CARETRUST REIT Correlations

7XC Stock

EUR 25.00 0.40 1.57%

The current 90-days correlation between CARETRUST REIT DL and Clean Energy Fuels is -0.09 (i.e., Good diversification). The correlation of CARETRUST 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.

CARETRUST REIT Correlation With Market

Significant diversification

The correlation between CARETRUST REIT DL 01 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CARETRUST REIT DL 01 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CARETRUST 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 CARETRUST 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 CARETRUST 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 CARETRUST REIT DL 01 to buy it.

Moving together with CARETRUST Stock

0.61	SSUN	Samsung Electronics	Pair Corr
0.63	SSUN	Samsung Electronics	Pair Corr
0.84	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against CARETRUST Stock

0.82	DBPE	Xtrackers LevDAX	Pair Corr
0.79	SXV	Xinhua Winshare Publ	Pair Corr
0.78	E908	Lyxor 1	Pair Corr
0.69	ECHA	Ecopetrol SA	Pair Corr
0.42	APC	Apple Inc	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.4	APC	Apple Inc	Pair Corr
0.39	APC	Apple Inc	Pair Corr
0.39	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	A4A	WIQ	SOQ	4QVA	UCE	H1Q	M8Z	TMD0
A4A		0.63	0.0	0.27	0.19	0.57	-0.57	-0.24	A4A
WIQ	0.63		0.0	0.31	0.31	0.55	-0.37	-0.25	WIQ
SOQ	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SOQ
4QVA	0.27	0.31	0.0		-0.15	0.28	0.01	-0.19	4QVA
UCE	0.19	0.31	0.0	-0.15		0.33	-0.12	0.25	UCE
H1Q	0.57	0.55	0.0	0.28	0.33		-0.31	-0.15	H1Q
M8Z	-0.57	-0.37	0.0	0.01	-0.12	-0.31		0.2	M8Z
TMD0	-0.24	-0.25	0.0	-0.19	0.25	-0.15	0.2		TMD0
	A4A	WIQ	SOQ	4QVA	UCE	H1Q	M8Z	TMD0

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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

WIQ	+ 0.63	A4A
H1Q	+ 0.57	A4A
H1Q	+ 0.55	WIQ
H1Q	+ 0.33	UCE
4QVA	+ 0.31	WIQ
UCE	+ 0.31	WIQ

High negative correlations

M8Z	- 0.57	A4A
M8Z	- 0.37	WIQ
M8Z	- 0.31	H1Q
TMD0	- 0.25	WIQ
TMD0	- 0.24	A4A
TMD0	- 0.19	4QVA

Risk-Adjusted Indicators

There is a big difference between CARETRUST Stock performing well and CARETRUST 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 CARETRUST 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
A4A	1.75	0.08	0.03	0.10	2.04	(2.84)	5.17	(4.32)	11.24
WIQ	3.00	0.10	0.03	0.10	3.05	(3.65)	7.59	(5.07)	18.00
SOQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
4QVA	0.88	0.01	0.00	0.02	0.00	0.00	5.88	(5.56)	11.44
UCE	2.22	0.01	0.00	0.02	3.08	(2.17)	3.91	(3.63)	16.29
H1Q	2.32	0.29	0.06	(0.45)	2.34	(5.40)	8.33	(4.17)	16.70
M8Z	0.80	(0.42)	0.00	1.38	0.00	0.00	0.00	0.00	26.81
TMD0	1.79	0.00	0.00	0.00	2.19	(2.83)	3.64	(3.64)	19.11

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Our tools can tell you how much better you can do entering a position in CARETRUST REIT 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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