Hannon Armstrong Correlations

HASI Stock

USD 33.42 0.16 0.48%

The current 90-days correlation between Hannon Armstrong Sus and Science Applications International is 0.11 (i.e., Average diversification). The correlation of Hannon Armstrong 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.

Hannon Armstrong Correlation With Market

Weak diversification

The correlation between Hannon Armstrong Sustainable and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hannon Armstrong Sustainable and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hannon Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hannon Armstrong Sustainable. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Hannon Stock

0.61	PRSR	PRS Reit PLC	Pair Corr
0.83	WELL	Welltower	Pair Corr
0.73	AHR	American Healthcare REIT,	Pair Corr
0.69	DHC	Diversified Healthcare	Pair Corr
0.61	EGP	EastGroup Properties	Pair Corr
0.7	FVR	FrontView REIT,	Pair Corr
0.62	MPW	Medical Properties Trust	Pair Corr

Moving against Hannon Stock

0.69	ARE	Alexandria Real Estate	Pair Corr
0.68	ESRT	Empire State Realty	Pair Corr
0.68	FISK	Empire State Realty	Pair Corr
0.68	DEI	Douglas Emmett	Pair Corr
0.66	AHH	Armada Hflr Pr	Pair Corr
0.63	BEI-UN	Boardwalk Real Estate	Pair Corr
0.62	ESBA	Empire State Realty	Pair Corr
0.62	BDN	Brandywine Realty Trust	Pair Corr
0.61	CAR-UN	Canadian Apartment	Pair Corr
0.6	CIO	City Office	Pair Corr
0.59	CUZ	Cousins Properties	Pair Corr
0.57	GDI	GDI Property Group	Pair Corr
0.54	AAT	American Assets Trust	Pair Corr
0.45	IIP-UN	InterRent Real Estate	Pair Corr
0.43	BXP	Boston Properties	Pair Corr
0.41	BNL	Broadstone Net Lease	Pair Corr
0.37	DEA	Eerly Govt Ppty	Pair Corr
0.8	HPP	Hudson Pacific Properties	Pair Corr
0.77	SVC	Service Properties Trust	Pair Corr
0.73	FSP	Franklin Street Prop	Pair Corr
0.68	SLG	SL Green Realty	Pair Corr
0.68	VNO	Vornado Realty Trust	Pair Corr
0.67	HOT-U	American Hotel Income	Pair Corr
0.62	KCR	KCR Residential Reit	Pair Corr
0.47	APR-UN	Automotive Properties	Pair Corr
0.45	OLP	One Liberty Properties	Pair Corr

Related Correlations Analysis

	NADA	SAIC	DCMDF	STC	CIO-P-A	PDM	EJH
NADA		0.0	0.0	0.0	0.0	0.0	0.0	NADA
SAIC	0.0		0.04	-0.05	0.62	0.53	0.71	SAIC
DCMDF	0.0	0.04		0.7	-0.24	0.45	-0.19	DCMDF
STC	0.0	-0.05	0.7		-0.28	0.45	-0.2	STC
CIO-P-A	0.0	0.62	-0.24	-0.28		0.52	0.65	CIO-P-A
PDM	0.0	0.53	0.45	0.45	0.52		0.47	PDM
EJH	0.0	0.71	-0.19	-0.2	0.65	0.47		EJH
	NADA	SAIC	DCMDF	STC	CIO-P-A	PDM	EJH

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

EJH	+ 0.71	SAIC
STC	+ 0.7	DCMDF
EJH	+ 0.65	CIO-P-A
CIO-P-A	+ 0.62	SAIC
PDM	+ 0.53	SAIC
PDM	+ 0.52	CIO-P-A

High negative correlations

CIO-P-A	- 0.28	STC
CIO-P-A	- 0.24	DCMDF
EJH	- 0.2	STC
EJH	- 0.19	DCMDF
STC	- 0.05	SAIC
EJH	- 0.0	NADA

Risk-Adjusted Indicators

There is a big difference between Hannon Stock performing well and Hannon Armstrong 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 Hannon Armstrong'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
NADA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SAIC	1.43	(0.09)	0.00	(0.10)	0.00	0.00	2.42	(2.78)	9.67
DCMDF	1.85	0.38	0.10	(2.49)	1.77	(3.59)	5.94	(3.67)	13.81
STC	1.35	0.02	0.00	0.09	1.56	(1.55)	2.92	(2.71)	9.26
CIO-P-A	0.22	(0.02)	0.00	(0.43)	0.00	0.00	0.45	(0.56)	1.82
PDM	1.22	(0.05)	0.00	(0.09)	0.00	0.00	2.49	(2.89)	9.02
EJH	2.73	(0.22)	0.00	0.25	0.00	0.00	6.25	(6.82)	27.92

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