Summit Hotel Correlations

INN Stock

USD 4.07 0.01 0.25%

The current 90-days correlation between Summit Hotel Properties and Diamondrock Hospitality is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Summit Hotel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Summit Hotel Properties moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Summit Hotel Correlation With Market

Good diversification

The correlation between Summit Hotel Properties and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Hotel Properties and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Summit Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Summit Hotel 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 board of governors.

Moving together with Summit Stock

0.9	Z	Zillow Group Class Earnings Call This Week	Pair Corr
0.91	FR	First Industrial Realty	Pair Corr
0.68	HR	Healthcare Realty Trust Earnings Call This Week	Pair Corr
0.95	PK	Park Hotels Resorts	Pair Corr
0.9	UE	Urban Edge Properties Earnings Call This Week	Pair Corr
0.95	WY	Weyerhaeuser	Pair Corr
0.87	EQIX	Equinix Earnings Call This Week	Pair Corr
0.94	ESBA	Empire State Realty Earnings Call This Week	Pair Corr
0.93	ESRT	Empire State Realty	Pair Corr
0.75	WHLR	Wheeler Real Estate Earnings Call This Week	Pair Corr
0.87	FISK	Empire State Realty Earnings Call This Week	Pair Corr
0.91	AAT	American Assets Trust	Pair Corr
0.94	AHH	Armada Hflr Pr Earnings Call This Week	Pair Corr
0.89	AHT	Ashford Hospitality Trust	Pair Corr
0.95	AIV	Apartment Investment and Earnings Call This Week	Pair Corr
0.95	AKR	Acadia Realty Trust	Pair Corr
0.91	ARE	Alexandria Real Estate	Pair Corr
0.82	AVB	AvalonBay Communities	Pair Corr
0.92	BDN	Brandywine Realty Trust	Pair Corr
0.94	BFS	Saul Centers	Pair Corr
0.76	BHR	Braemar Hotel Resorts Earnings Call This Week	Pair Corr
0.84	BRT	BRT Realty Trust Earnings Call This Week	Pair Corr
0.71	BRX	Brixmor Property	Pair Corr
0.82	BXP	Boston Properties	Pair Corr
0.66	CDP	COPT Defense Properties	Pair Corr

Moving against Summit Stock

0.42	VICI	VICI Properties Earnings Call Today	Pair Corr
0.32	O	Realty Income Earnings Call This Week	Pair Corr
0.74	AMT	American Tower Corp	Pair Corr
0.68	CCI	Crown Castle	Pair Corr
0.59	ADC	Agree Realty	Pair Corr
0.51	AHR	American Healthcare REIT,	Pair Corr
0.32	AMH	American Homes 4	Pair Corr

Related Correlations Analysis

	DRH	RLJ-PA	PEB	SHO	RLJ	RHP	CLDT	HT
DRH		0.71	0.95	0.98	0.97	0.94	0.82	0.0	DRH
RLJ-PA	0.71		0.7	0.68	0.73	0.71	0.68	0.0	RLJ-PA
PEB	0.95	0.7		0.96	0.96	0.97	0.78	0.0	PEB
SHO	0.98	0.68	0.96		0.98	0.95	0.83	0.0	SHO
RLJ	0.97	0.73	0.96	0.98		0.94	0.85	0.0	RLJ
RHP	0.94	0.71	0.97	0.95	0.94		0.78	0.0	RHP
CLDT	0.82	0.68	0.78	0.83	0.85	0.78		0.0	CLDT
HT	0.0	0.0	0.0	0.0	0.0	0.0	0.0		HT
	DRH	RLJ-PA	PEB	SHO	RLJ	RHP	CLDT	HT

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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

SHO	+ 0.98	DRH
RLJ	+ 0.98	SHO
RLJ	+ 0.97	DRH
RHP	+ 0.97	PEB
SHO	+ 0.96	PEB
RLJ	+ 0.96	PEB

High negative correlations

HT	- 0.0	CLDT
HT	- 0.0	RHP
HT	- 0.0	RLJ
HT	- 0.0	SHO
HT	- 0.0	PEB
HT	- 0.0	RLJ-PA

Risk-Adjusted Indicators

There is a big difference between Summit Stock performing well and Summit Hotel 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 Summit Hotel'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DRH	1.76	(0.07)	(0.20)	2.48	(4.76)	18.97
RLJ-PA	0.45	0.00	0.00	0.81	(1.18)	4.29
PEB	2.41	(0.63)	1.98	3.77	(5.85)	31.04
SHO	1.60	(0.26)	(0.35)	2.33	(4.17)	17.11
RLJ	1.91	(0.24)	(0.31)	2.88	(4.58)	25.19
RHP	1.55	(0.28)	1.28	2.38	(4.01)	14.99
CLDT	1.58	(0.18)	(0.30)	1.98	(3.90)	15.81
HT	0.00	0.00	0.00	0.00	0.00	0.00

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