Apple Hospitality Correlations

APLE Stock

USD 13.38 0.05 0.38%

The current 90-days correlation between Apple Hospitality REIT and Park Hotels Resorts is 0.81 (i.e., Very poor diversification). The correlation of Apple Hospitality 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.

Apple Hospitality Correlation With Market

Very weak diversification

The correlation between Apple Hospitality REIT and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apple Hospitality REIT 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 Apple Hospitality REIT. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Apple Stock

0.78	Z	Zillow Group Class	Pair Corr
0.8	UE	Urban Edge Properties	Pair Corr
0.83	EQIX	Equinix	Pair Corr
0.71	ESBA	Empire State Realty	Pair Corr
0.72	FISK	Empire State Realty	Pair Corr
0.84	AKR	Acadia Realty Trust	Pair Corr
0.78	BDN	Brandywine Realty Trust	Pair Corr
0.78	BXP	Boston Properties	Pair Corr
0.66	CUZ	Cousins Properties	Pair Corr
0.76	DEI	Douglas Emmett	Pair Corr
0.65	DLR	Digital Realty Trust	Pair Corr
0.63	EQC	Equity Commonwealth	Pair Corr
0.92	INN	Summit Hotel Properties	Pair Corr
0.72	IRM	Iron Mountain	Pair Corr
0.71	IVT	Inventrust Properties	Pair Corr
0.67	KRC	Kilroy Realty Corp	Pair Corr
0.66	KRG	Kite Realty Group	Pair Corr
0.66	PDM	Piedmont Office Realty	Pair Corr
0.87	SLG	SL Green Realty	Pair Corr
0.83	PGRE	Paramount Group	Pair Corr

Moving against Apple Stock

0.7	AMT	American Tower Corp	Pair Corr
0.7	CCI	Crown Castle	Pair Corr
0.67	BNL	Broadstone Net Lease	Pair Corr
0.67	MPW	Medical Properties Trust Aggressive Push	Pair Corr
0.62	SBAC	SBA Communications Corp	Pair Corr
0.58	PSTL	Postal Realty Trust	Pair Corr
0.58	DX	Dynex Capital Sell-off Trend	Pair Corr
0.56	NTST	Netstreit Corp	Pair Corr
0.56	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.51	GLPI	Gaming Leisure Properties	Pair Corr
0.51	HASI	Hannon Armstrong Sus	Pair Corr
0.51	O	Realty Income	Pair Corr
0.51	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.5	AHT-PI	Ashford Hospitality Trust	Pair Corr

Related Correlations Analysis

	PK	DRH	RHP	PEB	SHO	HST	SVC	RLJ	HT
PK		0.97	0.92	0.95	0.97	0.98	-0.37	0.96	0.0	PK
DRH	0.97		0.95	0.96	0.96	0.96	-0.29	0.97	0.0	DRH
RHP	0.92	0.95		0.9	0.91	0.89	-0.24	0.91	0.0	RHP
PEB	0.95	0.96	0.9		0.94	0.95	-0.23	0.96	0.0	PEB
SHO	0.97	0.96	0.91	0.94		0.96	-0.34	0.94	0.0	SHO
HST	0.98	0.96	0.89	0.95	0.96		-0.34	0.96	0.0	HST
SVC	-0.37	-0.29	-0.24	-0.23	-0.34	-0.34		-0.25	0.0	SVC
RLJ	0.96	0.97	0.91	0.96	0.94	0.96	-0.25		0.0	RLJ
HT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		HT
	PK	DRH	RHP	PEB	SHO	HST	SVC	RLJ	HT

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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

HST	+ 0.98	PK
DRH	+ 0.97	PK
SHO	+ 0.97	PK
RLJ	+ 0.97	DRH
RLJ	+ 0.96	PK
PEB	+ 0.96	DRH

High negative correlations

SVC	- 0.37	PK
SVC	- 0.34	HST
SVC	- 0.34	SHO
SVC	- 0.29	DRH
RLJ	- 0.25	SVC
SVC	- 0.24	RHP

Risk-Adjusted Indicators

There is a big difference between Apple Stock performing well and Apple Hospitality 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 Apple Hospitality'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
PK	1.46	(0.32)	0.00	(0.35)	0.00	0.00	3.04	(3.07)	9.76
DRH	1.18	(0.23)	0.00	(0.28)	0.00	0.00	2.20	(2.89)	9.19
RHP	1.22	(0.16)	0.00	(0.21)	0.00	0.00	2.24	(2.76)	7.57
PEB	1.70	(0.44)	0.00	(0.39)	0.00	0.00	2.40	(4.87)	10.19
SHO	1.20	(0.29)	0.00	(0.36)	0.00	0.00	2.17	(2.69)	8.41
HST	1.33	(0.26)	0.00	(0.33)	0.00	0.00	2.69	(2.81)	7.93
SVC	2.82	0.37	0.09	0.20	3.64	(3.14)	6.47	(7.14)	24.50
RLJ	1.36	(0.28)	0.00	(0.50)	0.00	0.00	2.82	(3.35)	8.31
HT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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