Piedmont Office Correlations

PDM Stock

USD 7.39 0.04 0.54%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Piedmont Office moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Piedmont Office Realty moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Piedmont Office Correlation With Market

Very weak diversification

The correlation between Piedmont Office Realty and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Piedmont Office Realty 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 Piedmont Office Realty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Piedmont Stock

0.67	CIO	City Office	Pair Corr
0.84	DEI	Douglas Emmett	Pair Corr
0.65	EQC	Equity Commonwealth	Pair Corr
0.9	IRM	Iron Mountain	Pair Corr
0.95	KRC	Kilroy Realty Corp	Pair Corr
0.89	PK	Park Hotels Resorts	Pair Corr
0.65	PW	Power REIT Earnings Call Tomorrow	Pair Corr
0.62	UE	Urban Edge Properties	Pair Corr

Moving against Piedmont Stock

0.82	O	Realty Income	Pair Corr
0.8	FR	First Industrial Realty	Pair Corr
0.76	DX	Dynex Capital	Pair Corr
0.75	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.73	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.72	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.69	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.69	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.35	WY	Weyerhaeuser	Pair Corr
0.83	VICI	VICI Properties	Pair Corr
0.74	FBRT	Franklin BSP Realty	Pair Corr
0.73	WELL	Welltower	Pair Corr
0.73	CDR-PB	Cedar Realty Trust	Pair Corr
0.7	MITT-PB	AG Mortgage Investment	Pair Corr
0.7	ELME	Elme Communities	Pair Corr
0.64	CDR-PC	Cedar Realty Trust	Pair Corr
0.6	MITT-PA	AG Mortgage Investment	Pair Corr
0.52	FCPT	Four Corners Property	Pair Corr
0.51	MITT-PC	AG Mortgage Investment	Pair Corr
0.48	DOUG	Douglas Elliman	Pair Corr
0.48	VNO-PL	Vornado Realty Trust	Pair Corr

Related Correlations Analysis

	OFC	HIW	DEI	KRC	CUZ	BDN	CIO	HPP	OPI	EQC
OFC		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OFC
HIW	0.0		0.68	0.63	0.5	0.57	0.64	0.27	-0.12	0.32	HIW
DEI	0.0	0.68		0.89	0.53	0.87	0.77	0.22	0.12	0.6	DEI
KRC	0.0	0.63	0.89		0.54	0.91	0.74	0.14	0.05	0.65	KRC
CUZ	0.0	0.5	0.53	0.54		0.57	0.47	0.65	0.22	0.44	CUZ
BDN	0.0	0.57	0.87	0.91	0.57		0.67	0.21	0.23	0.72	BDN
CIO	0.0	0.64	0.77	0.74	0.47	0.67		0.2	-0.05	0.42	CIO
HPP	0.0	0.27	0.22	0.14	0.65	0.21	0.2		0.28	-0.1	HPP
OPI	0.0	-0.12	0.12	0.05	0.22	0.23	-0.05	0.28		0.33	OPI
EQC	0.0	0.32	0.6	0.65	0.44	0.72	0.42	-0.1	0.33		EQC
	OFC	HIW	DEI	KRC	CUZ	BDN	CIO	HPP	OPI	EQC

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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

BDN	+ 0.91	KRC
KRC	+ 0.89	DEI
BDN	+ 0.87	DEI
CIO	+ 0.77	DEI
CIO	+ 0.74	KRC
EQC	+ 0.72	BDN

High negative correlations

OPI	- 0.12	HIW
EQC	- 0.1	HPP
OPI	- 0.05	CIO
EQC	- 0.0	OFC
OPI	- 0.0	OFC
HPP	- 0.0	OFC

Risk-Adjusted Indicators

There is a big difference between Piedmont Stock performing well and Piedmont Office 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 Piedmont Office'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HIW	1.34	(0.07)	(0.07)	0.00	0.00	2.75	(2.84)	7.07
DEI	1.92	(0.27)	(0.18)	0.00	0.00	3.89	(4.39)	10.12
KRC	1.91	(0.24)	(0.18)	0.00	0.00	3.44	(3.90)	9.23
CUZ	1.38	(0.04)	(0.04)	0.00	0.00	2.34	(3.17)	6.60
BDN	1.66	(0.34)	(0.28)	0.00	0.00	2.64	(4.27)	10.62
CIO	1.65	(0.11)	(0.10)	0.00	0.00	3.81	(3.73)	9.02
HPP	3.54	0.00	0.00	4.61	(3.91)	8.01	(6.06)	21.47
OPI	3.20	(0.89)	(1.47)	0.00	0.00	7.06	(10.71)	21.94
EQC	1.23	(0.08)	(0.20)	0.00	0.00	2.38	(2.33)	9.98

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