INVITATION HOMES Correlations
| 4IV Stock | EUR 27.60 0.20 0.72% |
The current 90-days correlation between INVITATION HOMES and Equity Residential is 0.77 (i.e., Poor diversification). The correlation of INVITATION HOMES 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.
INVITATION HOMES Correlation With Market
Good diversification
The correlation between INVITATION HOMES DL and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INVITATION HOMES DL and DJI in the same portfolio, assuming nothing else is changed.
INVITATION |
The ability to find closely correlated positions to INVITATION HOMES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace INVITATION HOMES when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back INVITATION HOMES - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling INVITATION HOMES DL to buy it.
Moving together with INVITATION Stock
| 0.94 | EQR | Equity Residential | PairCorr |
| 0.84 | WV8 | AvalonBay Communities | PairCorr |
| 0.85 | UF0 | UDR Inc | PairCorr |
| 0.86 | M2K | Mid America Apartment | PairCorr |
| 0.85 | MHV | Equity LifeStyle Pro Earnings Call This Week | PairCorr |
| 0.93 | A4XA | American Homes 4 | PairCorr |
| 0.85 | CAL | Camden Property Trust | PairCorr |
Moving against INVITATION Stock
| 0.71 | FA2 | FORWARD AIR P | PairCorr |
| 0.64 | RNF | Meteoric Resources Earnings Call This Week | PairCorr |
| 0.52 | BBZA | BB Biotech AG Earnings Call This Week | PairCorr |
| 0.5 | BBZA | BB Biotech AG Earnings Call This Week | PairCorr |
| 0.83 | JOT | ELEKTROBIT | PairCorr |
| 0.62 | F1YN | Lundin Gold | PairCorr |
| 0.6 | KOM1 | Komatsu | PairCorr |
| 0.57 | HEI | Heidelberg Materials | PairCorr |
| 0.53 | KGHA | KGHM Polska Miedz | PairCorr |
| 0.44 | AG8 | AGILENT TECH | PairCorr |
| 0.42 | 1W3 | WSP Global | PairCorr |
| 0.38 | WOF | Wolford Aktiengesellscha | PairCorr |
| 0.38 | E908 | Lyxor 1 | PairCorr |
Related Correlations Analysis
| 0.94 | 0.82 | 0.83 | 0.92 | 0.92 | EQR | ||
| 0.94 | 0.86 | 0.85 | 0.93 | 0.85 | 4IV | ||
| 0.82 | 0.86 | 0.83 | 0.85 | 0.68 | M2K | ||
| 0.83 | 0.85 | 0.83 | 0.86 | 0.7 | MHV | ||
| 0.92 | 0.93 | 0.85 | 0.86 | 0.89 | A4XA | ||
| 0.92 | 0.85 | 0.68 | 0.7 | 0.89 | CAL | ||
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Risk-Adjusted Indicators
There is a big difference between INVITATION Stock performing well and INVITATION HOMES 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 INVITATION HOMES'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EQR | 0.96 | (0.01) | 0.00 | (5.36) | 0.00 | 1.79 | 6.52 | |||
| 4IV | 0.85 | (0.02) | 0.00 | 0.43 | 0.00 | 2.04 | 6.09 | |||
| M2K | 0.96 | (0.05) | 0.00 | 0.42 | 0.00 | 1.56 | 8.44 | |||
| MHV | 0.92 | (0.11) | 0.00 | (1.37) | 0.00 | 1.81 | 4.53 | |||
| A4XA | 1.03 | (0.01) | (0.10) | 1.19 | 1.09 | 1.94 | 9.07 | |||
| CAL | 0.94 | 0.00 | (0.07) | 0.14 | 1.11 | 1.98 | 9.87 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in INVITATION HOMES without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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