Alternative Income Correlations

AIRE Stock

78.90 0.20 0.25%

The current 90-days correlation between Alternative Income REIT and Renew Holdings plc is 0.03 (i.e., Significant diversification). The correlation of Alternative Income 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.

Alternative Income Correlation With Market

Poor diversification

The correlation between Alternative Income REIT and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alternative Income REIT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Alternative Income could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alternative Income when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Alternative Income - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Alternative Income REIT to buy it.

Moving together with Alternative Stock

0.82	DLN	Derwent London PLC	Pair Corr
0.81	HMSO	Hammerson PLC	Pair Corr
0.83	SUPR	Supermarket Income REIT	Pair Corr
0.8	WKP	Workspace Group PLC	Pair Corr
0.91	SMSN	Samsung Electronics	Pair Corr
0.91	SMSD	Samsung Electronics	Pair Corr
0.91	BC94	Samsung Electronics	Pair Corr
0.88	TYT	Toyota Motor Corp	Pair Corr
0.74	0QYR	Panasonic Corp	Pair Corr
0.81	AAZ	Anglo Asian Mining	Pair Corr
0.77	0J4G	Helmerich Payne	Pair Corr
0.84	0QGU	CNH Industrial NV Earnings Call This Week	Pair Corr
0.88	CAML	Central Asia Metals	Pair Corr
0.77	0RP0	Tikehau Capital SCA Earnings Call This Week	Pair Corr
0.92	RIO	Rio Tinto PLC Earnings Call This Week	Pair Corr
0.78	0J71	JB Hunt Transport	Pair Corr
0.78	0KDH	Ormat Technologies	Pair Corr
0.87	WEIR	Weir Group PLC	Pair Corr
0.69	FGEN	Foresight Environmental	Pair Corr
0.84	SGRO	Segro Plc Earnings Call This Week	Pair Corr
0.79	0I4X	Crown Holdings	Pair Corr
0.8	SLP	Sylvania Platinum	Pair Corr
0.79	0QZ2	Silvercorp Metals	Pair Corr
0.84	0RKH	BW Offshore	Pair Corr
0.84	SPX	Spirax Sarco Enginee	Pair Corr
0.89	JEDT	JPMorgan Euro Small	Pair Corr
0.77	PCFT	Polar Capital Global Earnings Call This Week	Pair Corr
0.85	SDR	Schroders PLC	Pair Corr
0.87	WGLD	WisdomTree Core Physical	Pair Corr
0.87	GMET	Golden Metal Resources	Pair Corr
0.68	PRTC	PureTech Health plc	Pair Corr
0.84	YNGA	Young CoS Brewery	Pair Corr

Moving against Alternative Stock

0.83	0R15	SoftBank Group Corp	Pair Corr
0.73	RIGD	Reliance Industries	Pair Corr

Related Correlations Analysis

	DLN	HMSO	SUPR	WKP	PCFT	0MPL	DOM	0R9X	0OIY	RNWH
DLN		0.88	0.9	0.96	0.76	0.81	0.81	0.84	0.66	0.52	DLN
HMSO	0.88		0.93	0.82	0.84	0.88	0.79	0.92	0.76	0.56	HMSO
SUPR	0.9	0.93		0.87	0.76	0.89	0.88	0.9	0.72	0.6	SUPR
WKP	0.96	0.82	0.87		0.76	0.77	0.79	0.79	0.6	0.43	WKP
PCFT	0.76	0.84	0.76	0.76		0.75	0.6	0.81	0.69	0.16	PCFT
0MPL	0.81	0.88	0.89	0.77	0.75		0.88	0.86	0.73	0.6	0MPL
DOM	0.81	0.79	0.88	0.79	0.6	0.88		0.85	0.57	0.59	DOM
0R9X	0.84	0.92	0.9	0.79	0.81	0.86	0.85		0.74	0.47	0R9X
0OIY	0.66	0.76	0.72	0.6	0.69	0.73	0.57	0.74		0.32	0OIY
RNWH	0.52	0.56	0.6	0.43	0.16	0.6	0.59	0.47	0.32		RNWH
	DLN	HMSO	SUPR	WKP	PCFT	0MPL	DOM	0R9X	0OIY	RNWH

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Risk-Adjusted Indicators

There is a big difference between Alternative Stock performing well and Alternative Income 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 Alternative Income'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
DLN	1.00	(0.04)	(0.05)	(0.02)	1.37	(1.00)	2.10	(2.12)	6.55
HMSO	1.18	0.13	0.07	0.55	1.18	(1.30)	2.13	(1.66)	9.69
SUPR	0.71	0.08	0.03	0.51	0.80	(0.77)	1.88	(1.36)	4.34
WKP	1.05	0.02	(0.02)	0.20	1.47	(1.20)	2.18	(2.13)	7.65
PCFT	0.76	0.06	0.02	0.22	0.89	(0.83)	1.61	(1.58)	6.44
0MPL	2.06	0.80	0.35	1.50	1.41	(2.79)	4.32	(2.70)	24.47
DOM	1.07	0.13	0.09	0.32	1.03	(1.28)	2.30	(1.63)	6.73
0R9X	1.08	0.17	0.10	0.40	1.04	(1.19)	2.65	(2.00)	7.48
0OIY	1.65	0.48	0.21	(0.68)	1.18	(2.61)	3.39	(2.68)	18.10
RNWH	0.84	0.01	(0.03)	0.13	0.98	(0.90)	1.90	(1.65)	6.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alternative Income without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Alternative Income Corporate Management

Elected by the shareholders, the Alternative Income's board of directors comprises two types of representatives: Alternative Income inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Alternative. The board's role is to monitor Alternative Income's management team and ensure that shareholders' interests are well served. Alternative Income's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Alternative Income's outside directors are responsible for providing unbiased perspectives on the board's policies.

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