Elme Communities Correlations

ELME Stock

USD 17.10 0.01 0.06%

The current 90-days correlation between Elme Communities and Nexpoint Residential Trust is 0.47 (i.e., Very weak diversification). The correlation of Elme Communities 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.

Elme Communities Correlation With Market

Modest diversification

The correlation between Elme Communities and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elme Communities 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 Elme Communities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Elme Stock

0.87	O	Realty Income	Pair Corr
0.76	ADC	Agree Realty	Pair Corr
0.87	AMT	American Tower Corp	Pair Corr
0.77	BNL	Broadstone Net Lease	Pair Corr
0.85	EGP	EastGroup Properties	Pair Corr
0.87	LXP	LXP Industrial Trust	Pair Corr
0.88	NNN	National Retail Prop	Pair Corr

Moving against Elme Stock

0.79	PK	Park Hotels Resorts	Pair Corr
0.73	BDN	Brandywine Realty Trust	Pair Corr
0.6	PW	Power REIT Earnings Call This Week	Pair Corr
0.55	BXP	Boston Properties	Pair Corr
0.52	EQIX	Equinix	Pair Corr
0.41	UE	Urban Edge Properties	Pair Corr
0.36	CIO	City Office	Pair Corr
0.83	IRM	Iron Mountain	Pair Corr
0.76	DLR	Digital Realty Trust	Pair Corr
0.76	DRH	Diamondrock Hospitality	Pair Corr
0.74	KRC	Kilroy Realty Corp	Pair Corr
0.65	EQC	Equity Commonwealth	Pair Corr
0.63	INN	Summit Hotel Properties	Pair Corr
0.59	KIM	Kimco Realty	Pair Corr
0.59	KRG	Kite Realty Group	Pair Corr
0.56	FRT	Federal Realty Investment	Pair Corr
0.53	DEI	Douglas Emmett	Pair Corr
0.85	PDM	Piedmont Office Realty	Pair Corr
0.81	SHO	Sunstone Hotel Investors	Pair Corr
0.78	PEB	Pebblebrook Hotel Trust	Pair Corr
0.74	RLJ	RLJ Lodging Trust Downward Rally	Pair Corr

Related Correlations Analysis

	BRT	NXRT	CSR	VRE	AIRC	CLPR	ELS	SUI	UDR
BRT		0.6	0.7	0.64	0.0	0.41	0.51	0.17	0.67	BRT
NXRT	0.6		0.81	0.79	0.0	0.73	0.38	-0.12	0.58	NXRT
CSR	0.7	0.81		0.74	0.0	0.67	0.61	0.19	0.75	CSR
VRE	0.64	0.79	0.74		0.0	0.57	0.45	-0.02	0.58	VRE
AIRC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AIRC
CLPR	0.41	0.73	0.67	0.57	0.0		0.11	-0.26	0.33	CLPR
ELS	0.51	0.38	0.61	0.45	0.0	0.11		0.71	0.72	ELS
SUI	0.17	-0.12	0.19	-0.02	0.0	-0.26	0.71		0.6	SUI
UDR	0.67	0.58	0.75	0.58	0.0	0.33	0.72	0.6		UDR
	BRT	NXRT	CSR	VRE	AIRC	CLPR	ELS	SUI	UDR

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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

CSR	+ 0.81	NXRT
VRE	+ 0.79	NXRT
UDR	+ 0.75	CSR
VRE	+ 0.74	CSR
CLPR	+ 0.73	NXRT
UDR	+ 0.72	ELS

High negative correlations

SUI	- 0.26	CLPR
SUI	- 0.12	NXRT
SUI	- 0.02	VRE
UDR	- 0.0	AIRC
SUI	- 0.0	AIRC
ELS	- 0.0	AIRC

Risk-Adjusted Indicators

There is a big difference between Elme Stock performing well and Elme Communities 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 Elme Communities' 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
BRT	1.23	0.00	0.00	(0.06)	0.00	0.00	2.48	(2.35)	9.39
NXRT	1.39	(0.18)	0.00	(0.30)	0.00	0.00	2.12	(2.43)	6.46
CSR	1.05	(0.07)	0.00	(0.16)	0.00	0.00	2.01	(2.63)	6.41
VRE	1.12	(0.12)	0.00	0.53	0.00	0.00	2.60	(2.43)	5.83
AIRC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLPR	3.67	0.00	0.00	(0.06)	0.00	0.00	6.49	(9.00)	53.13
ELS	1.06	0.05	0.06	0.05	1.53	(1.01)	1.82	(2.37)	7.02
SUI	1.23	0.17	0.14	0.16	1.25	(1.39)	2.98	(2.28)	9.24
UDR	1.02	0.01	0.00	(0.05)	0.00	0.00	1.90	(2.03)	6.14

Elme Communities Corporate Management

Efrem Reid	Vice Resources	Profile
Wade Hammond	Chief VP	Profile
Amy Hopkins	Vice Relations	Profile
Anthony Chang	VP Management	Profile
Grant Montgomery	Vice Research	Profile
Daniel Chappell	Vice Investments	Profile

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