Sunstone Hotel Correlations

SHO Stock

USD 9.77 0.09 0.91%

The current 90-days correlation between Sunstone Hotel Investors and RLJ Lodging Trust is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sunstone Hotel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sunstone Hotel Investors moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sunstone Hotel Correlation With Market

Very weak diversification

The correlation between Sunstone Hotel Investors and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunstone Hotel Investors and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sunstone Hotel Investors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Sunstone Stock

0.77	UE	Urban Edge Properties	Pair Corr
0.82	EQIX	Equinix	Pair Corr
0.92	ESBA	Empire State Realty	Pair Corr
0.9	FISK	Empire State Realty	Pair Corr
0.73	AKR	Acadia Realty Trust	Pair Corr
0.88	BDN	Brandywine Realty Trust	Pair Corr
0.61	BFS	Saul Centers	Pair Corr
0.78	BXP	Boston Properties	Pair Corr
0.61	CIO	City Office	Pair Corr
0.77	DEI	Douglas Emmett	Pair Corr
0.92	DLR	Digital Realty Trust	Pair Corr
0.78	EQC	Equity Commonwealth	Pair Corr
0.87	INN	Summit Hotel Properties	Pair Corr
0.85	IRM	Iron Mountain	Pair Corr
0.83	KRC	Kilroy Realty Corp	Pair Corr
0.79	KRG	Kite Realty Group	Pair Corr
0.79	LPA	Logistic Properties	Pair Corr
0.86	PDM	Piedmont Office Realty	Pair Corr
0.85	SLG	SL Green Realty	Pair Corr
0.86	PGRE	Paramount Group	Pair Corr
0.84	CRESY	Cresud SACIF y	Pair Corr

Moving against Sunstone Stock

0.93	MPW	Medical Properties Trust	Pair Corr
0.9	AMT	American Tower Corp	Pair Corr
0.77	BNL	Broadstone Net Lease	Pair Corr
0.75	CCI	Crown Castle	Pair Corr
0.48	AIV	Apartment Investment and	Pair Corr
0.91	DX	Dynex Capital	Pair Corr
0.89	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.83	O	Realty Income	Pair Corr
0.83	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.82	SBAC	SBA Communications Corp	Pair Corr
0.82	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.81	GLPI	Gaming Leisure Properties	Pair Corr
0.81	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.79	PSTL	Postal Realty Trust	Pair Corr
0.79	AHT-PH	Ashford Hospitality Trust	Pair Corr

Related Correlations Analysis

	RLJ	PEB	INN	RHP	DRH	RLJ-PA	CLDT
RLJ		0.96	0.93	0.91	0.97	-0.41	0.92	RLJ
PEB	0.96		0.9	0.9	0.96	-0.3	0.91	PEB
INN	0.93	0.9		0.83	0.88	-0.28	0.86	INN
RHP	0.91	0.9	0.83		0.95	-0.35	0.89	RHP
DRH	0.97	0.96	0.88	0.95		-0.42	0.93	DRH
RLJ-PA	-0.41	-0.3	-0.28	-0.35	-0.42		-0.48	RLJ-PA
CLDT	0.92	0.91	0.86	0.89	0.93	-0.48		CLDT
	RLJ	PEB	INN	RHP	DRH	RLJ-PA	CLDT

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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

DRH	+ 0.97	RLJ
PEB	+ 0.96	RLJ
DRH	+ 0.96	PEB
DRH	+ 0.95	RHP
INN	+ 0.93	RLJ
CLDT	+ 0.93	DRH

High negative correlations

CLDT	- 0.48	RLJ-PA
RLJ-PA	- 0.42	DRH
RLJ-PA	- 0.41	RLJ
RLJ-PA	- 0.35	RHP
RLJ-PA	- 0.3	PEB
RLJ-PA	- 0.28	INN

Risk-Adjusted Indicators

There is a big difference between Sunstone Stock performing well and Sunstone Hotel 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 Sunstone Hotel'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
RLJ	1.36	(0.28)	0.00	(0.50)	0.00	0.00	2.82	(3.35)	8.31
PEB	1.70	(0.44)	0.00	(0.39)	0.00	0.00	2.40	(4.87)	10.19
INN	1.50	(0.22)	0.00	(0.24)	0.00	0.00	2.72	(3.52)	8.37
RHP	1.22	(0.16)	0.00	(0.21)	0.00	0.00	2.24	(2.76)	7.57
DRH	1.18	(0.23)	0.00	(0.28)	0.00	0.00	2.20	(2.89)	9.19
RLJ-PA	0.25	0.02	0.17	0.45	0.21	(0.34)	0.68	(0.47)	2.27
CLDT	1.22	(0.40)	0.00	0.64	0.00	0.00	1.98	(3.15)	7.81

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