CareTrust REIT Correlations

CTRE Stock

USD 30.74 0.08 0.26%

The current 90-days correlation between CareTrust REIT and Global Medical REIT is 0.22 (i.e., Modest 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

Very good diversification

The correlation between CareTrust REIT and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CareTrust 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 CareTrust 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 metropolitan statistical area.

For information on how to trade CareTrust Stock refer to our How to Trade CareTrust Stock guide.

Moving together with CareTrust Stock

0.76	AHR	American Healthcare REIT,	Pair Corr
0.63	VNO-PL	Vornado Realty Trust	Pair Corr
0.71	VNO-PM	Vornado Realty Trust Potential Growth	Pair Corr
0.73	VNO-PN	Vornado Realty Trust	Pair Corr
0.68	VNO-PO	Vornado Realty Trust	Pair Corr

Moving against CareTrust Stock

0.7	RC	Ready Capital Corp	Pair Corr
0.54	UK	Ucommune International	Pair Corr
0.47	HPP	Hudson Pacific Properties Downward Rally	Pair Corr
0.44	FR	First Industrial Realty	Pair Corr
0.43	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.41	PW	Power REIT	Pair Corr
0.33	PK	Park Hotels Resorts	Pair Corr
0.49	AHT-PG	Ashford Hospitality Trust Downward Rally	Pair Corr
0.46	VTMX	Corporacin Inmobiliaria	Pair Corr
0.41	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.33	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.32	ECRO	Ecc Cap Corp	Pair Corr

Related Correlations Analysis

	GMRE	UHT	DOC	HR	SBRA	CHCT	PEAK	VTR	OHI	NHI
GMRE		0.68	0.44	0.36	0.19	-0.48	-0.61	0.15	0.09	0.53	GMRE
UHT	0.68		0.23	0.5	-0.21	-0.32	-0.15	-0.24	-0.29	0.84	UHT
DOC	0.44	0.23		0.34	0.32	0.02	-0.54	0.35	0.45	0.12	DOC
HR	0.36	0.5	0.34		0.2	-0.2	-0.09	0.39	0.27	0.44	HR
SBRA	0.19	-0.21	0.32	0.2		0.06	-0.31	0.86	0.91	0.05	SBRA
CHCT	-0.48	-0.32	0.02	-0.2	0.06		0.23	-0.16	0.1	-0.35	CHCT
PEAK	-0.61	-0.15	-0.54	-0.09	-0.31	0.23		-0.25	-0.34	-0.04	PEAK
VTR	0.15	-0.24	0.35	0.39	0.86	-0.16	-0.25		0.88	0.01	VTR
OHI	0.09	-0.29	0.45	0.27	0.91	0.1	-0.34	0.88		-0.1	OHI
NHI	0.53	0.84	0.12	0.44	0.05	-0.35	-0.04	0.01	-0.1		NHI
	GMRE	UHT	DOC	HR	SBRA	CHCT	PEAK	VTR	OHI	NHI

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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

OHI	+ 0.91	SBRA
OHI	+ 0.88	VTR
VTR	+ 0.86	SBRA
NHI	+ 0.84	UHT
UHT	+ 0.68	GMRE
NHI	+ 0.53	GMRE

High negative correlations

PEAK	- 0.61	GMRE
PEAK	- 0.54	DOC
CHCT	- 0.48	GMRE
NHI	- 0.35	CHCT
OHI	- 0.34	PEAK
CHCT	- 0.32	UHT

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
GMRE	1.01	(0.11)	0.00	(0.14)	0.00	0.00	1.78	(2.36)	6.41
UHT	1.08	(0.14)	0.00	(0.14)	0.00	0.00	2.24	(1.93)	6.11
DOC	1.08	(0.01)	(0.07)	0.03	1.32	(1.10)	2.36	(2.08)	6.16
HR	1.01	0.05	(0.03)	1.83	1.27	(1.05)	2.00	(2.46)	4.90
SBRA	1.23	0.22	0.07	(5.37)	1.51	(1.26)	2.54	(2.50)	8.78
CHCT	1.72	(0.03)	(0.03)	0.04	2.13	(1.99)	4.99	(2.35)	10.50
PEAK	1.20	0.04	(0.02)	0.24	1.41	(1.22)	2.88	(2.16)	6.74
VTR	0.86	0.16	0.04	(0.83)	0.99	(0.89)	1.99	(1.80)	5.92
OHI	0.84	0.12	0.00	(0.41)	1.04	(0.81)	1.70	(1.97)	5.15
NHI	1.09	0.01	(0.04)	0.15	1.30	(1.11)	2.38	(2.29)	6.32

CareTrust REIT Corporate Management

David Sedgwick	VP of Operations	Profile
Mark Lamb	Chief Investment Officer	Profile
James Callister	Chief Secretary	Profile
Eric Gillis	Director Management	Profile
Lauren Beale	Senior Controller	Profile

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