Ellington Financial Correlations

EFC-PE Stock

25.56 0.00 0.00%

The current 90-days correlation between Ellington Financial and TPG RE Finance is 0.12 (i.e., Average diversification). The correlation of Ellington Financial 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.

Ellington Financial Correlation With Market

Good diversification

The correlation between Ellington Financial and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ellington Financial and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Ellington Stock

0.67	MITT-PC	AG Mortgage Investment	Pair Corr
0.76	ACR-PC	ACRES Commercial Realty	Pair Corr
0.61	NLY-PI	Annaly Capital Management	Pair Corr
0.69	NLY-PF	Annaly Capital Management	Pair Corr
0.75	NLY-PG	Annaly Capital Management	Pair Corr
0.76	ABR-PF	Arbor Realty Trust	Pair Corr
0.71	RITM-PC	Rithm Capital Corp	Pair Corr
0.82	RITM-PA	Rithm Capital Corp	Pair Corr
0.83	RITM-PB	Rithm Capital Corp	Pair Corr
0.68	NYMTL	New York Mortgage	Pair Corr
0.78	NYMTM	New York Mortgage	Pair Corr
0.74	TWO-PC	Two Harbors Investment	Pair Corr
0.74	AGNCO	AGNC Investment Corp	Pair Corr

Moving against Ellington Stock

0.67	RPT	Rithm Property Trust Symbol Change	Pair Corr
0.48	RC-PC	Ready Capital	Pair Corr
0.41	RC-PE	Ready Capital	Pair Corr
0.33	SACH-PA	Sachem Capital Corp	Pair Corr
0.74	NYMTZ	New York Mortgage	Pair Corr
0.58	MFA-PB	MFA Financial	Pair Corr
0.45	MRTI	Maxus Realty Trust	Pair Corr
0.41	TWO-PB	Two Harbors Investment	Pair Corr

Related Correlations Analysis

	MITT-PA	MITT-PB	MITT-PC	NREF-PA	LFT-PA	RPT	ACR-PD	ACR-PC	SACH-PA	TRTX-PC
MITT-PA		0.79	-0.22	-0.11	-0.27	0.35	0.27	-0.23	0.2	0.19	MITT-PA
MITT-PB	0.79		-0.14	0.08	-0.1	0.21	0.31	-0.03	0.32	0.27	MITT-PB
MITT-PC	-0.22	-0.14		0.15	0.67	-0.65	-0.26	0.9	-0.7	-0.66	MITT-PC
NREF-PA	-0.11	0.08	0.15		0.07	-0.45	0.1	0.3	0.21	0.19	NREF-PA
LFT-PA	-0.27	-0.1	0.67	0.07		-0.37	-0.05	0.57	-0.28	-0.4	LFT-PA
RPT	0.35	0.21	-0.65	-0.45	-0.37		0.02	-0.79	0.52	0.35	RPT
ACR-PD	0.27	0.31	-0.26	0.1	-0.05	0.02		-0.15	0.51	0.3	ACR-PD
ACR-PC	-0.23	-0.03	0.9	0.3	0.57	-0.79	-0.15		-0.59	-0.41	ACR-PC
SACH-PA	0.2	0.32	-0.7	0.21	-0.28	0.52	0.51	-0.59		0.71	SACH-PA
TRTX-PC	0.19	0.27	-0.66	0.19	-0.4	0.35	0.3	-0.41	0.71		TRTX-PC
	MITT-PA	MITT-PB	MITT-PC	NREF-PA	LFT-PA	RPT	ACR-PD	ACR-PC	SACH-PA	TRTX-PC

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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

ACR-PC	+ 0.9	MITT-PC
MITT-PB	+ 0.79	MITT-PA
TRTX-PC	+ 0.71	SACH-PA
LFT-PA	+ 0.67	MITT-PC
ACR-PC	+ 0.57	LFT-PA
SACH-PA	+ 0.52	RPT

High negative correlations

ACR-PC	- 0.79	RPT
SACH-PA	- 0.7	MITT-PC
TRTX-PC	- 0.66	MITT-PC
RPT	- 0.65	MITT-PC
SACH-PA	- 0.59	ACR-PC
RPT	- 0.45	NREF-PA

Risk-Adjusted Indicators

There is a big difference between Ellington Stock performing well and Ellington Financial 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 Ellington Financial'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
MITT-PA	0.49	0.00	(0.05)	0.02	0.52	(0.66)	1.05	(1.09)	3.30
MITT-PB	0.66	0.03	(0.01)	(0.38)	0.97	(0.63)	1.44	(1.51)	4.79
MITT-PC	0.19	0.04	0.02	1.61	0.00	(0.23)	0.68	(0.37)	1.53
NREF-PA	0.67	(0.02)	0.00	(0.55)	0.00	0.00	1.76	(1.36)	3.90
LFT-PA	0.64	0.05	0.01	3.61	0.73	(1.02)	1.92	(1.57)	5.62
RPT	1.36	(0.19)	0.00	(0.24)	0.00	0.00	2.59	(2.45)	9.48
ACR-PD	0.46	0.00	(0.06)	0.04	0.59	(0.55)	1.23	(1.16)	3.15
ACR-PC	0.16	0.04	0.00	(1.58)	0.00	(0.18)	0.40	(0.28)	1.33
SACH-PA	1.40	(0.32)	0.00	(0.28)	0.00	0.00	2.43	(3.43)	15.43
TRTX-PC	0.68	(0.02)	0.00	0.12	0.00	0.00	1.44	(1.26)	4.18

Ellington Financial Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Ellington Financial stock to make a market-neutral strategy. Peer analysis of Ellington Financial could also be used in its relative valuation, which is a method of valuing Ellington Financial by comparing valuation metrics with similar companies.

AG Mortgage Investment AG Mortgage Investment AG Mortgage Investment NexPoint Real Estate Lument Finance Trust Rithm Property Trust ACRES Commercial Realty ACRES Commercial Realty Sachem Capital Corp TPG RE Finance American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Ellington Financial Corporate Management

Vincent Ambrico	Controller	Profile
Daniel JD	General Counsel	Profile
Christopher Smernoff	Chief Officer	Profile
Michael Vranos	CoChief Officer	Profile
Christopher CPA	Chief Officer	Profile

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