Dynex Capital Correlations

DX Stock

USD 12.12 0.08 0.66%

The current 90-days correlation between Dynex Capital and Orchid Island Capital is 0.9 (i.e., Almost no diversification). The correlation of Dynex Capital 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.

Dynex Capital Correlation With Market

Poor diversification

The correlation between Dynex Capital and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynex Capital and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Dynex Stock

0.69	CG	Carlyle Group Normal Trading	Pair Corr
0.75	MC	Moelis Sell-off Trend	Pair Corr
0.74	SF	Stifel Financial	Pair Corr
0.75	TW	Tradeweb Markets	Pair Corr
0.74	VRTS	Virtus Investment	Pair Corr
0.69	EARN	Ellington Residential	Pair Corr
0.82	FDUS	Fidus Investment Corp	Pair Corr
0.66	ACR	Acres Commercial Realty	Pair Corr
0.65	BLK	BlackRock	Pair Corr
0.89	EFC	Ellington Financial	Pair Corr
0.76	FSK	FS KKR Capital	Pair Corr
0.78	LAZ	Lazard Normal Trading	Pair Corr
0.68	TOP	Zhong Yang Financial	Pair Corr
0.71	KREF	KKR Real Estate	Pair Corr
0.77	MITT	AG Mortgage Investment	Pair Corr
0.78	NREF	Nexpoint Real Estate	Pair Corr
0.91	PFLT	PennantPark Floating Rate	Pair Corr
0.86	PNNT	PennantPark Investment	Pair Corr

Related Correlations Analysis

	EARN	ORC	ARR	BRMK	EFC	ACRE	CHMI	TWO	RC	AGNC
EARN		0.79	0.83	0.0	0.81	0.78	0.58	-0.06	-0.17	0.73	EARN
ORC	0.79		0.94	0.0	0.93	0.74	0.89	0.49	0.23	0.83	ORC
ARR	0.83	0.94		0.0	0.93	0.89	0.83	0.27	0.08	0.9	ARR
BRMK	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BRMK
EFC	0.81	0.93	0.93	0.0		0.77	0.8	0.38	0.16	0.81	EFC
ACRE	0.78	0.74	0.89	0.0	0.77		0.68	-0.02	-0.07	0.85	ACRE
CHMI	0.58	0.89	0.83	0.0	0.8	0.68		0.62	0.38	0.78	CHMI
TWO	-0.06	0.49	0.27	0.0	0.38	-0.02	0.62		0.58	0.19	TWO
RC	-0.17	0.23	0.08	0.0	0.16	-0.07	0.38	0.58		0.33	RC
AGNC	0.73	0.83	0.9	0.0	0.81	0.85	0.78	0.19	0.33		AGNC
	EARN	ORC	ARR	BRMK	EFC	ACRE	CHMI	TWO	RC	AGNC

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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

ARR	+ 0.94	ORC
EFC	+ 0.93	ORC
EFC	+ 0.93	ARR
AGNC	+ 0.9	ARR
CHMI	+ 0.89	ORC
ACRE	+ 0.89	ARR

High negative correlations

RC	- 0.17	EARN
RC	- 0.07	ACRE
TWO	- 0.06	EARN
TWO	- 0.02	ACRE
AGNC	- 0.0	BRMK
RC	- 0.0	BRMK

Risk-Adjusted Indicators

There is a big difference between Dynex Stock performing well and Dynex Capital 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 Dynex Capital'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
EARN	1.56	0.01	0.00	0.06	2.36	(1.53)	3.59	(3.89)	9.02
ORC	1.40	(0.17)	0.00	(0.17)	0.00	0.00	2.70	(3.70)	11.09
ARR	1.44	(0.10)	0.00	(0.06)	0.00	0.00	2.84	(3.04)	10.79
BRMK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EFC	1.17	(0.03)	(0.02)	0.00	1.85	(1.15)	1.94	(3.41)	9.12
ACRE	2.15	0.09	0.03	0.12	2.71	(2.23)	3.37	(4.70)	17.78
CHMI	1.79	(0.21)	0.00	(0.16)	0.00	0.00	4.25	(3.91)	13.51
TWO	1.72	(0.35)	0.00	(0.33)	0.00	0.00	2.64	(4.63)	10.74
RC	2.03	(0.11)	0.00	(0.07)	0.00	0.00	4.43	(5.71)	14.31
AGNC	1.32	(0.07)	0.00	(0.04)	0.00	0.00	2.42	(3.55)	13.20

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