City Office Correlations

CIO-PA Preferred Stock

USD 19.22 0.07 0.36%

The current 90-days correlation between City Office REIT and Global Medical REIT is 0.13 (i.e., Average diversification). The correlation of City Office 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.

City Office Correlation With Market

Very weak diversification

The correlation between City Office REIT 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 City Office REIT and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to City Office could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace City Office 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 City Office - 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 City Office REIT to buy it.

Moving together with City Preferred Stock

0.76	VNO-PL	Vornado Realty Trust	Pair Corr
0.81	VNO-PM	Vornado Realty Trust	Pair Corr
0.81	VNO-PN	Vornado Realty Trust	Pair Corr
0.8	VNO-PO	Vornado Realty Trust	Pair Corr
0.67	SLG-PI	SL Green Realty Earnings Call This Week	Pair Corr
0.86	DX	Dynex Capital	Pair Corr
0.73	FR	First Industrial Realty Earnings Call This Week	Pair Corr
0.61	OZ	Belpointe PREP LLC	Pair Corr
0.82	PK	Park Hotels Resorts	Pair Corr
0.75	UE	Urban Edge Properties	Pair Corr
0.79	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.72	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.75	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.73	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.75	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.64	VICI	VICI Properties	Pair Corr
0.66	MITT-PA	AG Mortgage Investment	Pair Corr
0.77	MITT-PB	AG Mortgage Investment	Pair Corr
0.8	MITT-PC	AG Mortgage Investment	Pair Corr
0.62	VTMX	Corporacin Inmobiliaria	Pair Corr
0.73	ELME	Elme Communities	Pair Corr
0.62	WELL	Welltower	Pair Corr
0.77	CDR-PC	Cedar Realty Trust	Pair Corr

Moving against City Preferred Stock

0.32	UK	Ucommune International	Pair Corr
0.73	WETH	Wetouch Technology Common	Pair Corr
0.58	WHLR	Wheeler Real Estate	Pair Corr
0.41	CDR-PB	Cedar Realty Trust	Pair Corr

Related Correlations Analysis

	HPP-PC	VNO-PO	VNO-PM	VNO-PL	SLG-PI	GNL-PA	GMRE-PA
HPP-PC		0.65	0.52	0.48	0.48	0.33	0.45	HPP-PC
VNO-PO	0.65		0.92	0.89	0.48	0.8	0.78	VNO-PO
VNO-PM	0.52	0.92		0.99	0.37	0.92	0.85	VNO-PM
VNO-PL	0.48	0.89	0.99		0.28	0.91	0.87	VNO-PL
SLG-PI	0.48	0.48	0.37	0.28		0.42	0.23	SLG-PI
GNL-PA	0.33	0.8	0.92	0.91	0.42		0.84	GNL-PA
GMRE-PA	0.45	0.78	0.85	0.87	0.23	0.84		GMRE-PA
	HPP-PC	VNO-PO	VNO-PM	VNO-PL	SLG-PI	GNL-PA	GMRE-PA

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Risk-Adjusted Indicators

There is a big difference between City Preferred Stock performing well and City Office 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 City Office'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
HPP-PC	1.40	0.27	0.10	0.74	1.13	(1.83)	4.07	(2.53)	19.87
VNO-PO	0.94	0.09	(0.02)	0.43	0.87	(1.10)	1.82	(1.45)	6.87
VNO-PM	0.78	0.11	(0.02)	0.47	0.72	(0.88)	2.00	(1.35)	6.39
VNO-PL	0.90	0.10	(0.03)	0.46	1.01	(1.03)	1.93	(1.24)	6.59
SLG-PI	0.72	0.02	(0.13)	0.32	0.87	(0.80)	1.87	(1.30)	7.19
GNL-PA	0.82	0.07	(0.05)	0.38	0.93	(0.89)	2.05	(1.68)	6.68
GMRE-PA	0.50	0.08	(0.19)	1.03	0.49	(0.54)	1.26	(1.04)	4.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in City Office 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.

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Gregory Tylee	COO Pres	Profile
Stephanie Chung	VP Fin	Profile
Ken Pool	VP Operations	Profile
Anthony CA	S CFO	Profile
James CFA	CEO Director	Profile

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