Vornado Realty Correlations

VNO Stock

USD 38.25 0.38 0.98%

The current 90-days correlation between Vornado Realty Trust and Boston Properties is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Vornado Realty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Vornado Realty Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Vornado Realty Correlation With Market

Very weak diversification

The correlation between Vornado Realty Trust and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vornado Realty Trust 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 Vornado Realty Trust. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Vornado Stock

0.67	CIO	City Office	Pair Corr
0.83	CUZ	Cousins Properties	Pair Corr
0.84	DEI	Douglas Emmett	Pair Corr
0.76	IRM	Iron Mountain	Pair Corr
0.76	KRC	Kilroy Realty Corp	Pair Corr
0.71	PDM	Piedmont Office Realty	Pair Corr
0.73	PK	Park Hotels Resorts	Pair Corr
0.74	RC	Ready Capital Corp	Pair Corr
0.8	UE	Urban Edge Properties	Pair Corr
0.67	EARN	Ellington Residential	Pair Corr
0.75	VTMX	Corporacin Inmobiliaria	Pair Corr

Moving against Vornado Stock

0.52	DX	Dynex Capital	Pair Corr
0.52	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.48	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.46	O	Realty Income	Pair Corr
0.45	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.44	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.44	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.67	CDR-PC	Cedar Realty Trust	Pair Corr
0.49	VICI	VICI Properties	Pair Corr
0.47	ELME	Elme Communities	Pair Corr
0.46	MITT-PA	AG Mortgage Investment	Pair Corr
0.43	NREF-PA	NexPoint Real Estate	Pair Corr
0.39	WELL	Welltower	Pair Corr
0.36	MITT-PC	AG Mortgage Investment	Pair Corr
0.32	MITT-PB	AG Mortgage Investment	Pair Corr
0.32	CDR-PB	Cedar Realty Trust	Pair Corr
0.32	FBRT	Franklin BSP Realty	Pair Corr

Related Correlations Analysis

	BXP	ARE	BDN	HPP	SLG	KRC	HIW	OFC	CUZ	DEI
BXP		0.09	0.89	0.38	0.93	0.9	0.78	0.0	0.71	0.91	BXP
ARE	0.09		0.03	0.4	0.07	0.07	0.36	0.0	0.03	0.09	ARE
BDN	0.89	0.03		0.26	0.88	0.93	0.65	0.0	0.61	0.89	BDN
HPP	0.38	0.4	0.26		0.37	0.19	0.34	0.0	0.66	0.29	HPP
SLG	0.93	0.07	0.88	0.37		0.81	0.7	0.0	0.69	0.9	SLG
KRC	0.9	0.07	0.93	0.19	0.81		0.69	0.0	0.56	0.89	KRC
HIW	0.78	0.36	0.65	0.34	0.7	0.69		0.0	0.5	0.75	HIW
OFC	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OFC
CUZ	0.71	0.03	0.61	0.66	0.69	0.56	0.5	0.0		0.54	CUZ
DEI	0.91	0.09	0.89	0.29	0.9	0.89	0.75	0.0	0.54		DEI
	BXP	ARE	BDN	HPP	SLG	KRC	HIW	OFC	CUZ	DEI

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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

SLG	+ 0.93	BXP
KRC	+ 0.93	BDN
DEI	+ 0.91	BXP
KRC	+ 0.9	BXP
DEI	+ 0.9	SLG
BDN	+ 0.89	BXP

High negative correlations

DEI	- 0.0	OFC
CUZ	- 0.0	OFC
OFC	- 0.0	HIW
OFC	- 0.0	KRC
OFC	- 0.0	SLG
OFC	- 0.0	HPP

Risk-Adjusted Indicators

There is a big difference between Vornado Stock performing well and Vornado Realty 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 Vornado Realty'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	Potential Upside	Value @Risk	Maximum Drawdown
BXP	1.62	(0.13)	(0.18)	2.43	(3.90)	9.26
ARE	1.23	(0.03)	(0.11)	2.70	(2.84)	7.58
BDN	1.66	(0.25)	(0.32)	2.64	(4.27)	10.62
HPP	3.59	0.08	(0.03)	8.01	(6.06)	21.47
SLG	1.71	(0.28)	(0.30)	2.90	(3.81)	8.94
KRC	1.89	(0.18)	(0.23)	3.44	(3.90)	9.48
HIW	1.32	(0.03)	(0.10)	2.75	(2.84)	7.07
OFC	0.00	0.00	0.00	0.00	0.00	0.00
CUZ	1.36	0.03	(0.04)	2.21	(3.17)	7.26
DEI	1.89	(0.23)	(0.27)	3.28	(4.39)	10.12

Vornado Realty Corporate Management

Jan LaChapelle	Executive Vice President - Head of Capital Markets	Profile
Catherine Creswell	Director Relations	Profile
Candace Beinecke	Lead Independent Trustee	Profile
Robert Entin	Chief VP	Profile
Deirdre Maddock	Senior Vice President Chief Accounting Officer	Profile
Daniel Tisch	Independent Trustee	Profile

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