Hannon Armstrong Correlations

HASI Stock

USD 29.35 0.03 0.10%

The current 90-days correlation between Hannon Armstrong Sus and Equinix is 0.19 (i.e., Average diversification). The correlation of Hannon Armstrong 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.

Hannon Armstrong Correlation With Market

Weak diversification

The correlation between Hannon Armstrong Sustainable and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hannon Armstrong Sustainable and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hannon Armstrong Sustainable. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Hannon Stock

0.8	O	Realty Income	Pair Corr
0.71	FR	First Industrial Realty	Pair Corr
0.82	VICI	VICI Properties Sell-off Trend	Pair Corr
0.81	ELME	Elme Communities	Pair Corr
0.78	WELL	Welltower	Pair Corr
0.65	FCPT	Four Corners Property	Pair Corr
0.82	ADC	Agree Realty	Pair Corr
0.69	ALX	Alexanders	Pair Corr
0.82	AMT	American Tower Corp	Pair Corr
0.71	BNL	Broadstone Net Lease	Pair Corr
0.71	CCI	Crown Castle	Pair Corr

Moving against Hannon Stock

0.85	FISK	Empire State Realty	Pair Corr
0.84	PK	Park Hotels Resorts	Pair Corr
0.83	ESRT	Empire State Realty	Pair Corr
0.83	WHLR	Wheeler Real Estate	Pair Corr
0.82	AAT	American Assets Trust	Pair Corr
0.8	ESBA	Empire State Realty	Pair Corr
0.8	AHH	Armada Hflr Pr	Pair Corr
0.66	UE	Urban Edge Properties	Pair Corr
0.64	EQIX	Equinix	Pair Corr
0.57	AKR	Acadia Realty Trust	Pair Corr
0.37	PW	Power REIT Earnings Call Today	Pair Corr
0.83	CDP	COPT Defense Properties	Pair Corr
0.8	DRH	Diamondrock Hospitality	Pair Corr
0.77	DLR	Digital Realty Trust	Pair Corr
0.73	BDN	Brandywine Realty Trust	Pair Corr
0.7	BXP	Boston Properties	Pair Corr
0.65	FRT	Federal Realty Investment	Pair Corr
0.61	DEI	Douglas Emmett	Pair Corr
0.6	EQC	Equity Commonwealth	Pair Corr
0.59	BFS	Saul Centers	Pair Corr

Related Correlations Analysis

	EQIX	CCI	AMT	IRM	DLR	SBAC	GLPI
EQIX		-0.79	-0.77	0.75	0.8	-0.66	-0.68	EQIX
CCI	-0.79		0.88	-0.69	-0.7	0.83	0.86	CCI
AMT	-0.77	0.88		-0.82	-0.86	0.96	0.93	AMT
IRM	0.75	-0.69	-0.82		0.89	-0.83	-0.73	IRM
DLR	0.8	-0.7	-0.86	0.89		-0.82	-0.81	DLR
SBAC	-0.66	0.83	0.96	-0.83	-0.82		0.88	SBAC
GLPI	-0.68	0.86	0.93	-0.73	-0.81	0.88		GLPI
	EQIX	CCI	AMT	IRM	DLR	SBAC	GLPI

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

SBAC	+ 0.96	AMT
GLPI	+ 0.93	AMT
DLR	+ 0.89	IRM
AMT	+ 0.88	CCI
GLPI	+ 0.88	SBAC
GLPI	+ 0.86	CCI

High negative correlations

DLR	- 0.86	AMT
SBAC	- 0.83	IRM
SBAC	- 0.82	DLR
IRM	- 0.82	AMT
GLPI	- 0.81	DLR
CCI	- 0.79	EQIX

Risk-Adjusted Indicators

There is a big difference between Hannon Stock performing well and Hannon Armstrong 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 Hannon Armstrong'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
EQIX	1.18	(0.15)	0.00	(0.18)	0.00	0.00	2.14	(3.36)	7.54
CCI	1.35	0.17	0.09	0.31	1.53	(1.37)	2.68	(2.51)	14.06
AMT	1.23	0.21	0.14	0.55	1.33	(1.28)	2.59	(2.44)	8.07
IRM	1.69	(0.23)	0.00	(0.26)	0.00	0.00	2.91	(5.02)	11.11
DLR	1.50	(0.23)	0.00	(0.23)	0.00	0.00	2.88	(3.86)	11.70
SBAC	1.16	0.11	0.07	0.31	1.39	(1.18)	2.98	(2.00)	8.65
GLPI	0.89	0.14	0.13	0.25	0.86	(0.95)	2.28	(1.79)	4.97

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