Global Medical Correlations

GMRE-PA Preferred Stock

USD 25.21 0.12 0.47%

The current 90-days correlation between Global Medical REIT and Global Medical REIT is 0.18 (i.e., Average diversification). The correlation of Global Medical 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.

Global Medical Correlation With Market

Significant diversification

The correlation between Global Medical REIT and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Medical REIT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Global Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global Medical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global Medical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global Medical REIT to buy it.

Moving together with Global Preferred Stock

0.62	LB	LandBridge Company	Pair Corr
0.66	WY	Weyerhaeuser	Pair Corr
0.68	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.75	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.72	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.65	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.66	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.64	MITT-PC	AG Mortgage Investment	Pair Corr
0.65	CDR-PC	Cedar Realty Trust	Pair Corr

Moving against Global Preferred Stock

0.75	OZ	Belpointe PREP LLC	Pair Corr
0.72	UE	Urban Edge Properties	Pair Corr
0.69	KW	Kennedy Wilson Holdings	Pair Corr
0.62	PK	Park Hotels Resorts	Pair Corr
0.47	RC	Ready Capital Corp	Pair Corr
0.37	ADC-PA	Agree Realty	Pair Corr
0.77	ESBA	Empire State Realty	Pair Corr
0.77	WHLR	Wheeler Real Estate	Pair Corr
0.69	ESRT	Empire State Realty	Pair Corr
0.65	EXPI	eXp World Holdings	Pair Corr
0.53	EQIX	Equinix	Pair Corr
0.47	WETH	Wetouch Technology Common	Pair Corr

Related Correlations Analysis

	GMRE	CHCT	NHI	HR	DOC	SBRA	UHT	WELL	VTR
GMRE		-0.18	0.87	0.53	0.51	0.43	0.89	0.84	0.93	GMRE
CHCT	-0.18		-0.27	-0.26	0.06	-0.23	0.08	0.14	-0.12	CHCT
NHI	0.87	-0.27		0.65	0.7	0.74	0.82	0.61	0.78	NHI
HR	0.53	-0.26	0.65		0.66	0.64	0.5	0.27	0.44	HR
DOC	0.51	0.06	0.7	0.66		0.65	0.49	0.2	0.36	DOC
SBRA	0.43	-0.23	0.74	0.64	0.65		0.43	0.11	0.3	SBRA
UHT	0.89	0.08	0.82	0.5	0.49	0.43		0.86	0.85	UHT
WELL	0.84	0.14	0.61	0.27	0.2	0.11	0.86		0.93	WELL
VTR	0.93	-0.12	0.78	0.44	0.36	0.3	0.85	0.93		VTR
	GMRE	CHCT	NHI	HR	DOC	SBRA	UHT	WELL	VTR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

VTR	+ 0.93	GMRE
VTR	+ 0.93	WELL
UHT	+ 0.89	GMRE
NHI	+ 0.87	GMRE
WELL	+ 0.86	UHT
VTR	+ 0.85	UHT

High negative correlations

NHI	- 0.27	CHCT
HR	- 0.26	CHCT
SBRA	- 0.23	CHCT
CHCT	- 0.18	GMRE
VTR	- 0.12	CHCT

Risk-Adjusted Indicators

There is a big difference between Global Preferred Stock performing well and Global Medical 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 Global Medical'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
GMRE	1.17	0.10	0.08	0.24	1.41	(1.30)	2.99	(2.30)	6.82
CHCT	1.30	0.05	0.04	0.12	1.85	(1.27)	2.63	(2.74)	9.84
NHI	1.16	0.10	0.07	0.22	1.60	(1.10)	2.33	(2.79)	5.14
HR	1.05	0.01	0.00	(0.02)	0.00	0.00	2.10	(2.59)	5.19
DOC	1.15	0.02	0.03	0.01	1.49	(1.20)	2.04	(2.59)	5.29
SBRA	1.35	0.05	0.03	0.07	1.91	(1.28)	2.61	(3.05)	6.66
UHT	1.10	0.13	0.11	0.17	1.19	(1.29)	2.52	(2.29)	5.63
WELL	1.16	0.26	0.20	0.44	1.16	(1.25)	2.86	(1.89)	7.21
VTR	1.22	0.24	0.16	0.44	1.38	(1.22)	2.45	(2.42)	12.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Global Medical without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Fundamental Analysis Now

Fundamental Analysis

View fundamental data based on most recent published financial statements

All Next

Launch Module

Global Medical Corporate Management

Jeffery Busch	Pres Chairman	Profile
Robert CPA	CFO Treasurer	Profile
Danica Holley	Chief Officer	Profile
Jamie Barber	Gen Sec	Profile
Mary Jensen	Investor Professional	Profile
Alfonzo Leon	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC