Equity Lifestyle Correlations

ELS Stock

USD 67.18 0.33 0.49%

The current 90-days correlation between Equity Lifestyle Pro and UDR Inc is 0.73 (i.e., Poor diversification). The correlation of Equity Lifestyle 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.

Equity Lifestyle Correlation With Market

Modest diversification

The correlation between Equity Lifestyle Properties and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Lifestyle Properties 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 Equity Lifestyle Properties. 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 Equity Stock

0.66	O	Realty Income	Pair Corr
0.71	HR	Healthcare Realty Trust	Pair Corr
0.66	VICI	VICI Properties	Pair Corr
0.71	FCPT	Four Corners Property	Pair Corr
0.67	ADC	Agree Realty	Pair Corr
0.62	AHR	American Healthcare REIT,	Pair Corr
0.73	ALX	Alexanders	Pair Corr
0.75	AMT	American Tower Corp	Pair Corr
0.65	ARE	Alexandria Real Estate	Pair Corr
0.72	BNL	Broadstone Net Lease	Pair Corr
0.69	CCI	Crown Castle	Pair Corr

Moving against Equity Stock

0.48	ESBA	Empire State Realty	Pair Corr
0.47	PK	Park Hotels Resorts	Pair Corr
0.4	PW	Power REIT Earnings Call Tomorrow	Pair Corr
0.4	ESRT	Empire State Realty	Pair Corr
0.39	FISK	Empire State Realty	Pair Corr
0.36	EQIX	Equinix	Pair Corr
0.36	WHLR	Wheeler Real Estate	Pair Corr
0.4	AHH	Armada Hflr Pr	Pair Corr
0.37	AAT	American Assets Trust	Pair Corr
0.36	BDN	Brandywine Realty Trust	Pair Corr
0.35	AHT	Ashford Hospitality Trust	Pair Corr
0.46	DLR	Digital Realty Trust	Pair Corr
0.46	DRH	Diamondrock Hospitality	Pair Corr

Related Correlations Analysis

	UMH	UDR	AVB	NXRT	BRT	CSR	VRE	AIRC	EQR	MAA
UMH		0.46	0.18	0.73	0.45	0.68	0.88	0.0	0.25	0.16	UMH
UDR	0.46		0.35	0.54	0.67	0.76	0.57	0.0	0.8	0.9	UDR
AVB	0.18	0.35		0.61	0.02	0.33	0.19	0.0	0.79	0.18	AVB
NXRT	0.73	0.54	0.61		0.46	0.75	0.7	0.0	0.57	0.17	NXRT
BRT	0.45	0.67	0.02	0.46		0.63	0.56	0.0	0.41	0.55	BRT
CSR	0.68	0.76	0.33	0.75	0.63		0.67	0.0	0.59	0.52	CSR
VRE	0.88	0.57	0.19	0.7	0.56	0.67		0.0	0.33	0.31	VRE
AIRC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AIRC
EQR	0.25	0.8	0.79	0.57	0.41	0.59	0.33	0.0		0.69	EQR
MAA	0.16	0.9	0.18	0.17	0.55	0.52	0.31	0.0	0.69		MAA
	UMH	UDR	AVB	NXRT	BRT	CSR	VRE	AIRC	EQR	MAA

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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

MAA	+ 0.9	UDR
VRE	+ 0.88	UMH
EQR	+ 0.8	UDR
EQR	+ 0.79	AVB
CSR	+ 0.76	UDR
CSR	+ 0.75	NXRT

High negative correlations

MAA	- 0.0	AIRC
EQR	- 0.0	AIRC
AIRC	- 0.0	VRE
AIRC	- 0.0	CSR
AIRC	- 0.0	BRT
AIRC	- 0.0	NXRT

Risk-Adjusted Indicators

There is a big difference between Equity Stock performing well and Equity Lifestyle 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 Equity Lifestyle'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
UMH	1.02	(0.06)	0.00	1.90	0.00	0.00	2.03	(2.25)	6.56
UDR	1.04	0.00	0.00	0.01	1.29	(1.16)	2.19	(2.03)	6.14
AVB	0.99	(0.09)	0.00	(0.14)	0.00	0.00	2.29	(2.23)	5.27
NXRT	1.39	(0.20)	0.00	(0.23)	0.00	0.00	2.25	(2.43)	6.31
BRT	1.25	(0.05)	0.00	(0.11)	0.00	0.00	2.48	(2.35)	9.39
CSR	1.06	(0.09)	0.00	(0.12)	0.00	0.00	2.01	(2.63)	6.41
VRE	1.14	(0.07)	0.00	0.31	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
EQR	1.05	(0.03)	0.00	(0.04)	0.00	0.00	2.22	(2.39)	6.21
MAA	1.03	0.08	0.06	0.23	1.24	(1.15)	1.70	(1.96)	6.07

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