Empire State Correlations

ESBA Stock

USD 7.95 0.02 0.25%

The current 90-days correlation between Empire State Realty and Empire State Realty is -0.11 (i.e., Good diversification). The correlation of Empire State 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.

Empire State Correlation With Market

Very good diversification

The correlation between Empire State Realty and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Empire State Realty 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 Empire State Realty. 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 labor statistics.

Moving together with Empire Stock

0.66	CIO	City Office	Pair Corr
0.76	DEI	Douglas Emmett	Pair Corr
0.68	EQC	Equity Commonwealth	Pair Corr
0.73	IRM	Iron Mountain	Pair Corr
0.79	KRC	Kilroy Realty Corp	Pair Corr
0.78	PDM	Piedmont Office Realty	Pair Corr
0.8	CMCT	Creative Media Community Earnings Call Tomorrow	Pair Corr
0.91	PK	Park Hotels Resorts	Pair Corr
0.72	RC	Ready Capital Corp	Pair Corr
0.8	UE	Urban Edge Properties	Pair Corr

Moving against Empire Stock

0.9	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.88	DX	Dynex Capital	Pair Corr
0.88	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.86	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.85	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.84	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.8	O	Realty Income	Pair Corr
0.75	FR	First Industrial Realty	Pair Corr
0.6	WY	Weyerhaeuser	Pair Corr
0.89	CDR-PC	Cedar Realty Trust	Pair Corr
0.82	VICI	VICI Properties	Pair Corr
0.81	MITT-PC	AG Mortgage Investment	Pair Corr
0.81	WELL	Welltower	Pair Corr
0.79	FBRT	Franklin BSP Realty	Pair Corr
0.78	CDR-PB	Cedar Realty Trust	Pair Corr
0.72	MITT-PA	AG Mortgage Investment	Pair Corr
0.72	ELME	Elme Communities	Pair Corr
0.68	NREF-PA	NexPoint Real Estate	Pair Corr
0.66	MITT-PB	AG Mortgage Investment	Pair Corr
0.65	FCPT	Four Corners Property	Pair Corr
0.6	VNO-PL	Vornado Realty Trust	Pair Corr

Related Correlations Analysis

	OGCP	CIO	CUZ	PSTL	FISK	PDM	HPP	OFC	HIW	DEI
OGCP		0.09	0.37	-0.66	0.27	0.29	0.09	0.0	0.09	0.18	OGCP
CIO	0.09		0.46	-0.25	0.75	0.72	0.29	0.0	0.71	0.83	CIO
CUZ	0.37	0.46		-0.37	0.46	0.49	0.66	0.0	0.5	0.54	CUZ
PSTL	-0.66	-0.25	-0.37		-0.6	-0.57	0.14	0.0	-0.21	-0.39	PSTL
FISK	0.27	0.75	0.46	-0.6		0.89	0.08	0.0	0.59	0.88	FISK
PDM	0.29	0.72	0.49	-0.57	0.89		0.1	0.0	0.58	0.85	PDM
HPP	0.09	0.29	0.66	0.14	0.08	0.1		0.0	0.34	0.29	HPP
OFC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OFC
HIW	0.09	0.71	0.5	-0.21	0.59	0.58	0.34	0.0		0.75	HIW
DEI	0.18	0.83	0.54	-0.39	0.88	0.85	0.29	0.0	0.75		DEI
	OGCP	CIO	CUZ	PSTL	FISK	PDM	HPP	OFC	HIW	DEI

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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

PDM	+ 0.89	FISK
DEI	+ 0.88	FISK
DEI	+ 0.85	PDM
DEI	+ 0.83	CIO
FISK	+ 0.75	CIO
DEI	+ 0.75	HIW

High negative correlations

PSTL	- 0.66	OGCP
FISK	- 0.6	PSTL
PDM	- 0.57	PSTL
DEI	- 0.39	PSTL
PSTL	- 0.37	CUZ
PSTL	- 0.25	CIO

Risk-Adjusted Indicators

There is a big difference between Empire Stock performing well and Empire State 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 Empire State'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
OGCP	1.05	(0.34)	0.00	(3.92)	0.00	0.00	2.04	(4.76)	17.00
CIO	1.57	(0.12)	0.00	(0.19)	0.00	0.00	3.57	(3.73)	9.02
CUZ	1.36	0.03	0.00	(0.04)	0.00	0.00	2.21	(3.17)	7.26
PSTL	1.17	0.07	0.07	0.13	1.51	(1.30)	2.04	(1.84)	14.71
FISK	1.98	(0.42)	0.00	(2.03)	0.00	0.00	4.46	(7.35)	16.26
PDM	1.68	(0.28)	0.00	(0.36)	0.00	0.00	2.91	(3.74)	12.31
HPP	3.59	0.08	0.00	(0.03)	0.00	0.00	8.01	(6.06)	21.47
OFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HIW	1.32	(0.03)	0.00	(0.10)	0.00	0.00	2.75	(2.84)	7.07
DEI	1.89	(0.23)	0.00	(0.27)	0.00	0.00	3.28	(4.39)	10.12

Empire State Corporate Management

Thomas Keltner	Executive VP of Empire State ealty Trust, Inc, General Counsel of Empire State Realty Trust, Inc and Secretary of Empire State Realty Trust, Inc	Profile
Kevin Vilke	Inc Trust	Profile
Aaron Ratner	Inc Trust	Profile
Christopher Blackman	I Trust	Profile
Katy Malonoski	VP Relations	Profile
Fred Posniak	Inc Trust	Profile

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