Forestar Correlations

FOR Stock

USD 28.24 0.85 2.92%

The current 90-days correlation between Forestar Group and Ellington Financial is 0.17 (i.e., Average diversification). The correlation of Forestar 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.

Forestar Correlation With Market

Poor diversification

The correlation between Forestar Group and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forestar Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Forestar Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Forestar Group. 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.

Moving together with Forestar Stock

0.73	TAYN	Societe de Tayninh	Pair Corr
0.68	KW	Kennedy Wilson Holdings	Pair Corr
0.64	CDE	Coeur Mining Earnings Call Tomorrow	Pair Corr
0.72	HYN	Hysan Development Earnings Call Today	Pair Corr
0.7	VTMX	Corporacin Inmobiliaria	Pair Corr
0.74	PSPN	PSP Swiss Property	Pair Corr
0.63	GUV	Graphisoft Park SE	Pair Corr
0.7	ALLN	Allreal Holding	Pair Corr

Moving against Forestar Stock

0.78	ZG	Zillow Group	Pair Corr
0.76	Z	Zillow Group Class	Pair Corr
0.7	UK	Ucommune International	Pair Corr
0.65	GTY	Gateway Real Estate	Pair Corr
0.63	OZ	Belpointe PREP LLC	Pair Corr
0.62	9KL0	GROUPIMO SA INH	Pair Corr
0.78	AIF	Altus Group Limited	Pair Corr
0.66	8KI	REDCO PRP GROUP	Pair Corr
0.64	GUF	Gulf Pacific Equities	Pair Corr
0.54	KDSX	Kadestone Capital Corp	Pair Corr
0.53	DZJ	Country Garden Holdings	Pair Corr
0.31	CRZK	CR Capital AG	Pair Corr
0.65	EXPI	eXp World Holdings	Pair Corr
0.58	6CI	CIFI Holdings	Pair Corr
0.52	1R7	RONSHINE CHHLDHD 00001	Pair Corr
0.38	HZJ	Heiwa Real Estate	Pair Corr
0.38	3ZH	ZHONGLIANG HLDG HD	Pair Corr

Related Correlations Analysis

	KREF	EFC	ARI	SDHC	IIPR	VRE	LADR	SILA	HOUS	HBNB
KREF		0.73	-0.56	0.48	0.37	-0.89	0.78	-0.83	-0.55	-0.07	KREF
EFC	0.73		-0.71	0.49	0.32	-0.78	0.68	-0.68	-0.4	0.16	EFC
ARI	-0.56	-0.71		-0.23	-0.15	0.65	-0.33	0.79	0.73	0.27	ARI
SDHC	0.48	0.49	-0.23		0.53	-0.49	0.5	-0.31	-0.27	0.1	SDHC
IIPR	0.37	0.32	-0.15	0.53		-0.21	0.56	-0.32	-0.06	0.08	IIPR
VRE	-0.89	-0.78	0.65	-0.49	-0.21		-0.65	0.8	0.62	0.11	VRE
LADR	0.78	0.68	-0.33	0.5	0.56	-0.65		-0.54	-0.14	0.25	LADR
SILA	-0.83	-0.68	0.79	-0.31	-0.32	0.8	-0.54		0.7	0.28	SILA
HOUS	-0.55	-0.4	0.73	-0.27	-0.06	0.62	-0.14	0.7		0.61	HOUS
HBNB	-0.07	0.16	0.27	0.1	0.08	0.11	0.25	0.28	0.61		HBNB
	KREF	EFC	ARI	SDHC	IIPR	VRE	LADR	SILA	HOUS	HBNB

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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

SILA	+ 0.8	VRE
SILA	+ 0.79	ARI
LADR	+ 0.78	KREF
EFC	+ 0.73	KREF
HOUS	+ 0.73	ARI
HOUS	+ 0.7	SILA

High negative correlations

VRE	- 0.89	KREF
SILA	- 0.83	KREF
VRE	- 0.78	EFC
ARI	- 0.71	EFC
SILA	- 0.68	EFC
LADR	- 0.65	VRE

Risk-Adjusted Indicators

There is a big difference between Forestar Stock performing well and Forestar 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 Forestar'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
KREF	1.36	(0.30)	0.00	(0.17)	0.00	0.00	2.44	(3.02)	11.70
EFC	0.75	(0.13)	0.00	(0.23)	0.00	0.00	1.17	(1.62)	5.32
ARI	0.93	0.12	0.07	0.31	0.86	(1.06)	2.07	(1.69)	7.23
SDHC	2.76	0.03	(0.01)	0.16	3.25	(3.23)	6.93	(5.22)	18.62
IIPR	1.87	0.21	0.10	0.35	1.83	(2.36)	4.46	(3.27)	14.66
VRE	1.17	0.38	0.21	(1.65)	0.83	(1.33)	3.68	(1.82)	12.06
LADR	0.93	(0.06)	(0.04)	0.03	1.52	(0.91)	1.75	(1.70)	9.16
SILA	0.95	0.13	0.03	19.81	1.07	(1.03)	2.17	(1.67)	6.27
HOUS	2.57	0.84	0.35	2.76	1.49	(3.10)	6.95	(3.45)	14.45
HBNB	3.35	0.42	0.08	2.25	3.87	(3.86)	8.37	(6.90)	25.73

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