First Industrial Correlations

FR Stock

USD 60.14 0.52 0.87%

The current 90-days correlation between First Industrial Realty and STAG Industrial is 0.64 (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 poor diversification

The correlation between First Industrial Realty and DJI is 0.84 (i.e., Very poor 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

0.7	HOT-U	American Hotel Income	Pair Corr
0.73	DIR-UN	Dream Industrial Real Earnings Call This Week	Pair Corr
0.69	GPOVF	Grupo Carso SAB	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.83	WMT	Walmart Common Stock	Pair Corr
0.72	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.62	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	INTC	Intel	Pair Corr
0.81	MRK	Merck Company	Pair Corr

Moving against First Stock

0.8	OPINL	Office Properties Income	Pair Corr
0.78	ORGN	Origin Materials	Pair Corr
0.66	FSP	Franklin Street Prop Earnings Call This Week	Pair Corr
0.66	MSFT	Microsoft Sell-off Trend	Pair Corr

Related Correlations Analysis

	STAG	VNO	CTRE	CUBE	REXR	TRNO	NNN	ADC
STAG		0.25	0.29	0.15	0.38	0.5	0.31	0.7	STAG
VNO	0.25		-0.28	-0.33	0.53	-0.35	-0.51	-0.08	VNO
CTRE	0.29	-0.28		0.59	-0.32	0.65	0.62	0.45	CTRE
CUBE	0.15	-0.33	0.59		0.06	0.54	0.86	0.26	CUBE
REXR	0.38	0.53	-0.32	0.06		-0.03	-0.03	0.0	REXR
TRNO	0.5	-0.35	0.65	0.54	-0.03		0.73	0.7	TRNO
NNN	0.31	-0.51	0.62	0.86	-0.03	0.73		0.52	NNN
ADC	0.7	-0.08	0.45	0.26	0.0	0.7	0.52		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	+ 0.86	CUBE
NNN	+ 0.73	TRNO
ADC	+ 0.7	STAG
ADC	+ 0.7	TRNO
TRNO	+ 0.65	CTRE
NNN	+ 0.62	CTRE

High negative correlations

NNN	- 0.51	VNO
TRNO	- 0.35	VNO
CUBE	- 0.33	VNO
REXR	- 0.32	CTRE
CTRE	- 0.28	VNO
ADC	- 0.08	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	0.71	0.02	(0.06)	0.18	0.75	(0.80)	1.61	(1.35)	3.62
VNO	1.40	(0.20)	0.00	(0.13)	0.00	0.00	2.88	(2.85)	9.73
CTRE	0.93	0.13	0.03	(1.21)	1.09	(0.94)	1.61	(2.27)	6.71
CUBE	1.03	0.00	(0.03)	0.09	1.09	(1.12)	2.34	(1.99)	4.49
REXR	1.19	(0.16)	0.00	(0.13)	0.00	0.00	2.30	(1.96)	9.72
TRNO	0.93	0.17	0.10	0.71	0.88	(1.03)	2.49	(1.77)	5.89
NNN	0.80	0.13	0.07	1.34	0.74	(0.88)	1.66	(1.32)	4.54
ADC	0.72	0.12	0.01	(0.36)	0.89	(0.73)	1.63	(1.83)	4.86

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