AvalonBay Communities Correlations

AVB Stock

USD 202.57 0.57 0.28%

The current 90-days correlation between AvalonBay Communities and Canada Goose Holdings is 0.19 (i.e., Average diversification). The correlation of AvalonBay Communities 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.

AvalonBay Communities Correlation With Market

Very poor diversification

The correlation between AvalonBay Communities and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AvalonBay Communities and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade AvalonBay Stock refer to our How to Trade AvalonBay Stock guide.

Moving together with AvalonBay Stock

0.71	O	Realty Income Sell-off Trend	Pair Corr
0.62	Z	Zillow Group Class	Pair Corr
0.73	FR	First Industrial Realty	Pair Corr
0.82	UE	Urban Edge Properties	Pair Corr
0.63	VICI	VICI Properties	Pair Corr
0.72	ELME	Elme Communities	Pair Corr
0.79	EPRT	Essential Properties	Pair Corr
0.72	WELL	Welltower	Pair Corr
0.61	FCPT	Four Corners Property	Pair Corr
0.61	AAT	American Assets Trust	Pair Corr
0.65	AIV	Apartment Investment and	Pair Corr
0.71	AKR	Acadia Realty Trust	Pair Corr
0.68	AMH	American Homes 4	Pair Corr
0.62	BDN	Brandywine Realty Trust	Pair Corr
0.61	BFS	Saul Centers	Pair Corr
0.77	BNL	Broadstone Net Lease	Pair Corr
0.8	BRX	Brixmor Property	Pair Corr
0.62	BXP	Boston Properties	Pair Corr

Related Correlations Analysis

	GOOS	CTAS	TLF	ZUMZ	NTGR	ALNT	KLIC	IPGP
GOOS		0.86	0.88	-0.1	0.74	0.87	0.68	0.85	GOOS
CTAS	0.86		0.71	-0.13	0.89	0.82	0.69	0.86	CTAS
TLF	0.88	0.71		0.02	0.6	0.78	0.63	0.77	TLF
ZUMZ	-0.1	-0.13	0.02		-0.08	0.08	0.21	0.14	ZUMZ
NTGR	0.74	0.89	0.6	-0.08		0.79	0.72	0.86	NTGR
ALNT	0.87	0.82	0.78	0.08	0.79		0.83	0.9	ALNT
KLIC	0.68	0.69	0.63	0.21	0.72	0.83		0.91	KLIC
IPGP	0.85	0.86	0.77	0.14	0.86	0.9	0.91		IPGP
	GOOS	CTAS	TLF	ZUMZ	NTGR	ALNT	KLIC	IPGP

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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

IPGP	+ 0.91	KLIC
IPGP	+ 0.9	ALNT
NTGR	+ 0.89	CTAS
TLF	+ 0.88	GOOS
ALNT	+ 0.87	GOOS
CTAS	+ 0.86	GOOS

High negative correlations

ZUMZ	- 0.13	CTAS
ZUMZ	- 0.1	GOOS
NTGR	- 0.08	ZUMZ

Risk-Adjusted Indicators

There is a big difference between AvalonBay Stock performing well and AvalonBay Communities 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 AvalonBay Communities' 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
GOOS	2.61	0.62	0.20	0.87	2.63	(3.15)	6.94	(4.44)	24.42
CTAS	1.02	0.02	0.00	0.12	1.67	(1.05)	1.74	(1.83)	11.16
TLF	1.68	0.12	0.02	0.68	1.79	(2.00)	4.25	(3.16)	10.24
ZUMZ	2.87	(0.15)	(0.02)	0.02	3.73	(3.10)	5.66	(7.14)	25.22
NTGR	2.48	0.19	0.07	0.22	3.10	(3.07)	5.80	(4.12)	22.43
ALNT	2.35	0.81	0.34	0.91	1.73	(2.78)	5.03	(3.08)	24.56
KLIC	2.19	0.06	0.04	0.14	3.23	(2.30)	4.09	(3.83)	24.61
IPGP	2.39	0.10	0.04	0.16	4.00	(2.32)	5.17	(5.39)	28.70

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