Empire State Correlations

ESRT Stock  USD 10.93  0.07  0.64%   
The current 90-days correlation between Empire State Realty and Paramount Group is 0.75 (i.e., Poor diversification). The correlation of Empire State 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.

Empire State Correlation With Market

Very weak diversification

The correlation between Empire State Realty and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Empire State Realty 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 Empire State Realty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Empire Stock

  0.72UE Urban Edge PropertiesPairCorr
  0.74BXP Boston PropertiesPairCorr
  0.71DRH Diamondrock HospitalityPairCorr
  0.7EGP EastGroup PropertiesPairCorr
  0.68FSP Franklin Street PropPairCorr
  0.69GTY Getty RealtyPairCorr
  0.61KRG Kite Realty GroupPairCorr
  0.68LXP LXP Industrial TrustPairCorr
  0.74RHP Ryman HospitalityPairCorr
  0.78SLG SL Green Realty Earnings Call This WeekPairCorr
  0.72XHR Xenia Hotels ResortsPairCorr
  0.62GLPI Gaming Leisure PropertiesPairCorr
  0.81GMRE Global Medical REITPairCorr
  0.79HASI Hannon Armstrong SusPairCorr
  0.62PECO Phillips EdisonPairCorr
  0.69SBRA Sabra Healthcare REITPairCorr

Moving against Empire Stock

  0.38VINO Gaucho Group HoldingsPairCorr

Related Correlations Analysis

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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   
UEDEI
HPPPGRE
UEEQC
DEIEQC
DEIPGRE
UEPGRE
  
High negative correlations   
EQCPGRE
DEIHPP
UEHPP
EQCHPP

Risk-Adjusted Indicators

There is a big difference between Empire Stock performing well and Empire State 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 Empire State'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.