First Industrial Correlations

FR Stock

USD 62.67 0.83 1.31%

The current 90-days correlation between First Industrial Realty and STAG Industrial is 0.66 (i.e., Poor diversification). The correlation of First Industrial 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.

First Industrial Correlation With Market

Very weak diversification

The correlation between First Industrial Realty and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Industrial Realty and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Industrial Realty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with First Stock

0.61	HR	Healthcare Realty Trust Earnings Call Today	Pair Corr
0.84	0FA	Farmland Partners	Pair Corr
0.82	SGRO	Segro Plc	Pair Corr
0.76	FQI	Digital Realty Trust	Pair Corr
0.73	5PP	LondonMetric Property Plc	Pair Corr
0.87	O1A	One Liberty Properties	Pair Corr
0.8	EPRT	Essential Properties Sell-off Trend	Pair Corr
0.64	SBC	Sabra Health Care	Pair Corr
0.74	UK8	CubeSmart	Pair Corr
0.7	IIP-UN	InterRent Real Estate	Pair Corr
0.78	RFF	Rural Funds Group	Pair Corr
0.63	AHR	American Healthcare REIT	Pair Corr

Moving against First Stock

0.58	WRI	Washington Real Estate	Pair Corr
0.5	DXS	Dexus	Pair Corr
0.81	ESRT	Empire State Realty	Pair Corr
0.76	VO7	Vornado Realty Trust	Pair Corr
0.73	SMWN	SM Wirtschaftsberatungs	Pair Corr
0.73	FISK	Empire State Realty	Pair Corr
0.65	3I0	REXFORD INDREALTY	Pair Corr
0.64	ESBA	Empire State Realty	Pair Corr
0.64	D8K	Douglas Emmett	Pair Corr
0.59	A4XA	American Homes 4	Pair Corr
0.82	CIO	City Office	Pair Corr
0.78	BXP	Boston Properties	Pair Corr
0.68	DEI	Douglas Emmett	Pair Corr
0.66	GEI	SL Green Realty	Pair Corr
0.53	5QV	CITY OFFICE REIT	Pair Corr
0.42	CUZ	Cousins Properties	Pair Corr

Related Correlations Analysis

	STAG	VNO	CTRE	CUBE	REXR	TRNO	NNN	ADC
STAG		-0.35	0.58	0.51	-0.22	0.73	0.57	0.7	STAG
VNO	-0.35		-0.78	-0.74	0.79	-0.77	-0.84	-0.77	VNO
CTRE	0.58	-0.78		0.79	-0.76	0.84	0.88	0.89	CTRE
CUBE	0.51	-0.74	0.79		-0.51	0.78	0.94	0.76	CUBE
REXR	-0.22	0.79	-0.76	-0.51		-0.6	-0.65	-0.71	REXR
TRNO	0.73	-0.77	0.84	0.78	-0.6		0.89	0.89	TRNO
NNN	0.57	-0.84	0.88	0.94	-0.65	0.89		0.87	NNN
ADC	0.7	-0.77	0.89	0.76	-0.71	0.89	0.87		ADC
	STAG	VNO	CTRE	CUBE	REXR	TRNO	NNN	ADC

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

NNN	+ 0.94	CUBE
ADC	+ 0.89	CTRE
NNN	+ 0.89	TRNO
ADC	+ 0.89	TRNO
NNN	+ 0.88	CTRE
ADC	+ 0.87	NNN

High negative correlations

NNN	- 0.84	VNO
CTRE	- 0.78	VNO
ADC	- 0.77	VNO
TRNO	- 0.77	VNO
REXR	- 0.76	CTRE
CUBE	- 0.74	VNO

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Industrial 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 First Industrial'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
STAG	0.84	0.00	(0.02)	0.04	1.15	(0.95)	1.92	(1.45)	7.64
VNO	1.43	(0.33)	0.00	(2.02)	0.00	0.00	2.66	(3.39)	11.83
CTRE	0.92	0.17	0.11	0.61	1.13	(0.93)	1.68	(2.36)	7.97
CUBE	1.02	0.16	0.14	0.34	0.87	(1.21)	2.56	(1.84)	5.83
REXR	1.15	(0.17)	0.00	(0.18)	0.00	0.00	2.08	(1.96)	9.72
TRNO	0.86	0.06	0.04	0.21	0.92	(0.94)	2.22	(1.77)	4.75
NNN	0.81	0.17	0.13	(2.85)	0.83	(0.87)	1.58	(1.42)	4.43
ADC	0.82	0.17	0.09	(0.34)	1.00	(0.87)	1.64	(1.85)	6.16

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