Digital Realty Correlations

DLR Stock

USD 150.38 1.03 0.68%

The current 90-days correlation between Digital Realty Trust and American Tower Corp is 0.13 (i.e., Average diversification). The correlation of Digital Realty 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.

Digital Realty Correlation With Market

Weak diversification

The correlation between Digital Realty Trust and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Realty Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Digital Realty Trust. 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 Digital Stock

0.67	UE	Urban Edge Properties	Pair Corr
0.81	EQIX	Equinix	Pair Corr
0.61	AKR	Acadia Realty Trust	Pair Corr
0.64	CIO	City Office	Pair Corr
0.7	DEI	Douglas Emmett	Pair Corr
0.69	EQC	Equity Commonwealth	Pair Corr
0.9	IRM	Iron Mountain	Pair Corr
0.82	KRC	Kilroy Realty Corp	Pair Corr
0.77	KRG	Kite Realty Group	Pair Corr
0.84	PDM	Piedmont Office Realty	Pair Corr
0.78	PGRE	Paramount Group	Pair Corr
0.86	SITC	Site Centers Corp	Pair Corr
0.72	CMCT	Creative Media Community Earnings Call Tomorrow	Pair Corr
0.92	PK	Park Hotels Resorts	Pair Corr
0.8	RC	Ready Capital Corp	Pair Corr

Moving against Digital Stock

0.8	AMT	American Tower Corp	Pair Corr
0.79	O	Realty Income	Pair Corr
0.73	SBAC	SBA Communications Corp	Pair Corr
0.71	GLPI	Gaming Leisure Properties	Pair Corr
0.7	CSGP	CoStar Group	Pair Corr
0.67	HASI	Hannon Armstrong Sus	Pair Corr
0.65	NTST	Netstreit Corp	Pair Corr
0.59	CCI	Crown Castle	Pair Corr
0.89	DX	Dynex Capital	Pair Corr
0.88	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.82	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.82	MITT-PC	AG Mortgage Investment	Pair Corr
0.81	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.81	VICI	VICI Properties	Pair Corr
0.79	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.77	MITT-PA	AG Mortgage Investment	Pair Corr
0.76	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.76	ELME	Elme Communities	Pair Corr
0.75	FR	First Industrial Realty	Pair Corr

Related Correlations Analysis

	AMT	CCI	IRM	SBAC	EQIX	EPR	LAND
AMT		0.86	-0.77	0.96	-0.71	0.9	0.5	AMT
CCI	0.86		-0.59	0.84	-0.67	0.62	0.18	CCI
IRM	-0.77	-0.59		-0.76	0.76	-0.83	-0.55	IRM
SBAC	0.96	0.84	-0.76		-0.59	0.85	0.59	SBAC
EQIX	-0.71	-0.67	0.76	-0.59		-0.65	-0.07	EQIX
EPR	0.9	0.62	-0.83	0.85	-0.65		0.65	EPR
LAND	0.5	0.18	-0.55	0.59	-0.07	0.65		LAND
	AMT	CCI	IRM	SBAC	EQIX	EPR	LAND

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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

SBAC	+ 0.96	AMT
EPR	+ 0.9	AMT
CCI	+ 0.86	AMT
EPR	+ 0.85	SBAC
SBAC	+ 0.84	CCI
EQIX	+ 0.76	IRM

High negative correlations

EPR	- 0.83	IRM
IRM	- 0.77	AMT
SBAC	- 0.76	IRM
EQIX	- 0.71	AMT
EQIX	- 0.67	CCI
EPR	- 0.65	EQIX

Risk-Adjusted Indicators

There is a big difference between Digital Stock performing well and Digital Realty 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 Digital Realty'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
AMT	1.28	0.19	0.13	0.36	1.54	(1.31)	2.59	(2.66)	8.07
CCI	1.33	0.21	0.15	0.28	1.40	(1.39)	2.68	(2.40)	10.92
IRM	1.72	(0.28)	0.00	(0.45)	0.00	0.00	2.61	(6.25)	11.11
SBAC	1.21	0.09	0.08	0.14	1.53	(1.21)	2.98	(2.92)	8.65
EQIX	1.19	(0.16)	0.00	(0.30)	0.00	0.00	2.01	(3.59)	7.54
EPR	0.98	0.26	0.21	0.41	1.12	(1.05)	2.31	(1.75)	5.45
LAND	1.38	(0.05)	0.00	(0.18)	0.00	0.00	2.73	(3.82)	10.43

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