American Tower Correlations

AMT Stock

USD 204.31 1.50 0.74%

The current 90-days correlation between American Tower Corp and Digital Realty Trust is 0.25 (i.e., Modest diversification). The correlation of American Tower 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. If the correlation is 0, the equities are not correlated; they are entirely random.

American Tower Correlation With Market

Very good diversification

The correlation between American Tower Corp and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Tower Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Tower Corp. 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.

Moving together with American Stock

0.87	O	Realty Income	Pair Corr
0.84	FR	First Industrial Realty	Pair Corr
0.91	VICI	VICI Properties	Pair Corr
0.66	ELME	Elme Communities	Pair Corr
0.62	ALX	Alexanders	Pair Corr
0.69	AMH	American Homes 4	Pair Corr
0.83	ARE	Alexandria Real Estate	Pair Corr
0.82	BNL	Broadstone Net Lease	Pair Corr
0.95	CCI	Crown Castle Fiscal Year End 22nd of January 2025	Pair Corr
0.86	CIO	City Office	Pair Corr

Moving against American Stock

0.82	UE	Urban Edge Properties	Pair Corr
0.65	WELL	Welltower	Pair Corr
0.56	EQIX	Equinix	Pair Corr
0.51	AAT	American Assets Trust	Pair Corr
0.38	PK	Park Hotels Resorts	Pair Corr
0.75	AKR	Acadia Realty Trust	Pair Corr
0.68	BRX	Brixmor Property	Pair Corr
0.49	AHR	American Healthcare REIT,	Pair Corr
0.49	BHR	Braemar Hotel Resorts	Pair Corr
0.44	CDP	COPT Defense Properties	Pair Corr
0.87	FPI	Farmland Partners	Pair Corr
0.76	DLR	Digital Realty Trust	Pair Corr

Related Correlations Analysis

	DLR	EQIX	SBAC	IRM	CCI	HASI	GLPI	EPR
DLR		0.92	-0.44	0.51	-0.68	-0.4	-0.46	-0.61	DLR
EQIX	0.92		-0.16	0.62	-0.45	-0.22	-0.23	-0.35	EQIX
SBAC	-0.44	-0.16		0.35	0.81	0.76	0.77	0.85	SBAC
IRM	0.51	0.62	0.35		-0.11	0.46	0.14	0.15	IRM
CCI	-0.68	-0.45	0.81	-0.11		0.62	0.79	0.84	CCI
HASI	-0.4	-0.22	0.76	0.46	0.62		0.64	0.72	HASI
GLPI	-0.46	-0.23	0.77	0.14	0.79	0.64		0.74	GLPI
EPR	-0.61	-0.35	0.85	0.15	0.84	0.72	0.74		EPR
	DLR	EQIX	SBAC	IRM	CCI	HASI	GLPI	EPR

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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

EQIX	+ 0.92	DLR
EPR	+ 0.85	SBAC
EPR	+ 0.84	CCI
CCI	+ 0.81	SBAC
GLPI	+ 0.79	CCI
GLPI	+ 0.77	SBAC

High negative correlations

CCI	- 0.68	DLR
EPR	- 0.61	DLR
GLPI	- 0.46	DLR
CCI	- 0.45	EQIX
SBAC	- 0.44	DLR
HASI	- 0.4	DLR

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Tower 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 American Tower'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
DLR	1.09	0.39	0.20	(2.03)	0.93	(1.32)	2.17	(1.47)	13.70
EQIX	0.82	0.20	0.09	20.19	0.76	(0.92)	1.90	(1.40)	6.14
SBAC	1.01	0.08	(0.07)	(0.04)	1.41	(0.99)	2.20	(1.89)	8.29
IRM	1.29	0.15	(0.01)	(0.24)	2.39	(1.09)	2.39	(2.50)	12.39
CCI	1.12	0.02	0.00	0.08	0.00	0.00	1.98	(2.46)	7.45
HASI	1.71	(0.03)	0.00	0.37	0.00	0.00	2.79	(4.13)	18.58
GLPI	0.64	0.06	(0.07)	(1.13)	0.87	(0.63)	1.45	(1.18)	5.45
EPR	0.82	(0.07)	0.00	(0.10)	0.00	0.00	1.50	(1.56)	6.21

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