New York Correlations

NYMT Stock

USD 6.79 0.09 1.31%

The current 90-days correlation between New York Mortgage and Two Harbors Investments is 0.63 (i.e., Poor diversification). The correlation of New York 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. If the correlation is 0, the equities are not correlated; they are entirely random.

New York Correlation With Market

Good diversification

The correlation between New York Mortgage and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New York Mortgage 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 New York Mortgage. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with New Stock

0.89	DX	Dynex Capital	Pair Corr
0.8	MITT	AG Mortgage Investment	Pair Corr
0.9	MITT-PA	AG Mortgage Investment	Pair Corr
0.79	MITT-PB	AG Mortgage Investment	Pair Corr
0.73	MITT-PC	AG Mortgage Investment	Pair Corr
0.83	RITM-PC	Rithm Capital Corp	Pair Corr
0.61	RITM-PD	Rithm Capital Corp	Pair Corr
0.65	RITM-PA	Rithm Capital Corp	Pair Corr
0.83	RITM-PB	Rithm Capital Corp	Pair Corr
0.89	NREF	Nexpoint Real Estate	Pair Corr
0.85	FBRT	Franklin BSP Realty	Pair Corr
0.74	NREF-PA	NexPoint Real Estate	Pair Corr
0.85	ACR	Acres Commercial Realty	Pair Corr
0.63	ARI	Apollo Commercial Real	Pair Corr
0.69	ARR	ARMOUR Residential REIT	Pair Corr
0.9	EFC	Ellington Financial	Pair Corr
0.73	IVR	Invesco Mortgage Capital	Pair Corr
0.77	LFT	Lument Finance Trust	Pair Corr
0.75	MFA	MFA Financial	Pair Corr
0.82	NLY	Annaly Capital Management	Pair Corr
0.7	ORC	Orchid Island Capital	Pair Corr
0.91	PMT	PennyMac Mortgage	Pair Corr
0.75	TWO-PB	Two Harbors Investment	Pair Corr

Moving against New Stock

0.7	RC	Ready Capital Corp	Pair Corr
0.61	ABR	Arbor Realty Trust	Pair Corr
0.46	EARN	Ellington Residential	Pair Corr
0.4	NYMTL	New York Mortgage	Pair Corr
0.37	CIM	Chimera Investment	Pair Corr
0.58	CHMI-PA	Cherry Hill Mortgage	Pair Corr
0.35	LFT-PA	Lument Finance Trust	Pair Corr

Related Correlations Analysis

	TWO	ARR	NLY	AGNC	CIM	ORC	IVR	RC	EFC
TWO		0.83	0.99	0.98	-0.17	0.94	0.93	-0.59	0.94	TWO
ARR	0.83		0.84	0.84	-0.04	0.85	0.91	-0.29	0.74	ARR
NLY	0.99	0.84		0.99	-0.13	0.93	0.94	-0.57	0.93	NLY
AGNC	0.98	0.84	0.99		-0.08	0.95	0.95	-0.49	0.9	AGNC
CIM	-0.17	-0.04	-0.13	-0.08		-0.09	0.0	0.49	-0.26	CIM
ORC	0.94	0.85	0.93	0.95	-0.09		0.95	-0.33	0.82	ORC
IVR	0.93	0.91	0.94	0.95	0.0	0.95		-0.37	0.82	IVR
RC	-0.59	-0.29	-0.57	-0.49	0.49	-0.33	-0.37		-0.68	RC
EFC	0.94	0.74	0.93	0.9	-0.26	0.82	0.82	-0.68		EFC
	TWO	ARR	NLY	AGNC	CIM	ORC	IVR	RC	EFC

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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

NLY	+ 0.99	TWO
AGNC	+ 0.99	NLY
AGNC	+ 0.98	TWO
ORC	+ 0.95	AGNC
IVR	+ 0.95	AGNC
IVR	+ 0.95	ORC

High negative correlations

EFC	- 0.68	RC
RC	- 0.59	TWO
RC	- 0.57	NLY
RC	- 0.49	AGNC
RC	- 0.37	IVR
RC	- 0.33	ORC

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New York 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 New York'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
TWO	1.06	0.32	0.31	4.13	0.93	(1.23)	2.25	(1.58)	10.25
ARR	0.78	0.05	0.11	0.46	0.96	(0.82)	1.57	(1.35)	4.93
NLY	0.99	0.28	0.32	3.49	0.86	(1.23)	2.42	(1.46)	6.82
AGNC	0.81	0.18	0.26	4.49	0.72	(0.95)	1.77	(1.45)	4.66
CIM	1.13	(0.04)	0.00	(3.27)	0.00	0.00	2.63	(2.40)	10.76
ORC	0.94	0.17	0.21	0.81	0.84	(1.06)	1.93	(1.40)	8.39
IVR	1.09	0.18	0.17	0.88	1.21	(1.25)	2.32	(1.57)	8.74
RC	1.89	(0.51)	0.00	0.62	0.00	0.00	2.28	(2.92)	31.28
EFC	0.88	0.19	0.21	(2.74)	0.92	(0.97)	1.46	(1.85)	12.37

New York Corporate Executives

Elected by the shareholders, the New York's board of directors comprises two types of representatives: New York inside directors who are chosen from within the company, and outside directors, selected externally and held independent of New. The board's role is to monitor New York's management team and ensure that shareholders' interests are well served. New York's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, New York's outside directors are responsible for providing unbiased perspectives on the board's policies.

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