Elme Communities Correlations

ELME Stock

USD 16.84 0.10 0.59%

The current 90-days correlation between Elme Communities and Nexpoint Residential Trust is 0.67 (i.e., Poor diversification). The correlation of Elme 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.

Elme Communities Correlation With Market

Modest diversification

The correlation between Elme Communities and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elme Communities and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elme 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 population.

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

Moving together with Elme Stock

0.93	O	Realty Income Sell-off Trend	Pair Corr
0.9	FR	First Industrial Realty Earnings Call This Week	Pair Corr
0.85	HR	Healthcare Realty Trust	Pair Corr
0.9	UE	Urban Edge Properties	Pair Corr
0.74	WY	Weyerhaeuser Fiscal Year End 23rd of January 2025	Pair Corr
0.95	VICI	VICI Properties Sell-off Trend	Pair Corr
0.82	EPRT	Essential Properties	Pair Corr
0.8	EQIX	Equinix	Pair Corr
0.93	WELL	Welltower	Pair Corr
0.92	FCPT	Four Corners Property	Pair Corr
0.92	AAT	American Assets Trust	Pair Corr
0.94	ADC	Agree Realty	Pair Corr
0.83	AHR	American Healthcare REIT,	Pair Corr
0.67	AIV	Apartment Investment and	Pair Corr
0.92	AKR	Acadia Realty Trust	Pair Corr
0.83	AMH	American Homes 4 Potential Growth	Pair Corr
0.91	AMT	American Tower Corp	Pair Corr
0.93	AVB	AvalonBay Communities	Pair Corr
0.77	BDN	Brandywine Realty Trust	Pair Corr
0.82	BFS	Saul Centers	Pair Corr
0.89	BNL	Broadstone Net Lease	Pair Corr
0.94	BRX	Brixmor Property Sell-off Trend	Pair Corr
0.85	BXP	Boston Properties	Pair Corr
0.93	CCI	Crown Castle Earnings Call This Week	Pair Corr
0.85	CDP	COPT Defense Properties	Pair Corr
0.7	CIO	City Office	Pair Corr

Moving against Elme Stock

0.63	AHT	Ashford Hospitality Trust	Pair Corr
0.59	WHLR	Wheeler Real Estate Trending	Pair Corr
0.57	FPI	Farmland Partners	Pair Corr

Related Correlations Analysis

	NXRT	CSR	ELS	IRT	BRT
NXRT		0.83	0.82	0.82	0.53	NXRT
CSR	0.83		0.74	0.76	0.29	CSR
ELS	0.82	0.74		0.83	0.27	ELS
IRT	0.82	0.76	0.83		0.31	IRT
BRT	0.53	0.29	0.27	0.31		BRT
	NXRT	CSR	ELS	IRT	BRT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Elme Stock performing well and Elme 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 Elme 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
NXRT	1.14	0.08	0.05	0.19	1.22	(1.31)	2.71	(2.22)	7.17
CSR	0.95	(0.02)	(0.04)	0.07	1.04	(1.10)	2.21	(1.59)	6.09
ELS	1.01	0.03	(0.02)	0.19	1.32	(0.98)	2.31	(2.05)	5.56
IRT	1.01	(0.01)	(0.04)	0.08	1.13	(1.13)	2.07	(2.10)	6.27
BRT	1.43	(0.08)	(0.02)	0.04	1.75	(1.46)	2.95	(2.62)	9.18

Elme Communities Corporate Management

Efrem Reid	Vice Resources	Profile
Wade Hammond	Chief VP	Profile
Amy Hopkins	Vice Relations	Profile
Anthony Chang	VP Management	Profile
Grant Montgomery	Vice Research	Profile
Daniel Chappell	Vice Investments	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC