Summit Hotel Correlations

INN Stock

USD 5.68 0.01 0.18%

The current 90-days correlation between Summit Hotel Properties and Diamondrock Hospitality is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Summit Hotel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Summit Hotel Properties moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Summit Hotel Correlation With Market

Very weak diversification

The correlation between Summit Hotel Properties and DJI is 0.52 (i.e., Very weak 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.

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

Moving together with Summit Stock

0.81	UE	Urban Edge Properties	Pair Corr
0.82	EQIX	Equinix	Pair Corr
0.79	ESBA	Empire State Realty	Pair Corr
0.78	FISK	Empire State Realty	Pair Corr
0.79	AKR	Acadia Realty Trust	Pair Corr
0.8	BDN	Brandywine Realty Trust	Pair Corr
0.72	BXP	Boston Properties	Pair Corr
0.75	DEI	Douglas Emmett	Pair Corr
0.71	DLR	Digital Realty Trust	Pair Corr
0.67	EQC	Equity Commonwealth	Pair Corr
0.7	IRM	Iron Mountain	Pair Corr
0.69	KRC	Kilroy Realty Corp	Pair Corr
0.69	KRG	Kite Realty Group	Pair Corr
0.67	LPA	Logistic Properties	Pair Corr
0.7	PDM	Piedmont Office Realty	Pair Corr
0.84	SLG	SL Green Realty	Pair Corr
0.82	PGRE	Paramount Group	Pair Corr
0.63	CRESY	Cresud SACIF y	Pair Corr

Moving against Summit Stock

0.79	CCI	Crown Castle	Pair Corr
0.77	MPW	Medical Properties Trust Aggressive Push	Pair Corr
0.76	AMT	American Tower Corp	Pair Corr
0.67	BNL	Broadstone Net Lease	Pair Corr
0.7	DX	Dynex Capital Sell-off Trend	Pair Corr
0.68	NTST	Netstreit Corp	Pair Corr
0.68	PSTL	Postal Realty Trust	Pair Corr
0.66	GLPI	Gaming Leisure Properties	Pair Corr
0.66	SBAC	SBA Communications Corp	Pair Corr
0.66	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.63	HASI	Hannon Armstrong Sus	Pair Corr
0.61	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.58	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.56	O	Realty Income	Pair Corr

Related Correlations Analysis

	DRH	RLJ-PA	PEB	SHO	RLJ	RHP	CLDT	HT
DRH		-0.42	0.96	0.96	0.97	0.95	0.93	0.0	DRH
RLJ-PA	-0.42		-0.3	-0.39	-0.41	-0.35	-0.48	0.0	RLJ-PA
PEB	0.96	-0.3		0.94	0.96	0.9	0.91	0.0	PEB
SHO	0.96	-0.39	0.94		0.94	0.91	0.92	0.0	SHO
RLJ	0.97	-0.41	0.96	0.94		0.91	0.92	0.0	RLJ
RHP	0.95	-0.35	0.9	0.91	0.91		0.89	0.0	RHP
CLDT	0.93	-0.48	0.91	0.92	0.92	0.89		0.0	CLDT
HT	0.0	0.0	0.0	0.0	0.0	0.0	0.0		HT
	DRH	RLJ-PA	PEB	SHO	RLJ	RHP	CLDT	HT

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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

RLJ	+ 0.97	DRH
PEB	+ 0.96	DRH
SHO	+ 0.96	DRH
RLJ	+ 0.96	PEB
RHP	+ 0.95	DRH
SHO	+ 0.94	PEB

High negative correlations

CLDT	- 0.48	RLJ-PA
RLJ-PA	- 0.42	DRH
RLJ	- 0.41	RLJ-PA
SHO	- 0.39	RLJ-PA
RHP	- 0.35	RLJ-PA
PEB	- 0.3	RLJ-PA

Risk-Adjusted Indicators

There is a big difference between Summit 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
DRH	1.18	(0.23)	0.00	(0.28)	0.00	0.00	2.20	(2.89)	9.19
RLJ-PA	0.25	0.02	0.17	0.45	0.21	(0.34)	0.68	(0.47)	2.27
PEB	1.70	(0.44)	0.00	(0.39)	0.00	0.00	2.40	(4.87)	10.19
SHO	1.20	(0.29)	0.00	(0.36)	0.00	0.00	2.17	(2.69)	8.41
RLJ	1.36	(0.28)	0.00	(0.50)	0.00	0.00	2.82	(3.35)	8.31
RHP	1.22	(0.16)	0.00	(0.21)	0.00	0.00	2.24	(2.76)	7.57
CLDT	1.22	(0.40)	0.00	0.64	0.00	0.00	1.98	(3.15)	7.81
HT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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