Mid America Correlations

MAA Stock

USD 150.66 0.30 0.20%

The current 90-days correlation between Mid America Apartment and AvalonBay Communities is -0.12 (i.e., Good diversification). The correlation of Mid America 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.

Mid America Correlation With Market

Good diversification

The correlation between Mid America Apartment Communit 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 Mid America Apartment Communit and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mid Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mid America Apartment 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 nation.

Moving together with Mid Stock

0.7	MPW	Medical Properties Trust	Pair Corr
0.84	NHI	National Health Investors	Pair Corr
0.73	INVH	Invitation Homes Earnings Call This Week	Pair Corr
0.61	UK	Ucommune International	Pair Corr

Moving against Mid Stock

0.74	KRC	Kilroy Realty Corp	Pair Corr
0.68	CIO	City Office	Pair Corr
0.67	CUZ	Cousins Properties	Pair Corr
0.66	HPP	Hudson Pacific Properties	Pair Corr
0.66	INN	Summit Hotel Properties	Pair Corr
0.63	BXP	Boston Properties Sell-off Trend	Pair Corr
0.61	HIW	Highwoods Properties Earnings Call This Week	Pair Corr
0.55	LXP	LXP Industrial Trust	Pair Corr
0.46	DEI	Douglas Emmett	Pair Corr
0.46	FSP	Franklin Street Prop	Pair Corr
0.43	BDN	Brandywine Realty Trust Earnings Call This Week	Pair Corr
0.37	Z	Zillow Group Class	Pair Corr
0.68	PDM	Piedmont Office Realty	Pair Corr
0.68	SLG	SL Green Realty	Pair Corr
0.67	JBGS	JBG SMITH Properties	Pair Corr
0.59	CMCT	Creative Media Community	Pair Corr
0.52	KW	Kennedy Wilson Holdings	Pair Corr
0.43	O	Realty Income	Pair Corr
0.43	OZ	Belpointe PREP LLC	Pair Corr
0.39	HR	Healthcare Realty Trust Sell-off Trend	Pair Corr
0.36	SMA	SmartStop Self Storage	Pair Corr
0.33	DX	Dynex Capital Earnings Call This Week	Pair Corr
0.68	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.65	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.63	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.63	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.62	DOUG	Douglas Elliman	Pair Corr
0.61	AHT-PH	Ashford Hospitality Trust	Pair Corr

Related Correlations Analysis

	AVB	ESS	EQR	UDR	CPT	NXRT
AVB		0.53	0.79	0.82	0.65	0.51	AVB
ESS	0.53		0.26	0.39	0.59	-0.04	ESS
EQR	0.79	0.26		0.83	0.8	0.59	EQR
UDR	0.82	0.39	0.83		0.68	0.79	UDR
CPT	0.65	0.59	0.8	0.68		0.25	CPT
NXRT	0.51	-0.04	0.59	0.79	0.25		NXRT
	AVB	ESS	EQR	UDR	CPT	NXRT

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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

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

High negative correlations

NXRT

- 0.04

ESS

Risk-Adjusted Indicators

There is a big difference between Mid Stock performing well and Mid America 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 Mid America'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
AVB	0.82	(0.06)	(0.09)	0.04	1.10	(0.80)	1.86	(1.65)	5.59
ESS	0.96	0.00	(0.03)	0.13	1.18	(0.96)	2.02	(1.63)	6.30
EQR	0.85	(0.06)	(0.10)	0.03	1.16	(0.83)	1.78	(1.84)	5.67
UDR	0.90	(0.07)	(0.10)	0.02	1.13	(0.95)	1.76	(1.78)	6.07
CPT	0.82	(0.04)	(0.08)	0.07	0.98	(0.91)	1.89	(1.56)	8.03
NXRT	1.08	(0.15)	0.00	(0.06)	0.00	0.00	2.37	(2.45)	6.88

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