First Industrial Correlations

FR Stock

USD 55.61 0.24 0.43%

The current 90-days correlation between First Industrial Realty and LXP Industrial Trust is 0.82 (i.e., Very poor diversification). The correlation of First Industrial 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.

First Industrial Correlation With Market

Weak diversification

The correlation between First Industrial Realty and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Industrial 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 First Industrial 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 metropolitan statistical area.

Moving together with First Stock

0.61	O	Realty Income	Pair Corr
0.62	DX	Dynex Capital	Pair Corr
0.65	WY	Weyerhaeuser	Pair Corr
0.74	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.72	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.66	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.72	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.78	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.7	MITT-PB	AG Mortgage Investment Earnings Call This Week	Pair Corr

Moving against First Stock

0.5	MDRR	Medalist Diversified Reit	Pair Corr
0.37	OZ	Belpointe PREP LLC	Pair Corr
0.31	PK	Park Hotels Resorts	Pair Corr
0.47	WETH	Wetouch Technology Common	Pair Corr

Related Correlations Analysis

	LXP	PLYM	SELF	TRNO	INDT	REXR	COLD	EGP
LXP		0.81	-0.33	-0.03	0.0	0.83	0.83	0.58	LXP
PLYM	0.81		-0.23	-0.42	0.0	0.47	0.62	0.14	PLYM
SELF	-0.33	-0.23		0.14	0.0	-0.22	-0.2	-0.1	SELF
TRNO	-0.03	-0.42	0.14		0.0	0.33	0.02	0.72	TRNO
INDT	0.0	0.0	0.0	0.0		0.0	0.0	0.0	INDT
REXR	0.83	0.47	-0.22	0.33	0.0		0.73	0.79	REXR
COLD	0.83	0.62	-0.2	0.02	0.0	0.73		0.47	COLD
EGP	0.58	0.14	-0.1	0.72	0.0	0.79	0.47		EGP
	LXP	PLYM	SELF	TRNO	INDT	REXR	COLD	EGP

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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

REXR	+ 0.83	LXP
COLD	+ 0.83	LXP
PLYM	+ 0.81	LXP
EGP	+ 0.79	REXR
COLD	+ 0.73	REXR
EGP	+ 0.72	TRNO

High negative correlations

TRNO	- 0.42	PLYM
SELF	- 0.33	LXP
SELF	- 0.23	PLYM
REXR	- 0.22	SELF
COLD	- 0.2	SELF
EGP	- 0.1	SELF

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Industrial 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 First Industrial'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
LXP	1.20	(0.18)	0.00	(0.17)	0.00	0.00	2.26	(2.77)	6.87
PLYM	1.37	(0.31)	0.00	(0.81)	0.00	0.00	3.36	(3.37)	9.97
SELF	0.92	0.04	0.02	0.59	1.31	(1.00)	1.96	(1.93)	7.35
TRNO	1.00	0.12	0.10	0.21	1.09	(1.13)	2.16	(1.73)	11.10
INDT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
REXR	1.31	(0.08)	0.00	(0.10)	0.00	0.00	2.50	(2.82)	8.75
COLD	1.27	(0.07)	0.00	(0.11)	0.00	0.00	3.04	(2.81)	7.66
EGP	1.06	0.04	0.03	0.08	1.27	(1.12)	1.87	(1.94)	7.44

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