Global Medical Correlations

GMRE Stock

USD 8.70 0.03 0.34%

The current 90-days correlation between Global Medical REIT and National Health Investors is 0.33 (i.e., Weak diversification). The correlation of Global Medical 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.

Global Medical Correlation With Market

Modest diversification

The correlation between Global Medical REIT and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Medical REIT and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Medical 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.

Moving together with Global Stock

0.67	O	Realty Income	Pair Corr
0.72	NNN	National Retail Prop Sell-off Trend	Pair Corr
0.77	JBGS	JBG SMITH Properties	Pair Corr
0.82	WY	Weyerhaeuser Sell-off Trend	Pair Corr
0.71	ADC-PA	Agree Realty	Pair Corr

Moving against Global Stock

0.47	IVT	Inventrust Properties	Pair Corr
0.41	ROIC	Retail Opportunity	Pair Corr
0.4	KIM	Kimco Realty	Pair Corr
0.37	UE	Urban Edge Properties	Pair Corr
0.36	SPG	Simon Property Group	Pair Corr
0.34	BRX	Brixmor Property	Pair Corr
0.31	SKT	Tanger Factory Outlet	Pair Corr
0.51	EMITF	Elbit Imaging	Pair Corr

Related Correlations Analysis

	PEAK	DOC	VTR	NHI	SBRA	HR	CTRE	OHI	UHT	CHCT
PEAK		-0.54	-0.25	-0.04	-0.31	-0.09	-0.34	-0.34	-0.15	0.23	PEAK
DOC	-0.54		0.35	0.12	0.32	0.34	0.29	0.45	0.23	0.02	DOC
VTR	-0.25	0.35		0.01	0.86	0.39	0.8	0.88	-0.24	-0.16	VTR
NHI	-0.04	0.12	0.01		0.05	0.44	-0.06	-0.1	0.84	-0.35	NHI
SBRA	-0.31	0.32	0.86	0.05		0.2	0.84	0.91	-0.21	0.06	SBRA
HR	-0.09	0.34	0.39	0.44	0.2		0.06	0.27	0.5	-0.2	HR
CTRE	-0.34	0.29	0.8	-0.06	0.84	0.06		0.84	-0.35	0.04	CTRE
OHI	-0.34	0.45	0.88	-0.1	0.91	0.27	0.84		-0.29	0.1	OHI
UHT	-0.15	0.23	-0.24	0.84	-0.21	0.5	-0.35	-0.29		-0.32	UHT
CHCT	0.23	0.02	-0.16	-0.35	0.06	-0.2	0.04	0.1	-0.32		CHCT
	PEAK	DOC	VTR	NHI	SBRA	HR	CTRE	OHI	UHT	CHCT

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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
SBRA	+ 0.86	VTR
UHT	+ 0.84	NHI
CTRE	+ 0.84	SBRA
OHI	+ 0.84	CTRE

High negative correlations

DOC	- 0.54	PEAK
UHT	- 0.35	CTRE
CHCT	- 0.35	NHI
OHI	- 0.34	PEAK
CTRE	- 0.34	PEAK
CHCT	- 0.32	UHT

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Medical 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 Global Medical'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
PEAK	1.20	0.04	(0.02)	0.24	1.41	(1.22)	2.88	(2.16)	6.74
DOC	1.08	(0.01)	(0.07)	0.03	1.32	(1.10)	2.36	(2.08)	6.16
VTR	0.86	0.16	0.04	(0.83)	0.99	(0.89)	1.99	(1.80)	5.92
NHI	1.09	0.01	(0.04)	0.15	1.30	(1.11)	2.38	(2.29)	6.32
SBRA	1.23	0.22	0.07	(5.37)	1.51	(1.26)	2.54	(2.50)	8.78
HR	1.01	0.05	(0.03)	1.83	1.27	(1.05)	2.00	(2.46)	4.90
CTRE	0.99	0.15	0.01	(0.31)	1.26	(1.08)	2.06	(1.45)	7.20
OHI	0.84	0.12	0.00	(0.41)	1.04	(0.81)	1.70	(1.97)	5.15
UHT	1.08	(0.14)	0.00	(0.14)	0.00	0.00	2.24	(1.93)	6.11
CHCT	1.72	(0.03)	(0.03)	0.04	2.13	(1.99)	4.99	(2.35)	10.50

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