Power REIT Correlations
| PW-PA Preferred Stock | USD 4.15 0.40 10.67% |
The current 90-days correlation between Power REIT PFD and AG Mortgage Investment is 0.11 (i.e., Average diversification). The correlation of Power REIT 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.
Power REIT Correlation With Market
Significant diversification
The correlation between Power REIT PFD and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power REIT PFD and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Power REIT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Power REIT 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 Power REIT - 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 Power REIT PFD to buy it.
Moving together with Power Preferred Stock
Moving against Power Preferred Stock
| 0.86 | EPR-PC | EPR Properties | PairCorr |
| 0.77 | EPR-PE | EPR Properties Series | PairCorr |
| 0.75 | DLR-PK | Digital Realty Trust Earnings Call This Week | PairCorr |
| 0.68 | AHT-PH | Ashford Hospitality Trust | PairCorr |
| 0.67 | OZ | Belpointe PREP LLC | PairCorr |
| 0.65 | LANDM | Gladstone Land Corp | PairCorr |
| 0.6 | EPR-PG | EPR Properties | PairCorr |
| 0.57 | DLR-PJ | Digital Realty Trust Earnings Call This Week | PairCorr |
| 0.5 | WY | Weyerhaeuser Earnings Call This Week | PairCorr |
| 0.49 | DX | Dynex Capital Earnings Call This Week | PairCorr |
| 0.49 | KW | Kennedy Wilson Holdings | PairCorr |
| 0.43 | UE | Urban Edge Properties | PairCorr |
| 0.4 | PK | Park Hotels Resorts | PairCorr |
| 0.35 | DLR-PL | Digital Realty Trust Earnings Call This Week | PairCorr |
| 0.33 | FR | First Industrial Realty | PairCorr |
| 0.31 | O | Realty Income | PairCorr |
| 0.83 | DOUG | Douglas Elliman | PairCorr |
| 0.8 | ESBA | Empire State Realty | PairCorr |
| 0.78 | ESRT | Empire State Realty Earnings Call This Week | PairCorr |
| 0.76 | AHT-PI | Ashford Hospitality Trust | PairCorr |
| 0.74 | AHT-PG | Ashford Hospitality Trust | PairCorr |
| 0.73 | AHT-PF | Ashford Hospitality Trust | PairCorr |
| 0.7 | MITT-PC | AG Mortgage Investment | PairCorr |
| 0.67 | CDR-PC | Cedar Realty Trust | PairCorr |
| 0.66 | AHT-PD | Ashford Hospitality Trust | PairCorr |
| 0.66 | WELL | Welltower | PairCorr |
| 0.63 | ELME | Elme Communities | PairCorr |
| 0.61 | MITT-PB | AG Mortgage Investment | PairCorr |
| 0.49 | VICI | VICI Properties | PairCorr |
| 0.47 | VNO-PL | Vornado Realty Trust | PairCorr |
| 0.46 | MITT-PA | AG Mortgage Investment | PairCorr |
| 0.43 | VNO-PM | Vornado Realty Trust | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Power Preferred Stock performing well and Power REIT 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 Power REIT'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MITT-PA | 1.16 | 0.13 | 0.02 | 0.57 | 1.36 | 2.59 | 11.41 | |||
| SB-PC | 0.39 | 0.07 | (0.06) | 1.64 | 0.38 | 0.97 | 4.75 | |||
| SB-PD | 0.37 | 0.03 | (0.16) | 0.53 | 0.35 | 1.04 | 2.20 | |||
| EPR-PE | 0.72 | 0.15 | 0.07 | 0.63 | 0.56 | 1.81 | 5.33 | |||
| EPR-PC | 0.83 | 0.21 | 0.12 | 0.67 | 0.75 | 2.14 | 5.29 | |||
| EPR-PG | 0.72 | 0.15 | 0.06 | 0.84 | 0.49 | 1.71 | 3.82 | |||
| LANDP | 0.60 | 0.12 | (0.04) | (0.95) | 0.50 | 1.64 | 4.90 | |||
| LANDO | 0.56 | 0.11 | (0.05) | (1.06) | 0.63 | 1.77 | 6.17 | |||
| LANDM | 0.17 | 0.03 | (0.43) | (3.91) | 0.00 | 0.41 | 1.15 | |||
| DLR-PK | 0.42 | 0.05 | (0.11) | 0.44 | 0.42 | 0.87 | 3.33 |
Power REIT Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Power REIT preferred stock to make a market-neutral strategy. Peer analysis of Power REIT could also be used in its relative valuation, which is a method of valuing Power REIT by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |