Elme Communities Correlations

ELME Stock

USD 16.48 0.09 0.55%

The current 90-days correlation between Elme Communities and Nexpoint Residential Trust is -0.25 (i.e., Very good diversification). The correlation of Elme Communities 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.

Elme Communities Correlation With Market

Poor diversification

The correlation between Elme Communities and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elme Communities and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Elme Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elme Communities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade Elme Stock refer to our How to Trade Elme Stock guide.

Moving together with Elme Stock

0.86	Z	Zillow Group Class	Pair Corr
0.87	BDN	Brandywine Realty Trust Earnings Call This Week	Pair Corr
0.82	BXP	Boston Properties	Pair Corr
0.75	CIO	City Office	Pair Corr
0.8	CUZ	Cousins Properties	Pair Corr
0.76	DEI	Douglas Emmett	Pair Corr
0.82	EGP	EastGroup Properties Earnings Call This Week	Pair Corr
0.61	FSP	Franklin Street Prop	Pair Corr
0.93	HIW	Highwoods Properties Earnings Call This Week	Pair Corr
0.71	INN	Summit Hotel Properties	Pair Corr
0.84	KRC	Kilroy Realty Corp	Pair Corr
0.89	LXP	LXP Industrial Trust	Pair Corr
0.83	PDM	Piedmont Office Realty	Pair Corr
0.9	SLG	SL Green Realty Earnings Call Today	Pair Corr
0.84	SMA	SmartStop Self Storage	Pair Corr
0.8	JBGS	JBG SMITH Properties	Pair Corr
0.77	CMCT	Creative Media Community	Pair Corr
0.81	DX	Dynex Capital Earnings Call This Week	Pair Corr
0.74	FR	First Industrial Realty Earnings Call Today	Pair Corr
0.81	OZ	Belpointe PREP LLC	Pair Corr
0.77	PK	Park Hotels Resorts Sell-off Trend	Pair Corr
0.76	UE	Urban Edge Properties	Pair Corr
0.62	WY	Weyerhaeuser	Pair Corr
0.75	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.76	AHT-PI	Ashford Hospitality Trust	Pair Corr

Moving against Elme Stock

0.71	MPW	Medical Properties Trust	Pair Corr
0.6	OPI	Office Properties Income	Pair Corr
0.36	UK	Ucommune International	Pair Corr

Related Correlations Analysis

	NXRT	CLPR	CSR	ELS	IRT	VRE	JBGS	IVT	SITC
NXRT		-0.09	-0.18	0.63	0.81	0.72	-0.62	0.33	-0.06	NXRT
CLPR	-0.09		0.42	-0.16	-0.09	-0.14	0.4	0.36	-0.06	CLPR
CSR	-0.18	0.42		-0.22	-0.25	-0.3	0.7	0.51	0.29	CSR
ELS	0.63	-0.16	-0.22		0.58	0.54	-0.6	-0.04	-0.3	ELS
IRT	0.81	-0.09	-0.25	0.58		0.79	-0.7	0.39	-0.4	IRT
VRE	0.72	-0.14	-0.3	0.54	0.79		-0.65	0.31	-0.37	VRE
JBGS	-0.62	0.4	0.7	-0.6	-0.7	-0.65		0.21	0.43	JBGS
IVT	0.33	0.36	0.51	-0.04	0.39	0.31	0.21		0.08	IVT
SITC	-0.06	-0.06	0.29	-0.3	-0.4	-0.37	0.43	0.08		SITC
	NXRT	CLPR	CSR	ELS	IRT	VRE	JBGS	IVT	SITC

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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

IRT	+ 0.81	NXRT
VRE	+ 0.79	IRT
VRE	+ 0.72	NXRT
JBGS	+ 0.7	CSR
ELS	+ 0.63	NXRT
IRT	+ 0.58	ELS

High negative correlations

JBGS	- 0.7	IRT
JBGS	- 0.65	VRE
JBGS	- 0.62	NXRT
JBGS	- 0.6	ELS
SITC	- 0.4	IRT
SITC	- 0.37	VRE

Risk-Adjusted Indicators

There is a big difference between Elme Stock performing well and Elme Communities 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 Elme Communities' 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
NXRT	1.21	0.16	(0.11)	(0.19)	1.56	(1.26)	2.48	(2.45)	11.77
CLPR	2.13	0.11	(0.03)	1.21	2.92	(2.27)	4.86	(4.29)	18.38
CSR	1.05	0.13	(0.13)	(0.41)	1.25	(1.17)	2.22	(2.36)	10.18
ELS	0.93	0.03	0.00	0.14	0.00	0.00	1.91	(1.86)	5.57
IRT	1.07	(0.20)	0.00	(0.02)	0.00	0.00	2.73	(2.04)	9.27
VRE	1.07	0.01	0.00	0.19	0.00	0.00	2.69	(2.22)	6.75
JBGS	1.61	0.23	0.09	0.59	1.25	(1.85)	4.39	(2.78)	9.22
IVT	1.00	(0.09)	(0.12)	0.12	1.23	(1.04)	2.28	(1.87)	8.94
SITC	1.42	0.35	(0.01)	(0.52)	1.42	(1.62)	3.51	(2.54)	11.30

Elme Communities Corporate Management

Efrem Reid	Vice Resources	Profile
Wade Hammond	Chief VP	Profile
Amy Hopkins	Vice Relations	Profile
Anthony Chang	VP Management	Profile
Grant Montgomery	Vice Research	Profile
Katie Fluence	Social Environmental	Profile

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