National Health Correlations

NHI Stock

USD 70.84 0.17 0.24%

The current 90-days correlation between National Health Investors and Healthcare Realty Trust is -0.01 (i.e., Good diversification). The correlation of National Health 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.

National Health Correlation With Market

Average diversification

The correlation between National Health Investors and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Health Investors and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with National Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in National Health Investors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with National Stock

0.64	ADC	Agree Realty	Pair Corr
0.64	AMH	American Homes 4	Pair Corr
0.66	CCI	Crown Castle	Pair Corr

Moving against National Stock

0.51	FISK	Empire State Realty	Pair Corr
0.46	ESBA	Empire State Realty	Pair Corr
0.45	ESRT	Empire State Realty	Pair Corr
0.5	BHR	Braemar Hotel Resorts	Pair Corr
0.42	DEA	Eerly Govt Ppty	Pair Corr
0.38	DHC	Diversified Healthcare	Pair Corr
0.36	ALX	Alexanders	Pair Corr
0.33	BXP	Boston Properties Sell-off Trend	Pair Corr
0.32	CSR	Centerspace	Pair Corr

Related Correlations Analysis

	GMRE	DOC	VTR	OHI	HR	SBRA	CHCT	UHT	GMRE-PA
GMRE		0.86	0.84	0.23	0.71	-0.53	0.33	-0.04	-0.13	GMRE
DOC	0.86		0.71	0.36	0.74	-0.41	0.42	0.16	-0.23	DOC
VTR	0.84	0.71		0.46	0.51	-0.33	0.04	-0.17	-0.14	VTR
OHI	0.23	0.36	0.46		0.22	0.24	0.03	0.22	0.08	OHI
HR	0.71	0.74	0.51	0.22		-0.23	0.43	0.24	-0.06	HR
SBRA	-0.53	-0.41	-0.33	0.24	-0.23		0.09	0.51	0.46	SBRA
CHCT	0.33	0.42	0.04	0.03	0.43	0.09		0.76	0.49	CHCT
UHT	-0.04	0.16	-0.17	0.22	0.24	0.51	0.76		0.59	UHT
GMRE-PA	-0.13	-0.23	-0.14	0.08	-0.06	0.46	0.49	0.59		GMRE-PA
	GMRE	DOC	VTR	OHI	HR	SBRA	CHCT	UHT	GMRE-PA

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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

DOC	+ 0.86	GMRE
VTR	+ 0.84	GMRE
UHT	+ 0.76	CHCT
HR	+ 0.74	DOC
HR	+ 0.71	GMRE
VTR	+ 0.71	DOC

High negative correlations

SBRA	- 0.53	GMRE
SBRA	- 0.41	DOC
SBRA	- 0.33	VTR
SBRA	- 0.23	HR
GMRE-PA	- 0.23	DOC
UHT	- 0.17	VTR

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Health 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 National Health'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
GMRE	1.62	(0.41)	0.00	2.72	0.00	0.00	2.48	(6.34)	16.17
DOC	1.13	(0.22)	0.00	5.71	0.00	0.00	2.40	(2.99)	8.84
VTR	1.02	(0.09)	0.00	(0.63)	0.00	0.00	1.95	(2.06)	10.03
OHI	1.01	0.01	0.00	0.06	1.52	(0.99)	2.04	(2.83)	7.73
HR	1.12	(0.14)	0.00	(0.28)	0.00	0.00	1.95	(3.31)	7.28
SBRA	1.14	0.12	0.06	0.43	1.50	(1.15)	2.05	(1.91)	7.90
CHCT	1.37	(0.07)	0.00	1.25	0.00	0.00	3.69	(3.19)	9.38
UHT	1.09	0.05	0.02	1.08	1.60	(1.07)	2.46	(2.84)	6.48
GMRE-PA	0.55	0.01	0.00	0.06	0.83	(0.57)	1.26	(1.22)	4.08

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