Equity Residential Correlations

EQR Stock

USD 71.23 0.29 0.41%

The current 90-days correlation between Equity Residential and Essex Property Trust is 0.93 (i.e., Almost no diversification). The correlation of Equity Residential 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 Residential Correlation With Market

Modest diversification

The correlation between Equity Residential 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 Equity Residential 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 Residential. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

To learn how to invest in Equity Stock, please use our How to Invest in Equity Residential guide.

Moving together with Equity Stock

0.78	AHH	Armada Hflr Pr Earnings Call This Week	Pair Corr
0.8	BNL	Broadstone Net Lease Earnings Call This Week	Pair Corr
0.84	OLP	One Liberty Properties	Pair Corr
0.81	RYN	Rayonier	Pair Corr
0.89	GOOD	Gladstone Commercial Earnings Call This Week	Pair Corr
0.7	LAMR	Lamar Advertising Earnings Call This Week	Pair Corr
0.8	O	Realty Income	Pair Corr
0.8	HR	Healthcare Realty Trust	Pair Corr
0.77	KW	Kennedy Wilson Holdings Earnings Call This Week	Pair Corr
0.84	UE	Urban Edge Properties	Pair Corr
0.67	WY	Weyerhaeuser	Pair Corr
0.74	ADC-PA	Agree Realty	Pair Corr
0.81	DOUG	Douglas Elliman	Pair Corr
0.87	VICI	VICI Properties Earnings Call This Week	Pair Corr
0.78	ELME	Elme Communities Upward Rally	Pair Corr
0.84	EPRT	Essential Properties	Pair Corr

Moving against Equity Stock

0.54	MITT-PC	AG Mortgage Investment Earnings Call This Week	Pair Corr
0.51	CDR-PC	Cedar Realty Trust Downward Rally	Pair Corr

Related Correlations Analysis

	ESS	MAA	CPT	UDR	AVB	NXRT
ESS		0.94	0.93	0.9	0.93	0.84	ESS
MAA	0.94		0.96	0.91	0.89	0.78	MAA
CPT	0.93	0.96		0.96	0.89	0.87	CPT
UDR	0.9	0.91	0.96		0.94	0.94	UDR
AVB	0.93	0.89	0.89	0.94		0.92	AVB
NXRT	0.84	0.78	0.87	0.94	0.92		NXRT
	ESS	MAA	CPT	UDR	AVB	NXRT

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Risk-Adjusted Indicators

There is a big difference between Equity Stock performing well and Equity Residential 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 Residential'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
ESS	1.00	(0.07)	0.00	(0.13)	0.00	0.00	1.86	(1.99)	6.18
MAA	0.91	(0.01)	(0.01)	(0.02)	1.22	(1.01)	1.70	(2.25)	6.07
CPT	1.05	(0.02)	0.00	(0.04)	0.00	0.00	2.12	(2.38)	5.64
UDR	0.93	(0.04)	0.00	(0.11)	0.00	0.00	2.08	(1.96)	6.14
AVB	0.88	(0.10)	0.00	(0.23)	0.00	0.00	2.29	(2.20)	5.22
NXRT	1.28	(0.19)	0.00	(0.27)	0.00	0.00	2.01	(2.43)	6.51

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