Apple Hospitality Correlations

APLE Stock

USD 16.11 0.37 2.35%

The current 90-days correlation between Apple Hospitality REIT and Park Hotels Resorts is 0.81 (i.e., Very poor diversification). The correlation of Apple Hospitality 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.

Apple Hospitality Correlation With Market

Poor diversification

The correlation between Apple Hospitality REIT and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Apple Hospitality REIT 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 Apple Hospitality REIT. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Apple Stock

0.84	UE	Urban Edge Properties	Pair Corr
0.81	EQIX	Equinix	Pair Corr
0.81	AHR	American Healthcare REIT,	Pair Corr
0.8	AKR	Acadia Realty Trust	Pair Corr
0.74	BRX	Brixmor Property	Pair Corr
0.65	IVT	Inventrust Properties	Pair Corr
0.68	KIM	Kimco Realty	Pair Corr
0.69	KRG	Kite Realty Group	Pair Corr
0.95	RHP	Ryman Hospitality	Pair Corr
0.72	RLJ	RLJ Lodging Trust	Pair Corr
0.89	SKT	Tanger Factory Outlet	Pair Corr
0.87	SPG	Simon Property Group	Pair Corr
0.81	WSR	Whitestone REIT	Pair Corr
0.82	ROIC	Retail Opportunity Sell-off Trend	Pair Corr
0.64	SITC	Site Centers Corp	Pair Corr

Moving against Apple Stock

0.67	HPP	Hudson Pacific Properties Buyout Trend	Pair Corr
0.64	NTST	Netstreit Corp	Pair Corr
0.61	NNN	National Retail Prop Sell-off Trend	Pair Corr
0.6	O	Realty Income	Pair Corr
0.42	BNL	Broadstone Net Lease	Pair Corr
0.4	JBGS	JBG SMITH Properties	Pair Corr
0.7	FR	First Industrial Realty	Pair Corr
0.68	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.66	VICI	VICI Properties	Pair Corr
0.65	UK	Ucommune International	Pair Corr
0.62	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.58	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.58	VINO	Gaucho Group Holdings	Pair Corr
0.56	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.53	RC	Ready Capital Corp	Pair Corr
0.37	EARN	Ellington Residential Normal Trading	Pair Corr
0.35	AHT-PD	Ashford Hospitality Trust	Pair Corr

Related Correlations Analysis

	PK	DRH	RHP	PEB	SHO	HST	SVC	RLJ	HT
PK		0.58	0.39	0.62	0.68	0.59	-0.01	0.79	0.39	PK
DRH	0.58		0.9	0.26	0.8	0.86	-0.44	0.74	0.03	DRH
RHP	0.39	0.9		0.02	0.63	0.76	-0.51	0.61	0.05	RHP
PEB	0.62	0.26	0.02		0.55	0.53	0.55	0.48	-0.16	PEB
SHO	0.68	0.8	0.63	0.55		0.88	-0.06	0.59	-0.03	SHO
HST	0.59	0.86	0.76	0.53	0.88		-0.12	0.63	-0.17	HST
SVC	-0.01	-0.44	-0.51	0.55	-0.06	-0.12		-0.28	-0.27	SVC
RLJ	0.79	0.74	0.61	0.48	0.59	0.63	-0.28		0.26	RLJ
HT	0.39	0.03	0.05	-0.16	-0.03	-0.17	-0.27	0.26		HT
	PK	DRH	RHP	PEB	SHO	HST	SVC	RLJ	HT

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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

RHP	+ 0.9	DRH
HST	+ 0.88	SHO
HST	+ 0.86	DRH
SHO	+ 0.8	DRH
RLJ	+ 0.79	PK
HST	+ 0.76	RHP

High negative correlations

SVC	- 0.51	RHP
SVC	- 0.44	DRH
RLJ	- 0.28	SVC
HT	- 0.27	SVC
HT	- 0.17	HST
HT	- 0.16	PEB

Risk-Adjusted Indicators

There is a big difference between Apple Stock performing well and Apple Hospitality 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 Apple Hospitality'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
PK	1.32	(0.14)	(0.04)	0.03	1.62	(1.38)	2.85	(2.71)	10.98
DRH	1.13	(0.05)	0.00	0.09	1.24	(1.26)	2.25	(2.27)	9.19
RHP	1.05	0.07	0.07	0.18	0.89	(1.18)	2.10	(1.74)	7.06
PEB	1.65	(0.15)	(0.02)	0.04	1.83	(2.03)	3.92	(3.29)	10.70
SHO	1.13	(0.12)	(0.06)	0.03	1.33	(1.29)	2.17	(2.51)	7.79
HST	0.97	(0.02)	0.00	0.11	1.19	(0.99)	2.40	(2.49)	6.68
SVC	2.81	(0.83)	0.00	(0.33)	0.00	0.00	4.91	(5.79)	23.10
RLJ	1.17	(0.01)	0.00	0.11	1.22	(1.30)	2.51	(1.91)	9.84
HT	1.39	(0.04)	0.00	0.23	0.00	0.00	3.28	(2.58)	9.17

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