Summit Hotel Correlations

INN-PE Preferred Stock

USD 20.21 0.20 1.00%

The correlation of Summit Hotel 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.

Summit Hotel Correlation With Market

Average diversification

The correlation between Summit Hotel Properties and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Hotel Properties and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Summit Hotel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Summit Hotel 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 Summit Hotel - 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 Summit Hotel Properties to buy it.

Moving together with Summit Preferred Stock

0.65	INN-PF	Summit Hotel Properties	Pair Corr
0.65	SHO-PI	Sunstone Hotel Investors	Pair Corr
0.73	PEB-PF	Pebblebrook Hotel Trust	Pair Corr
0.72	PEB-PG	Pebblebrook Hotel Trust	Pair Corr
0.75	PEB-PE	Pebblebrook Hotel Trust	Pair Corr

Moving against Summit Preferred Stock

0.66	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.62	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.61	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.59	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.59	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.58	BHR-PD	Braemar Hotels Resorts	Pair Corr
0.58	FR	First Industrial Realty	Pair Corr
0.56	O	Realty Income	Pair Corr
0.52	DX	Dynex Capital	Pair Corr
0.33	RLJ-PA	RLJ Lodging Trust	Pair Corr
0.52	ELME	Elme Communities	Pair Corr
0.48	MITT-PB	AG Mortgage Investment	Pair Corr
0.48	MITT-PC	AG Mortgage Investment	Pair Corr
0.46	MITT-PA	AG Mortgage Investment	Pair Corr
0.42	VICI	VICI Properties	Pair Corr
0.4	DOUG	Douglas Elliman	Pair Corr
0.38	WY	Weyerhaeuser	Pair Corr

Related Correlations Analysis

	AHT-PI	BHR-PD	AHT-PG	AHT-PH	BHR-PB	AHT-PF
AHT-PI		0.9	0.93	0.96	0.58	0.94	AHT-PI
BHR-PD	0.9		0.85	0.86	0.61	0.86	BHR-PD
AHT-PG	0.93	0.85		0.92	0.56	0.95	AHT-PG
AHT-PH	0.96	0.86	0.92		0.54	0.93	AHT-PH
BHR-PB	0.58	0.61	0.56	0.54		0.54	BHR-PB
AHT-PF	0.94	0.86	0.95	0.93	0.54		AHT-PF
	AHT-PI	BHR-PD	AHT-PG	AHT-PH	BHR-PB	AHT-PF

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Risk-Adjusted Indicators

There is a big difference between Summit Preferred Stock performing well and Summit Hotel 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 Summit Hotel'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
AHT-PI	1.58	0.32	0.09	0.92	2.59	(1.93)	4.10	(2.61)	14.89
BHR-PD	0.88	0.27	0.22	5.78	0.79	(1.02)	2.03	(1.79)	6.63
AHT-PG	1.92	0.28	0.09	1.57	2.45	(2.46)	5.62	(3.97)	15.81
AHT-PH	1.99	0.22	0.05	2.87	2.92	(2.85)	5.60	(4.18)	14.66
BHR-PB	1.08	0.11	0.07	0.49	1.30	(1.27)	2.29	(2.07)	6.64
AHT-PF	1.67	0.15	0.05	(0.28)	2.10	(2.18)	3.80	(3.15)	13.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Summit Hotel 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.

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Summit Hotel Corporate Management

William Conkling	Ex CFO	Profile
Christopher Eng	Exec Officer	Profile
Adam Wudel	Sr Markets	Profile
Jonathan Stanner	CEO Pres	Profile
Paul Ruiz	VP Officer	Profile

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