Four Corners Correlations

FCPT Stock

USD 28.48 0.37 1.32%

The current 90-days correlation between Four Corners Property and Kite Realty Group is 0.74 (i.e., Poor diversification). The correlation of Four Corners 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.

Four Corners Correlation With Market

Very weak diversification

The correlation between Four Corners Property and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Four Corners Property 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 Four Corners Property. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Four Stock

0.9	O	Realty Income	Pair Corr
0.88	FR	First Industrial Realty	Pair Corr
0.8	WY	Weyerhaeuser	Pair Corr
0.87	VICI	VICI Properties	Pair Corr
0.76	ELME	Elme Communities	Pair Corr
0.84	WELL	Welltower	Pair Corr
0.81	ADC	Agree Realty	Pair Corr
0.69	AHR	American Healthcare REIT,	Pair Corr
0.7	ALX	Alexanders	Pair Corr
0.81	AMT	American Tower Corp	Pair Corr
0.71	BNL	Broadstone Net Lease	Pair Corr

Moving against Four Stock

0.72	WHLR	Wheeler Real Estate	Pair Corr
0.69	ESBA	Empire State Realty	Pair Corr
0.65	PK	Park Hotels Resorts	Pair Corr
0.6	ESRT	Empire State Realty	Pair Corr
0.55	PW	Power REIT Earnings Call This Week	Pair Corr
0.4	EQIX	Equinix	Pair Corr
0.61	FISK	Empire State Realty	Pair Corr
0.61	AAT	American Assets Trust	Pair Corr
0.52	BDN	Brandywine Realty Trust	Pair Corr
0.5	AHH	Armada Hflr Pr	Pair Corr
0.68	DLR	Digital Realty Trust	Pair Corr
0.66	CDP	COPT Defense Properties	Pair Corr
0.43	DRH	Diamondrock Hospitality	Pair Corr
0.35	BXP	Boston Properties	Pair Corr
0.33	DEI	Douglas Emmett	Pair Corr

Related Correlations Analysis

	PINE	RPT	KRG	IVT	KIM	NTST	UE	ROIC	SITC	CBL
PINE		-0.17	0.15	-0.01	0.18	-0.1	0.1	0.21	0.26	-0.01	PINE
RPT	-0.17		-0.43	0.21	-0.39	0.36	-0.1	-0.64	-0.42	0.59	RPT
KRG	0.15	-0.43		0.52	0.96	-0.4	0.84	0.35	0.68	0.04	KRG
IVT	-0.01	0.21	0.52		0.61	-0.27	0.77	-0.32	0.52	0.64	IVT
KIM	0.18	-0.39	0.96	0.61		-0.43	0.89	0.24	0.79	0.14	KIM
NTST	-0.1	0.36	-0.4	-0.27	-0.43		-0.52	0.07	-0.74	-0.31	NTST
UE	0.1	-0.1	0.84	0.77	0.89	-0.52		-0.02	0.75	0.49	UE
ROIC	0.21	-0.64	0.35	-0.32	0.24	0.07	-0.02		-0.02	-0.67	ROIC
SITC	0.26	-0.42	0.68	0.52	0.79	-0.74	0.75	-0.02		0.26	SITC
CBL	-0.01	0.59	0.04	0.64	0.14	-0.31	0.49	-0.67	0.26		CBL
	PINE	RPT	KRG	IVT	KIM	NTST	UE	ROIC	SITC	CBL

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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

KIM	+ 0.96	KRG
UE	+ 0.89	KIM
UE	+ 0.84	KRG
SITC	+ 0.79	KIM
UE	+ 0.77	IVT
SITC	+ 0.75	UE

High negative correlations

SITC	- 0.74	NTST
CBL	- 0.67	ROIC
ROIC	- 0.64	RPT
UE	- 0.52	NTST
NTST	- 0.43	KIM
KRG	- 0.43	RPT

Risk-Adjusted Indicators

There is a big difference between Four Stock performing well and Four Corners 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 Four Corners' 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
PINE	0.92	0.02	0.04	(0.28)	1.54	(0.87)	2.41	(1.68)	9.56
RPT	1.87	0.10	0.05	0.06	1.92	(2.36)	4.43	(3.57)	11.82
KRG	1.36	(0.16)	0.00	(0.21)	0.00	0.00	2.56	(3.16)	6.49
IVT	0.99	(0.05)	0.00	(0.13)	0.00	0.00	1.62	(2.09)	4.36
KIM	1.17	(0.16)	0.00	(0.23)	0.00	0.00	2.24	(3.06)	5.80
NTST	1.21	0.09	0.06	0.19	1.65	(1.25)	2.92	(2.98)	7.48
UE	1.27	(0.21)	0.00	(0.27)	0.00	0.00	2.08	(2.73)	7.21
ROIC	0.11	0.01	0.32	(2.88)	0.00	(0.14)	0.23	(0.23)	0.57
SITC	1.19	(0.22)	0.00	(0.33)	0.00	0.00	2.65	(2.91)	8.55
CBL	1.40	(0.10)	0.00	(0.14)	0.00	0.00	3.06	(3.60)	8.31

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