Alexanders Correlations

ALX Stock

USD 218.26 1.97 0.91%

The current 90-days correlation between Alexanders and Chimera Investment is 0.42 (i.e., Very weak diversification). The correlation of Alexanders 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.

Alexanders Correlation With Market

Weak diversification

The correlation between Alexanders and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alexanders and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alexanders Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alexanders. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

For more information on how to buy Alexanders Stock please use our How to Invest in Alexanders guide.

Moving together with Alexanders Stock

0.73	O	Realty Income	Pair Corr
0.78	UE	Urban Edge Properties	Pair Corr
0.75	DXC	Dexus Convenience Retail	Pair Corr
0.78	BRX	Brixmor Property	Pair Corr
0.81	KIM	Kimco Realty	Pair Corr
0.69	NNN	National Retail Prop	Pair Corr
0.61	REG	Regency Centers	Pair Corr
0.82	SITC	Site Centers Corp	Pair Corr
0.67	OPINL	Office Properties Income	Pair Corr

Moving against Alexanders Stock

0.65	GTY	Getty Realty	Pair Corr
0.62	SGR-U	Slate Grocery REIT	Pair Corr
0.5	ADC	Agree Realty	Pair Corr
0.79	TUXS	Tuxis	Pair Corr
0.79	PPERY	Bank Mandiri Persero	Pair Corr
0.79	TLK	Telkom Indonesia Tbk	Pair Corr
0.78	CTBG	Coil Tubing Technology	Pair Corr
0.75	TIAJF	Telecom Italia SpA	Pair Corr
0.71	MHTZF	Manhattan Limited	Pair Corr
0.63	PBCRF	PT Bank Central	Pair Corr
0.63	PBCRY	Bank Central Asia	Pair Corr
0.61	FN	Fabrinet	Pair Corr
0.54	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.39	BKRKF	PT Bank Rakyat	Pair Corr
0.38	PPERF	Bank Mandiri Persero	Pair Corr

Related Correlations Analysis

	CIM	AAT	ESRT	ALEX	ORC	XHR	JBGS
CIM		0.83	0.64	0.55	-0.52	0.29	0.83	CIM
AAT	0.83		0.73	0.6	-0.65	0.51	0.89	AAT
ESRT	0.64	0.73		0.33	-0.35	-0.02	0.8	ESRT
ALEX	0.55	0.6	0.33		-0.48	0.48	0.46	ALEX
ORC	-0.52	-0.65	-0.35	-0.48		-0.44	-0.71	ORC
XHR	0.29	0.51	-0.02	0.48	-0.44		0.24	XHR
JBGS	0.83	0.89	0.8	0.46	-0.71	0.24		JBGS
	CIM	AAT	ESRT	ALEX	ORC	XHR	JBGS

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

JBGS	+ 0.89	AAT
AAT	+ 0.83	CIM
JBGS	+ 0.83	CIM
JBGS	+ 0.8	ESRT
ESRT	+ 0.73	AAT
ESRT	+ 0.64	CIM

High negative correlations

JBGS	- 0.71	ORC
ORC	- 0.65	AAT
ORC	- 0.52	CIM
ORC	- 0.48	ALEX
XHR	- 0.44	ORC
ORC	- 0.35	ESRT

Risk-Adjusted Indicators

There is a big difference between Alexanders Stock performing well and Alexanders 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 Alexanders' 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
CIM	1.16	(0.21)	0.00	(0.14)	0.00	0.00	2.19	(2.13)	11.82
AAT	0.95	(0.16)	0.00	(0.14)	0.00	0.00	2.08	(2.48)	7.85
ESRT	1.51	(0.23)	0.00	(0.19)	0.00	0.00	2.19	(3.24)	11.97
ALEX	1.47	0.26	0.14	(11.84)	1.11	(1.90)	1.56	(2.15)	37.67
ORC	0.92	0.05	0.02	0.17	0.90	(1.07)	2.54	(1.37)	4.57
XHR	1.27	(0.04)	(0.03)	0.02	1.50	(1.38)	2.36	(2.35)	7.84
JBGS	1.38	(0.48)	0.00	(0.76)	0.00	0.00	2.70	(3.14)	8.80

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