CKX Lands Correlations

CKX Stock

USD 11.43 0.03 0.26%

The correlation of CKX Lands 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.

CKX Lands Correlation With Market

Good diversification

The correlation between CKX Lands and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CKX Lands 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 CKX Lands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy CKX Stock please use our How to Invest in CKX Lands guide.

Moving together with CKX Stock

0.65	STHO	Star Holdings	Pair Corr
0.76	KW	Kennedy Wilson Holdings	Pair Corr
0.82	OZ	Belpointe PREP LLC	Pair Corr
0.77	PK	Park Hotels Resorts	Pair Corr
0.66	RC	Ready Capital Corp	Pair Corr
0.7	UE	Urban Edge Properties	Pair Corr
0.62	ADC-PA	Agree Realty	Pair Corr
0.63	WETH	Wetouch Technology Common	Pair Corr
0.82	ESBA	Empire State Realty	Pair Corr

Moving against CKX Stock

0.79	DX	Dynex Capital Sell-off Trend	Pair Corr
0.62	ONL	Orion Office Reit	Pair Corr
0.6	FR	First Industrial Realty	Pair Corr
0.52	CBRE	CBRE Group Class	Pair Corr
0.87	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.77	MITT-PC	AG Mortgage Investment	Pair Corr
0.74	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.71	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.68	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.63	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.53	MITT-PA	AG Mortgage Investment	Pair Corr
0.42	MITT-PB	AG Mortgage Investment	Pair Corr
0.76	ACR	Acres Commercial Realty Earnings Call Today	Pair Corr
0.72	CDR-PC	Cedar Realty Trust	Pair Corr
0.65	WELL	Welltower	Pair Corr
0.52	CDR-PB	Cedar Realty Trust	Pair Corr

Related Correlations Analysis

	PNRG	TXO	XLEFF	COCBF	SBOW	MGY	CIVI	SM	EPM	EPSN
PNRG		0.33	0.0	0.0	0.0	0.09	0.43	0.22	0.29	0.44	PNRG
TXO	0.33		0.0	0.0	0.0	0.01	0.44	-0.14	0.11	0.5	TXO
XLEFF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	XLEFF
COCBF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	COCBF
SBOW	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SBOW
MGY	0.09	0.01	0.0	0.0	0.0		-0.02	0.84	0.92	-0.21	MGY
CIVI	0.43	0.44	0.0	0.0	0.0	-0.02		0.11	0.12	0.58	CIVI
SM	0.22	-0.14	0.0	0.0	0.0	0.84	0.11		0.87	-0.07	SM
EPM	0.29	0.11	0.0	0.0	0.0	0.92	0.12	0.87		-0.06	EPM
EPSN	0.44	0.5	0.0	0.0	0.0	-0.21	0.58	-0.07	-0.06		EPSN
	PNRG	TXO	XLEFF	COCBF	SBOW	MGY	CIVI	SM	EPM	EPSN

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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

EPM	+ 0.92	MGY
EPM	+ 0.87	SM
SM	+ 0.84	MGY
EPSN	+ 0.58	CIVI
EPSN	+ 0.5	TXO
EPSN	+ 0.44	PNRG

High negative correlations

EPSN	- 0.21	MGY
SM	- 0.14	TXO
EPSN	- 0.07	SM
EPSN	- 0.06	EPM
CIVI	- 0.02	MGY
EPSN	- 0.0	SBOW

Risk-Adjusted Indicators

There is a big difference between CKX Stock performing well and CKX Lands 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 CKX Lands' 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
PNRG	2.90	0.09	0.02	0.09	4.00	(3.19)	5.05	(6.23)	23.58
TXO	1.20	0.12	0.09	0.28	1.23	(1.50)	3.59	(2.16)	8.27
XLEFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COCBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MGY	1.41	(0.24)	0.00	(0.37)	0.00	0.00	2.31	(3.30)	7.66
CIVI	1.97	(0.30)	0.00	0.24	0.00	0.00	3.99	(5.10)	11.04
SM	1.74	(0.43)	0.00	(0.51)	0.00	0.00	3.04	(4.42)	12.87
EPM	1.26	(0.22)	0.00	(0.37)	0.00	0.00	3.05	(2.42)	8.79
EPSN	1.61	0.14	0.06	0.64	1.89	(1.72)	3.75	(3.32)	10.77

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