Equinix Correlations

EQIX Stock

USD 860.75 9.10 1.07%

The current 90-days correlation between Equinix and Crown Castle is 0.06 (i.e., Significant diversification). The correlation of Equinix 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.

Equinix Correlation With Market

Poor diversification

The correlation between Equinix and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equinix and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Equinix Stock

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

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

Moving together with Equinix Stock

0.88	Z	Zillow Group Class Earnings Call Shortly	Pair Corr
0.75	FR	First Industrial Realty	Pair Corr
0.92	PK	Park Hotels Resorts	Pair Corr
0.92	UE	Urban Edge Properties Earnings Call Shortly	Pair Corr
0.74	WY	Weyerhaeuser	Pair Corr
0.9	ESBA	Empire State Realty Earnings Call Shortly	Pair Corr
0.89	ESRT	Empire State Realty	Pair Corr
0.77	WHLR	Wheeler Real Estate Earnings Call Shortly	Pair Corr
0.8	FISK	Empire State Realty Earnings Call Shortly	Pair Corr
0.85	AAT	American Assets Trust	Pair Corr
0.9	AHH	Armada Hflr Pr Earnings Call Shortly	Pair Corr
0.77	AHT	Ashford Hospitality Trust	Pair Corr
0.8	AIV	Apartment Investment and Earnings Call Shortly	Pair Corr
0.93	AKR	Acadia Realty Trust	Pair Corr
0.66	ARE	Alexandria Real Estate	Pair Corr
0.86	AVB	AvalonBay Communities	Pair Corr
0.87	BDN	Brandywine Realty Trust	Pair Corr
0.75	BFS	Saul Centers	Pair Corr
0.65	BRT	BRT Realty Trust Earnings Call Shortly	Pair Corr
0.76	BRX	Brixmor Property	Pair Corr
0.85	BXP	Boston Properties Potential Growth	Pair Corr
0.65	CDP	COPT Defense Properties	Pair Corr

Moving against Equinix Stock

0.44	VICI	VICI Properties Earnings Call Shortly	Pair Corr
0.31	O	Realty Income Earnings Call Shortly	Pair Corr
0.78	AMT	American Tower Corp	Pair Corr
0.61	ADC	Agree Realty	Pair Corr
0.35	AHR	American Healthcare REIT,	Pair Corr
0.74	CCI	Crown Castle	Pair Corr

Related Correlations Analysis

	CCI	AMT	IRM	HASI	DLR	SBAC	EPR	GLPI
CCI		0.92	-0.67	-0.13	-0.64	0.82	0.46	0.59	CCI
AMT	0.92		-0.8	-0.28	-0.73	0.93	0.5	0.47	AMT
IRM	-0.67	-0.8		0.31	0.85	-0.67	-0.35	-0.3	IRM
HASI	-0.13	-0.28	0.31		0.21	-0.27	0.46	0.51	HASI
DLR	-0.64	-0.73	0.85	0.21		-0.48	-0.24	-0.34	DLR
SBAC	0.82	0.93	-0.67	-0.27	-0.48		0.55	0.39	SBAC
EPR	0.46	0.5	-0.35	0.46	-0.24	0.55		0.7	EPR
GLPI	0.59	0.47	-0.3	0.51	-0.34	0.39	0.7		GLPI
	CCI	AMT	IRM	HASI	DLR	SBAC	EPR	GLPI

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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

SBAC	+ 0.93	AMT
AMT	+ 0.92	CCI
DLR	+ 0.85	IRM
SBAC	+ 0.82	CCI
GLPI	+ 0.7	EPR
GLPI	+ 0.59	CCI

High negative correlations

IRM	- 0.8	AMT
DLR	- 0.73	AMT
SBAC	- 0.67	IRM
IRM	- 0.67	CCI
DLR	- 0.64	CCI
SBAC	- 0.48	DLR

Risk-Adjusted Indicators

There is a big difference between Equinix Stock performing well and Equinix 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 Equinix'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
CCI	1.50	0.29	0.18	0.78	1.91	(1.48)	2.75	(2.90)	16.04
AMT	1.38	0.29	0.21	1.23	1.52	(1.43)	3.19	(3.08)	10.21
IRM	1.92	(0.02)	0.00	(0.16)	0.00	0.00	2.81	(5.68)	13.21
HASI	1.67	(0.03)	0.00	(0.19)	0.00	0.00	3.54	(4.92)	11.62
DLR	1.68	0.11	0.00	(0.01)	0.00	0.00	3.17	(3.78)	10.02
SBAC	1.34	0.29	0.21	0.95	1.51	(1.37)	3.01	(2.73)	10.00
EPR	1.35	0.19	0.11	0.09	1.74	(1.48)	2.38	(2.90)	10.06
GLPI	1.02	0.01	0.12	(0.31)	1.36	(0.99)	1.83	(2.25)	6.75

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