DiamondRock Hospitality Correlations

Preferred Stocks . USA . 
Preferred Stock . DiamondRock Hospitality
DRH-PA Preferred Stock  USD 25.06  0.01  0.04%   
The correlation of DiamondRock 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.

DiamondRock Hospitality Correlation With Market

Significant diversification

The correlation between DiamondRock Hospitality and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DiamondRock Hospitality and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to DiamondRock Hospitality could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DiamondRock Hospitality when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DiamondRock Hospitality - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DiamondRock Hospitality to buy it.

Moving against DiamondRock Preferred Stock

  0.62XHR Xenia Hotels ResortsPairCorr
  0.56RHP Ryman HospitalityPairCorr
  0.56SHO Sunstone Hotel InvestorsPairCorr
  0.53PK Park Hotels ResortsPairCorr
  0.53DRH Diamondrock HospitalityPairCorr
  0.51HST Host Hotels ResortsPairCorr
  0.51INN Summit Hotel PropertiesPairCorr
  0.5RLJ RLJ Lodging TrustPairCorr
  0.47PEB Pebblebrook Hotel TrustPairCorr
  0.6APLE Apple Hospitality REITPairCorr
  0.58CLDT Chatham Lodging TrustPairCorr
  0.35SOHO Sotherly HotelsPairCorr
  0.34PEB-PG Pebblebrook Hotel TrustPairCorr

Related Correlations Analysis

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Be your own money manager

Our tools can tell you how much better you can do entering a position in DiamondRock Hospitality without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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DiamondRock Hospitality Corporate Management

Mark BruggerPresident, CoFounderProfile
Jeffrey CFAEx CFOProfile
Briony CPAVP TreasurerProfile
William TennisGen VPProfile
Ben NelsonVP ControllerProfile
Troy FurbayEx OfficerProfile
Justin LeonardEx COOProfile
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