Mid America Correlations

MAA Stock

USD 165.90 0.65 0.39%

The current 90-days correlation between Mid America Apartment and AvalonBay Communities is 0.88 (i.e., Very poor diversification). The correlation of Mid America 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.

Mid America Correlation With Market

Modest diversification

The correlation between Mid America Apartment Communit and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid America Apartment Communit and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mid America Apartment Communities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Mid Stock

0.9	O	Realty Income	Pair Corr
0.83	FR	First Industrial Realty	Pair Corr
0.93	VICI	VICI Properties	Pair Corr
0.93	ELME	Elme Communities	Pair Corr
0.88	WELL	Welltower	Pair Corr
0.86	FCPT	Four Corners Property	Pair Corr
0.8	ADC	Agree Realty	Pair Corr
0.66	AHR	American Healthcare REIT,	Pair Corr
0.91	ALX	Alexanders	Pair Corr
0.88	AMT	American Tower Corp	Pair Corr
0.8	BNL	Broadstone Net Lease	Pair Corr
0.68	CCI	Crown Castle	Pair Corr

Moving against Mid Stock

0.83	PK	Park Hotels Resorts	Pair Corr
0.8	WHLR	Wheeler Real Estate	Pair Corr
0.78	ESRT	Empire State Realty	Pair Corr
0.74	ESBA	Empire State Realty	Pair Corr
0.61	PW	Power REIT	Pair Corr
0.55	EQIX	Equinix	Pair Corr
0.41	UE	Urban Edge Properties	Pair Corr
0.78	FISK	Empire State Realty	Pair Corr
0.78	AAT	American Assets Trust	Pair Corr
0.77	BDN	Brandywine Realty Trust	Pair Corr
0.7	AHH	Armada Hflr Pr Sell-off Trend	Pair Corr
0.38	AKR	Acadia Realty Trust	Pair Corr
0.34	BFS	Saul Centers	Pair Corr
0.84	DLR	Digital Realty Trust	Pair Corr
0.83	CDP	COPT Defense Properties	Pair Corr
0.81	DRH	Diamondrock Hospitality	Pair Corr
0.63	BXP	Boston Properties	Pair Corr

Related Correlations Analysis

	AVB	ESS	EQR	UDR	CPT	NXRT
AVB		0.23	0.77	0.14	0.26	0.61	AVB
ESS	0.23		0.76	0.79	0.93	0.19	ESS
EQR	0.77	0.76		0.65	0.79	0.6	EQR
UDR	0.14	0.79	0.65		0.89	0.46	UDR
CPT	0.26	0.93	0.79	0.89		0.35	CPT
NXRT	0.61	0.19	0.6	0.46	0.35		NXRT
	AVB	ESS	EQR	UDR	CPT	NXRT

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Risk-Adjusted Indicators

There is a big difference between Mid Stock performing well and Mid America 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 Mid America'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
AVB	0.94	0.00	0.00	(0.03)	0.00	0.00	2.29	(2.20)	5.27
ESS	1.01	0.16	0.13	0.20	1.13	(1.03)	2.21	(1.99)	6.26
EQR	1.00	0.07	0.06	0.08	1.24	(1.00)	2.22	(2.11)	6.21
UDR	1.01	0.06	0.07	(0.27)	1.15	(1.14)	2.19	(1.96)	6.14
CPT	1.03	0.13	0.11	0.21	1.25	(1.07)	2.12	(1.82)	5.21
NXRT	1.31	(0.06)	0.00	(0.09)	0.00	0.00	2.25	(2.26)	6.31

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