Apartment Investment Correlations

AIV Stock

USD 8.65 0.09 1.03%

The current 90-days correlation between Apartment Investment and and Clipper Realty is 0.4 (i.e., Very weak diversification). The correlation of Apartment Investment 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.

Apartment Investment Correlation With Market

Poor diversification

The correlation between Apartment Investment and and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apartment Investment and and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Apartment Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Apartment Investment and. 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.

Moving together with Apartment Stock

0.81	Z	Zillow Group Class	Pair Corr
0.75	BDN	Brandywine Realty Trust Earnings Call Today	Pair Corr
0.74	BXP	Boston Properties Sell-off Trend	Pair Corr
0.87	CIO	City Office	Pair Corr
0.84	CUZ	Cousins Properties	Pair Corr
0.89	DEI	Douglas Emmett	Pair Corr
0.61	EGP	EastGroup Properties Earnings Call Today	Pair Corr
0.87	HIW	Highwoods Properties Earnings Call Today	Pair Corr
0.8	HPP	Hudson Pacific Properties	Pair Corr
0.93	INN	Summit Hotel Properties	Pair Corr
0.88	KRC	Kilroy Realty Corp Earnings Call This Week	Pair Corr
0.74	LXP	LXP Industrial Trust	Pair Corr
0.78	PDM	Piedmont Office Realty Earnings Call This Week	Pair Corr
0.86	SLG	SL Green Realty	Pair Corr
0.68	SMA	SmartStop Self Storage	Pair Corr
0.75	JBGS	JBG SMITH Properties Earnings Call This Week	Pair Corr
0.66	CMCT	Creative Media Community	Pair Corr
0.8	DX	Dynex Capital Earnings Call Today	Pair Corr
0.76	KW	Kennedy Wilson Holdings	Pair Corr
0.65	OZ	Belpointe PREP LLC	Pair Corr
0.68	PK	Park Hotels Resorts	Pair Corr
0.84	UE	Urban Edge Properties	Pair Corr
0.88	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.85	AHT-PI	Ashford Hospitality Trust	Pair Corr

Moving against Apartment Stock

0.79	MPW	Medical Properties Trust	Pair Corr
0.7	NHI	National Health Investors	Pair Corr
0.68	CRESY	Cresud SACIF y	Pair Corr
0.42	INVH	Invitation Homes Earnings Call Tomorrow	Pair Corr
0.33	OPI	Office Properties Income	Pair Corr
0.6	UK	Ucommune International	Pair Corr

Related Correlations Analysis

	CLPR	UDR	NXRT	BRT	AVB	EQR	BXP	CPT
CLPR		0.14	-0.19	0.07	0.13	0.36	0.37	0.68	CLPR
UDR	0.14		0.79	-0.14	0.82	0.83	-0.22	0.68	UDR
NXRT	-0.19	0.79		-0.49	0.51	0.59	-0.63	0.25	NXRT
BRT	0.07	-0.14	-0.49		0.18	-0.13	0.67	0.13	BRT
AVB	0.13	0.82	0.51	0.18		0.79	0.09	0.65	AVB
EQR	0.36	0.83	0.59	-0.13	0.79		-0.15	0.8	EQR
BXP	0.37	-0.22	-0.63	0.67	0.09	-0.15		0.25	BXP
CPT	0.68	0.68	0.25	0.13	0.65	0.8	0.25		CPT
	CLPR	UDR	NXRT	BRT	AVB	EQR	BXP	CPT

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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

EQR	+ 0.83	UDR
AVB	+ 0.82	UDR
CPT	+ 0.8	EQR
NXRT	+ 0.79	UDR
EQR	+ 0.79	AVB
CPT	+ 0.68	CLPR

High negative correlations

BXP	- 0.63	NXRT
BRT	- 0.49	NXRT
BXP	- 0.22	UDR
NXRT	- 0.19	CLPR
BXP	- 0.15	EQR
BRT	- 0.14	UDR

Risk-Adjusted Indicators

There is a big difference between Apartment Stock performing well and Apartment Investment 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 Apartment Investment'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
CLPR	2.22	0.11	0.04	0.24	2.90	(2.41)	5.68	(4.29)	18.38
UDR	0.90	(0.07)	(0.10)	0.02	1.13	(0.95)	1.76	(1.78)	6.07
NXRT	1.08	(0.15)	0.00	(0.06)	0.00	0.00	2.37	(2.45)	6.88
BRT	1.12	(0.11)	(0.08)	0.01	1.47	(1.21)	2.84	(2.53)	8.92
AVB	0.82	(0.06)	(0.09)	0.04	1.10	(0.80)	1.86	(1.65)	5.59
EQR	0.85	(0.06)	(0.10)	0.03	1.16	(0.83)	1.78	(1.84)	5.67
BXP	1.25	0.03	0.02	0.16	1.60	(1.25)	3.22	(2.18)	9.39
CPT	0.82	(0.04)	(0.08)	0.07	0.98	(0.91)	1.89	(1.56)	8.03

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