CareTrust REIT Correlations

CTRE Stock

USD 29.13 0.24 0.83%

The current 90-days correlation between CareTrust REIT and Global Medical REIT is 0.49 (i.e., Very weak diversification). The correlation of CareTrust REIT 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.

CareTrust REIT Correlation With Market

Good diversification

The correlation between CareTrust REIT and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CareTrust 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 CareTrust 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 metropolitan statistical area.

For information on how to trade CareTrust Stock refer to our How to Trade CareTrust Stock guide.

Moving against CareTrust Stock

0.43	UE	Urban Edge Properties	Pair Corr
0.59	EARN	Ellington Residential Potential Growth	Pair Corr
0.46	AHH	Armada Hflr Pr	Pair Corr
0.46	AKR	Acadia Realty Trust	Pair Corr
0.35	AEI	Alset Ehome International	Pair Corr
0.34	ESBA	Empire State Realty	Pair Corr
0.34	AHT	Ashford Hospitality Trust	Pair Corr

Related Correlations Analysis

	GMRE	UHT	DOC	HR	SBRA	CHCT	VTR	OHI	NHI
GMRE		0.88	0.5	0.59	0.41	-0.25	0.94	0.25	0.77	GMRE
UHT	0.88		0.48	0.58	0.43	0.01	0.84	0.31	0.71	UHT
DOC	0.5	0.48		0.68	0.64	0.03	0.36	0.51	0.59	DOC
HR	0.59	0.58	0.68		0.61	-0.19	0.58	0.49	0.58	HR
SBRA	0.41	0.43	0.64	0.61		-0.21	0.32	0.83	0.61	SBRA
CHCT	-0.25	0.01	0.03	-0.19	-0.21		-0.24	-0.15	-0.32	CHCT
VTR	0.94	0.84	0.36	0.58	0.32	-0.24		0.17	0.67	VTR
OHI	0.25	0.31	0.51	0.49	0.83	-0.15	0.17		0.45	OHI
NHI	0.77	0.71	0.59	0.58	0.61	-0.32	0.67	0.45		NHI
	GMRE	UHT	DOC	HR	SBRA	CHCT	VTR	OHI	NHI

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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

VTR	+ 0.94	GMRE
UHT	+ 0.88	GMRE
VTR	+ 0.84	UHT
OHI	+ 0.83	SBRA
NHI	+ 0.77	GMRE
NHI	+ 0.71	UHT

High negative correlations

NHI	- 0.32	CHCT
CHCT	- 0.25	GMRE
VTR	- 0.24	CHCT
CHCT	- 0.21	SBRA
CHCT	- 0.19	HR
OHI	- 0.15	CHCT

Risk-Adjusted Indicators

There is a big difference between CareTrust Stock performing well and CareTrust REIT 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 CareTrust REIT'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
GMRE	1.15	0.16	0.16	0.89	1.21	(1.34)	3.05	(2.24)	6.89
UHT	1.08	0.19	0.25	(1.69)	0.92	(1.36)	2.53	(1.85)	5.12
DOC	1.07	0.03	0.08	(0.25)	1.27	(1.19)	1.92	(2.16)	5.29
HR	1.00	0.01	0.07	(0.14)	1.14	(1.23)	2.10	(1.97)	5.19
SBRA	1.34	0.05	0.07	(0.49)	1.83	(1.29)	2.61	(3.04)	6.66
CHCT	1.24	0.09	0.09	(4.59)	1.71	(1.26)	2.40	(2.35)	9.84
VTR	1.16	0.24	0.20	(1.71)	1.28	(1.21)	2.45	(2.02)	12.29
OHI	1.23	0.01	0.05	(0.16)	1.60	(1.30)	2.50	(2.64)	7.55
NHI	1.14	0.10	0.08	0.18	1.63	(1.07)	2.33	(2.79)	5.14

CareTrust REIT Corporate Management

David Sedgwick	VP of Operations	Profile
Tri Tran	Senior Investments	Profile
Michael Sotelo	Controller	Profile
Mark Lamb	Chief Investment Officer	Profile
James Callister	Chief Secretary	Profile
Eric Gillis	Director Management	Profile

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