Real Estate Correlations

PRCEX Fund

USD 28.01 0.30 1.06%

The current 90-days correlation between Real Estate Securities and Alpine High Yield is 0.03 (i.e., Significant 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 income.

Moving together with Real Mutual Fund

0.76	O	Realty Income	Pair Corr
0.68	DX	Dynex Capital	Pair Corr
0.81	FR	First Industrial Realty	Pair Corr
0.65	HR	Healthcare Realty Trust	Pair Corr
0.61	WY	Weyerhaeuser	Pair Corr
0.62	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.63	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.64	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.64	VNO-PL	Vornado Realty Trust	Pair Corr
0.76	VICI	VICI Properties	Pair Corr
0.76	MITT-PA	AG Mortgage Investment	Pair Corr
0.79	MITT-PB	AG Mortgage Investment	Pair Corr
0.65	MITT-PC	AG Mortgage Investment	Pair Corr
0.76	ELME	Elme Communities	Pair Corr
0.76	WELL	Welltower	Pair Corr

Moving against Real Mutual Fund

0.56	PW	Power REIT Earnings Call This Week	Pair Corr
0.45	PK	Park Hotels Resorts	Pair Corr
0.5	WETH	Wetouch Technology Common	Pair Corr
0.48	WHLR	Wheeler Real Estate	Pair Corr
0.42	ESBA	Empire State Realty	Pair Corr
0.41	ABR	Arbor Realty Trust	Pair Corr
0.4	AAT	American Assets Trust	Pair Corr
0.39	FISK	Empire State Realty	Pair Corr
0.35	ESRT	Empire State Realty	Pair Corr
0.31	EXPI	eXp World Holdings	Pair Corr
0.31	AHH	Armada Hflr Pr	Pair Corr

Related Correlations Analysis

	AHYMX	ARCIX	AQRRX	MWHIX	JCTFX	TAHFX
AHYMX		0.51	0.69	0.94	0.91	0.76	AHYMX
ARCIX	0.51		0.79	0.69	0.63	0.71	ARCIX
AQRRX	0.69	0.79		0.76	0.81	0.86	AQRRX
MWHIX	0.94	0.69	0.76		0.93	0.83	MWHIX
JCTFX	0.91	0.63	0.81	0.93		0.89	JCTFX
TAHFX	0.76	0.71	0.86	0.83	0.89		TAHFX
	AHYMX	ARCIX	AQRRX	MWHIX	JCTFX	TAHFX

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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
AHYMX	0.12	0.00	0.15	0.13	0.13	(0.18)	0.22	(0.33)	0.76
ARCIX	0.54	0.12	0.19	(1.90)	0.51	(0.60)	1.22	(1.02)	4.94
AQRRX	0.49	0.02	0.09	(0.31)	0.63	(0.53)	1.02	(1.08)	3.50
MWHIX	0.12	0.00	0.20	(0.04)	0.06	(0.21)	0.54	(0.22)	0.87
JCTFX	0.24	(0.01)	0.06	(0.17)	0.34	(0.31)	0.43	(0.56)	2.30
TAHFX	0.16	0.00	0.11	(0.08)	0.19	(0.21)	0.49	(0.25)	1.24

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