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.
Empire |
Moving together with Empire Stock
0.72 | UE | Urban Edge Properties | PairCorr |
0.74 | BXP | Boston Properties | PairCorr |
0.71 | DRH | Diamondrock Hospitality | PairCorr |
0.7 | EGP | EastGroup Properties | PairCorr |
0.68 | FSP | Franklin Street Prop | PairCorr |
0.69 | GTY | Getty Realty | PairCorr |
0.61 | KRG | Kite Realty Group | PairCorr |
0.68 | LXP | LXP Industrial Trust | PairCorr |
0.74 | RHP | Ryman Hospitality | PairCorr |
0.78 | SLG | SL Green Realty Earnings Call This Week | PairCorr |
0.72 | XHR | Xenia Hotels Resorts | PairCorr |
0.62 | GLPI | Gaming Leisure Properties | PairCorr |
0.81 | GMRE | Global Medical REIT | PairCorr |
0.79 | HASI | Hannon Armstrong Sus | PairCorr |
0.62 | PECO | Phillips Edison | PairCorr |
0.69 | SBRA | Sabra Healthcare REIT | PairCorr |
Moving against Empire Stock
Related Correlations Analysis
0.61 | -0.35 | 0.14 | 0.12 | PGRE | ||
0.61 | -0.13 | -0.3 | -0.26 | HPP | ||
-0.35 | -0.13 | 0.23 | 0.43 | EQC | ||
0.14 | -0.3 | 0.23 | 0.92 | DEI | ||
0.12 | -0.26 | 0.43 | 0.92 | UE | ||
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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
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
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PGRE | 1.58 | (0.12) | (0.02) | 0.03 | 1.99 | 3.96 | 9.82 | |||
HPP | 2.99 | (0.26) | 0.00 | (0.08) | 0.00 | 6.61 | 24.03 | |||
EQC | 0.40 | 0.01 | (0.07) | 0.14 | 0.63 | 1.04 | 5.29 | |||
DEI | 1.51 | 0.29 | 0.20 | 0.28 | 1.43 | 3.68 | 8.71 | |||
UE | 0.92 | 0.17 | 0.15 | 0.29 | 0.77 | 2.00 | 7.97 |