Outfront Media Correlations

OUT Stock

USD 16.27 0.22 1.33%

The current 90-days correlation between Outfront Media and PotlatchDeltic Corp is 0.35 (i.e., Weak diversification). The correlation of Outfront Media 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.

Outfront Media Correlation With Market

Poor diversification

The correlation between Outfront Media and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Outfront Media and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Outfront Media. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Outfront Stock please use our How to Invest in Outfront Media guide.

Moving together with Outfront Stock

0.75	Z	Zillow Group Class	Pair Corr
0.79	EQIX	Equinix	Pair Corr
0.92	LAMR	Lamar Advertising	Pair Corr
0.7	RC	Ready Capital Corp	Pair Corr
0.68	UE	Urban Edge Properties	Pair Corr

Moving against Outfront Stock

0.37	AMT	American Tower Corp	Pair Corr
0.35	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.33	DX	Dynex Capital	Pair Corr

Related Correlations Analysis

	PCH	GLPI	RYN	WY	FPI	DLR	IRM	CCI	EQIX
PCH		0.83	0.3	0.83	0.02	-0.77	-0.65	0.51	-0.45	PCH
GLPI	0.83		0.67	0.68	-0.24	-0.63	-0.56	0.82	-0.43	GLPI
RYN	0.3	0.67		0.34	-0.62	-0.13	-0.15	0.85	-0.22	RYN
WY	0.83	0.68	0.34		0.11	-0.45	-0.23	0.34	-0.21	WY
FPI	0.02	-0.24	-0.62	0.11		0.22	0.23	-0.56	0.46	FPI
DLR	-0.77	-0.63	-0.13	-0.45	0.22		0.9	-0.48	0.82	DLR
IRM	-0.65	-0.56	-0.15	-0.23	0.23	0.9		-0.48	0.76	IRM
CCI	0.51	0.82	0.85	0.34	-0.56	-0.48	-0.48		-0.51	CCI
EQIX	-0.45	-0.43	-0.22	-0.21	0.46	0.82	0.76	-0.51		EQIX
	PCH	GLPI	RYN	WY	FPI	DLR	IRM	CCI	EQIX

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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

IRM	+ 0.9	DLR
CCI	+ 0.85	RYN
GLPI	+ 0.83	PCH
WY	+ 0.83	PCH
CCI	+ 0.82	GLPI
EQIX	+ 0.82	DLR

High negative correlations

DLR	- 0.77	PCH
IRM	- 0.65	PCH
DLR	- 0.63	GLPI
FPI	- 0.62	RYN
CCI	- 0.56	FPI
IRM	- 0.56	GLPI

Risk-Adjusted Indicators

There is a big difference between Outfront Stock performing well and Outfront Media 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 Outfront Media'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
PCH	1.31	0.15	0.11	0.15	1.47	(1.55)	2.57	(2.09)	6.94
GLPI	0.93	0.10	0.11	0.11	1.10	(0.96)	2.28	(1.82)	4.97
RYN	1.08	0.00	0.00	(0.08)	0.00	0.00	2.39	(2.08)	4.40
WY	1.26	0.01	0.00	(0.05)	0.00	0.00	2.62	(2.18)	7.33
FPI	1.26	0.01	0.04	(0.02)	1.69	(1.31)	2.77	(3.05)	11.74
DLR	1.47	(0.23)	0.00	(0.36)	0.00	0.00	2.68	(4.16)	11.70
IRM	1.72	(0.27)	0.00	(0.45)	0.00	0.00	2.61	(6.25)	11.11
CCI	1.31	0.18	0.13	0.22	1.43	(1.41)	2.68	(2.40)	10.66
EQIX	1.17	(0.13)	0.00	(0.26)	0.00	0.00	2.01	(3.59)	7.54

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