Real Estate Correlations

PFRSX Fund

USD 28.89 0.41 1.44%

The current 90-days correlation between Real Estate Securities and Ivy Science And is 0.31 (i.e., Weak diversification). The correlation of Real Estate 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.

Real Estate Correlation With Market

Very weak diversification

The correlation between Real Estate Securities and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Real Estate Securities 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 Real Estate Securities. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Real Mutual Fund

0.78	O	Realty Income	Pair Corr
0.7	DX	Dynex Capital Sell-off Trend	Pair Corr
0.83	FR	First Industrial Realty	Pair Corr
0.63	HR	Healthcare Realty Trust	Pair Corr
0.63	WY	Weyerhaeuser	Pair Corr
0.64	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.66	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.67	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.65	VNO-PL	Vornado Realty Trust	Pair Corr
0.77	VICI	VICI Properties	Pair Corr
0.78	MITT-PA	AG Mortgage Investment	Pair Corr
0.8	MITT-PB	AG Mortgage Investment	Pair Corr
0.67	MITT-PC	AG Mortgage Investment	Pair Corr
0.77	ELME	Elme Communities	Pair Corr
0.78	WELL	Welltower	Pair Corr
0.62	CDR-PB	Cedar Realty Trust	Pair Corr

Moving against Real Mutual Fund

0.58	PW	Power REIT Earnings Call This Week	Pair Corr
0.47	PK	Park Hotels Resorts	Pair Corr
0.32	RC	Ready Capital Corp	Pair Corr
0.52	WETH	Wetouch Technology Common	Pair Corr
0.51	WHLR	Wheeler Real Estate	Pair Corr
0.44	ESBA	Empire State Realty	Pair Corr
0.44	ABR	Arbor Realty Trust Sell-off Trend	Pair Corr
0.43	AAT	American Assets Trust	Pair Corr
0.41	FISK	Empire State Realty	Pair Corr
0.38	ESRT	Empire State Realty	Pair Corr
0.34	EXPI	eXp World Holdings	Pair Corr
0.33	AHH	Armada Hflr Pr	Pair Corr

Related Correlations Analysis

	WSTRX	WFTIX	SBHIX	DTEYX	RAGTX	CONIX
WSTRX		0.92	0.02	0.99	0.92	0.9	WSTRX
WFTIX	0.92		0.0	0.93	0.88	0.97	WFTIX
SBHIX	0.02	0.0		-0.03	-0.25	-0.02	SBHIX
DTEYX	0.99	0.93	-0.03		0.93	0.9	DTEYX
RAGTX	0.92	0.88	-0.25	0.93		0.91	RAGTX
CONIX	0.9	0.97	-0.02	0.9	0.91		CONIX
	WSTRX	WFTIX	SBHIX	DTEYX	RAGTX	CONIX

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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

DTEYX	+ 0.99	WSTRX
CONIX	+ 0.97	WFTIX
DTEYX	+ 0.93	WFTIX
RAGTX	+ 0.93	DTEYX
WFTIX	+ 0.92	WSTRX
RAGTX	+ 0.92	WSTRX

High negative correlations

RAGTX	- 0.25	SBHIX
DTEYX	- 0.03	SBHIX
CONIX	- 0.02	SBHIX
SBHIX	- 0.0	WFTIX

Risk-Adjusted Indicators

There is a big difference between Real Mutual Fund performing well and Real Estate Mutual Fund 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 Real Estate'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
WSTRX	1.35	(0.07)	0.00	(0.10)	0.00	0.00	2.25	(3.60)	7.04
WFTIX	0.90	(0.13)	0.00	0.68	0.00	0.00	1.72	(2.29)	4.88
SBHIX	0.63	0.04	0.07	0.04	0.73	(0.68)	1.20	(1.17)	3.37
DTEYX	1.39	(0.07)	0.00	(0.10)	0.00	0.00	2.50	(3.77)	7.35
RAGTX	1.46	(0.17)	0.00	(0.18)	0.00	0.00	2.83	(3.76)	8.10
CONIX	0.62	(0.10)	0.00	2.06	0.00	0.00	1.18	(1.47)	3.04

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