Healthcare Realty Correlations

HR Stock  USD 17.28  0.21  1.23%   
The current 90-days correlation between Healthcare Realty Trust and Healthpeak Properties is 0.75 (i.e., Poor diversification). The correlation of Healthcare Realty 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.

Healthcare Realty Correlation With Market

Weak diversification

The correlation between Healthcare Realty Trust and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Healthcare Realty Trust 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 Healthcare Realty Trust. 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 Healthcare Stock

  0.63UE Urban Edge PropertiesPairCorr
  0.71WELL WelltowerPairCorr
  0.65BRX Brixmor PropertyPairCorr
  0.72DOC Healthpeak Properties Symbol ChangePairCorr
  0.69GTY Getty RealtyPairCorr
  0.81IRT Independence Realty TrustPairCorr
  0.71KRG Kite Realty GroupPairCorr
  0.74NHI National Health InvestorsPairCorr
  0.62SLG SL Green Realty Earnings Call This WeekPairCorr
  0.69VTR Ventas IncPairCorr
  0.73GLPI Gaming Leisure PropertiesPairCorr
  0.72JBGS JBG SMITH PropertiesPairCorr
  0.8PECO Phillips EdisonPairCorr
  0.7SBRA Sabra Healthcare REITPairCorr
  0.67CTRE CareTrust REITPairCorr

Moving against Healthcare Stock

  0.52VINO Gaucho Group HoldingsPairCorr
  0.47RC Ready Capital CorpPairCorr
  0.46CHCT Community HealthcarePairCorr
  0.45UK Ucommune InternationalPairCorr

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   
WELLCTRE
NHICTRE
NHIWELL
NHISBRA
CTRESBRA
NHIUHT
  
High negative correlations   
WELLCHCT
CTRECHCT
CHCTDOC
NHICHCT
CHCTSBRA
UHTCHCT

Risk-Adjusted Indicators

There is a big difference between Healthcare Stock performing well and Healthcare Realty 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 Healthcare Realty'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.