Highwoods Properties Correlations

HIW Stock

USD 32.33 0.18 0.55%

The correlation of Highwoods Properties 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.

Highwoods Properties Correlation With Market

Poor diversification

The correlation between Highwoods Properties and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highwoods Properties 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 Highwoods Properties. 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 Highwoods Stock please use our How to Invest in Highwoods Properties guide.

Moving together with Highwoods Stock

0.75	HR	Healthcare Realty Trust	Pair Corr
0.93	UE	Urban Edge Properties	Pair Corr
0.86	EQIX	Equinix	Pair Corr
0.94	WELL	Welltower	Pair Corr
0.97	AKR	Acadia Realty Trust	Pair Corr
0.97	BRX	Brixmor Property Sell-off Trend	Pair Corr
0.92	BXP	Boston Properties	Pair Corr
0.95	DOC	Healthpeak Properties Symbol Change	Pair Corr
0.84	GTY	Getty Realty	Pair Corr
0.91	INN	Summit Hotel Properties	Pair Corr
0.86	IRT	Independence Realty Trust Sell-off Trend	Pair Corr
0.92	IVT	Inventrust Properties	Pair Corr
0.96	KRG	Kite Realty Group	Pair Corr
0.92	NHI	National Health Investors	Pair Corr
0.89	SLG	SL Green Realty Earnings Call This Week	Pair Corr
0.91	SPG	Simon Property Group Sell-off Trend	Pair Corr
0.92	VTR	Ventas Inc	Pair Corr
0.92	GLPI	Gaming Leisure Properties	Pair Corr
0.74	HASI	Hannon Armstrong Sus	Pair Corr
0.89	JBGS	JBG SMITH Properties	Pair Corr
0.89	PECO	Phillips Edison	Pair Corr
0.89	ROIC	Retail Opportunity	Pair Corr
0.86	SBRA	Sabra Healthcare REIT	Pair Corr
0.93	CTRE	CareTrust REIT	Pair Corr

Moving against Highwoods Stock

0.39	HPP	Hudson Pacific Properties	Pair Corr
0.85	UK	Ucommune International	Pair Corr
0.83	VINO	Gaucho Group Holdings	Pair Corr
0.78	CHCT	Community Healthcare	Pair Corr
0.74	RC	Ready Capital Corp	Pair Corr

Related Correlations Analysis

	OFC	PDM	DEI	KRC	HPP	CUZ	EQC	BDN
OFC		0.69	0.86	0.77	-0.31	0.64	-0.04	0.78	OFC
PDM	0.69		0.88	0.75	-0.41	0.93	0.49	0.9	PDM
DEI	0.86	0.88		0.9	-0.3	0.85	0.23	0.92	DEI
KRC	0.77	0.75	0.9		-0.04	0.66	0.0	0.76	KRC
HPP	-0.31	-0.41	-0.3	-0.04		-0.41	-0.13	-0.33	HPP
CUZ	0.64	0.93	0.85	0.66	-0.41		0.61	0.87	CUZ
EQC	-0.04	0.49	0.23	0.0	-0.13	0.61		0.4	EQC
BDN	0.78	0.9	0.92	0.76	-0.33	0.87	0.4		BDN
	OFC	PDM	DEI	KRC	HPP	CUZ	EQC	BDN

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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

CUZ	+ 0.93	PDM
BDN	+ 0.92	DEI
BDN	+ 0.9	PDM
KRC	+ 0.9	DEI
DEI	+ 0.88	PDM
BDN	+ 0.87	CUZ

High negative correlations

CUZ	- 0.41	HPP
HPP	- 0.41	PDM
BDN	- 0.33	HPP
HPP	- 0.31	OFC
HPP	- 0.3	DEI
EQC	- 0.13	HPP

Risk-Adjusted Indicators

There is a big difference between Highwoods Stock performing well and Highwoods Properties 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 Highwoods Properties' 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
OFC	1.39	0.19	0.06	(3.72)	1.30	(1.67)	3.10	(2.44)	6.24
PDM	1.50	0.31	0.22	0.31	1.19	(1.80)	4.36	(2.56)	11.43
DEI	1.51	0.29	0.20	0.28	1.43	(1.74)	3.68	(2.65)	8.71
KRC	1.57	0.14	0.09	0.19	1.69	(1.67)	3.98	(2.85)	10.53
HPP	2.99	(0.26)	0.00	(0.08)	0.00	0.00	6.61	(5.04)	24.03
CUZ	1.07	0.39	0.24	6.32	0.78	(1.25)	2.41	(1.82)	10.46
EQC	0.40	0.01	(0.07)	0.14	0.63	(0.42)	1.04	(0.69)	5.29
BDN	1.57	0.27	0.18	0.29	1.36	(2.08)	3.88	(2.47)	10.35

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