Global Medical Correlations

GMRE Stock

USD 6.99 0.03 0.43%

The current 90-days correlation between Global Medical REIT and National Health Investors is 0.6 (i.e., Poor diversification). The correlation of Global Medical 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.

Global Medical Correlation With Market

Poor diversification

The correlation between Global Medical REIT and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Medical REIT and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Medical REIT. 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 Global Stock

0.79	O	Realty Income	Pair Corr
0.76	FR	First Industrial Realty Earnings Call This Week	Pair Corr
0.83	HR	Healthcare Realty Trust Downward Rally	Pair Corr
0.83	VICI	VICI Properties	Pair Corr
0.83	ELME	Elme Communities	Pair Corr
0.74	WELL	Welltower	Pair Corr
0.82	FCPT	Four Corners Property	Pair Corr
0.71	ADC	Agree Realty	Pair Corr
0.82	ALX	Alexanders	Pair Corr
0.69	AMH	American Homes 4	Pair Corr
0.74	BHR	Braemar Hotel Resorts	Pair Corr
0.88	BNL	Broadstone Net Lease	Pair Corr
0.66	BRT	BRT Realty Trust	Pair Corr

Moving against Global Stock

0.52	WHLR	Wheeler Real Estate	Pair Corr
0.35	PW	Power REIT	Pair Corr
0.34	FISK	Empire State Realty	Pair Corr
0.41	CDP	COPT Defense Properties	Pair Corr
0.37	DLR	Digital Realty Trust	Pair Corr

Related Correlations Analysis

	DOC	VTR	NHI	SBRA	HR	CTRE	OHI	UHT	CHCT
DOC		0.07	0.27	0.2	0.83	0.06	0.2	0.41	0.65	DOC
VTR	0.07		0.82	0.54	0.43	0.34	0.43	0.79	-0.43	VTR
NHI	0.27	0.82		0.85	0.51	0.7	0.75	0.8	-0.43	NHI
SBRA	0.2	0.54	0.85		0.42	0.89	0.89	0.59	-0.35	SBRA
HR	0.83	0.43	0.51	0.42		0.25	0.37	0.7	0.48	HR
CTRE	0.06	0.34	0.7	0.89	0.25		0.79	0.43	-0.34	CTRE
OHI	0.2	0.43	0.75	0.89	0.37	0.79		0.55	-0.25	OHI
UHT	0.41	0.79	0.8	0.59	0.7	0.43	0.55		0.0	UHT
CHCT	0.65	-0.43	-0.43	-0.35	0.48	-0.34	-0.25	0.0		CHCT
	DOC	VTR	NHI	SBRA	HR	CTRE	OHI	UHT	CHCT

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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

CTRE	+ 0.89	SBRA
OHI	+ 0.89	SBRA
SBRA	+ 0.85	NHI
HR	+ 0.83	DOC
NHI	+ 0.82	VTR
UHT	+ 0.8	NHI

High negative correlations

CHCT	- 0.43	NHI
CHCT	- 0.43	VTR
CHCT	- 0.35	SBRA
CHCT	- 0.34	CTRE
CHCT	- 0.25	OHI
CHCT	- 0.0	UHT

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Medical 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 Global Medical'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
DOC	1.20	(0.06)	0.00	(0.17)	0.00	0.00	2.10	(2.69)	7.90
VTR	1.26	0.22	0.16	(1.35)	1.59	(1.26)	2.54	(2.06)	14.23
NHI	1.17	0.18	0.14	0.31	1.43	(1.14)	2.36	(2.78)	6.38
SBRA	1.35	0.11	0.09	0.24	1.84	(1.33)	3.07	(3.04)	8.29
HR	1.15	(0.03)	0.00	(0.14)	0.00	0.00	2.14	(2.59)	8.05
CTRE	1.39	0.15	0.11	0.29	1.75	(1.47)	3.20	(3.12)	8.11
OHI	1.29	0.10	0.09	0.18	1.63	(1.41)	2.54	(2.89)	7.55
UHT	1.24	0.12	0.10	0.15	1.55	(1.32)	2.84	(2.51)	8.13
CHCT	1.36	(0.26)	0.00	(0.58)	0.00	0.00	2.23	(3.76)	10.71

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