Healthcare Realty Correlations

HR Stock

USD 15.40 0.24 1.58%

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

Very weak diversification

The correlation between Healthcare Realty Trust and DJI is 0.58 (i.e., Very 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

0.75	FR	First Industrial Realty Earnings Call This Week	Pair Corr
0.73	WY	Weyerhaeuser	Pair Corr
0.69	EPRT	Essential Properties	Pair Corr
0.77	FCPT	Four Corners Property	Pair Corr
0.65	AIV	Apartment Investment and	Pair Corr
0.64	AMH	American Homes 4	Pair Corr
0.68	ARE	Alexandria Real Estate	Pair Corr
0.61	AVB	AvalonBay Communities	Pair Corr
0.68	BHR	Braemar Hotel Resorts	Pair Corr
0.8	BNL	Broadstone Net Lease	Pair Corr
0.66	BRT	BRT Realty Trust	Pair Corr

Related Correlations Analysis

	DOC	SBRA	CHCT	UHT	GMRE	CTRE	WELL	NHI
DOC		0.2	0.65	0.41	0.65	0.06	0.13	0.27	DOC
SBRA	0.2		-0.35	0.59	0.44	0.89	0.36	0.85	SBRA
CHCT	0.65	-0.35		0.0	0.16	-0.34	-0.16	-0.43	CHCT
UHT	0.41	0.59	0.0		0.83	0.43	0.82	0.8	UHT
GMRE	0.65	0.44	0.16	0.83		0.22	0.74	0.69	GMRE
CTRE	0.06	0.89	-0.34	0.43	0.22		0.21	0.7	CTRE
WELL	0.13	0.36	-0.16	0.82	0.74	0.21		0.65	WELL
NHI	0.27	0.85	-0.43	0.8	0.69	0.7	0.65		NHI
	DOC	SBRA	CHCT	UHT	GMRE	CTRE	WELL	NHI

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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
NHI	+ 0.85	SBRA
GMRE	+ 0.83	UHT
WELL	+ 0.82	UHT
NHI	+ 0.8	UHT
WELL	+ 0.74	GMRE

High negative correlations

NHI	- 0.43	CHCT
CHCT	- 0.35	SBRA
CTRE	- 0.34	CHCT
WELL	- 0.16	CHCT
UHT	- 0.0	CHCT

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.

	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
SBRA	1.35	0.11	0.09	0.24	1.84	(1.33)	3.07	(3.04)	8.29
CHCT	1.36	(0.26)	0.00	(0.58)	0.00	0.00	2.23	(3.76)	10.71
UHT	1.24	0.12	0.10	0.15	1.55	(1.32)	2.84	(2.51)	8.13
GMRE	1.45	(0.02)	0.00	(0.11)	0.00	0.00	3.14	(3.62)	14.41
CTRE	1.39	0.15	0.11	0.29	1.75	(1.47)	3.20	(3.12)	8.11
WELL	1.31	0.27	0.17	0.39	1.55	(1.35)	3.36	(1.89)	9.41
NHI	1.17	0.18	0.14	0.31	1.43	(1.14)	2.36	(2.78)	6.38

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