National Health Correlations

NHI Stock

USD 68.24 0.88 1.31%

The current 90-days correlation between National Health Investors and Global Medical REIT is 0.49 (i.e., Very weak diversification). The correlation of National Health 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.

National Health Correlation With Market

Modest diversification

The correlation between National Health Investors and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Health Investors and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in National Health Investors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with National Stock

0.85	ARE	Alexandria Real Estate	Pair Corr
0.81	BXP	Boston Properties	Pair Corr
0.68	CUZ	Cousins Properties Earnings Call This Week	Pair Corr
0.78	HIW	Highwoods Properties Earnings Call This Week	Pair Corr
0.83	HPP	Hudson Pacific Properties Buyout Trend	Pair Corr
0.82	PDM	Piedmont Office Realty Earnings Call This Week	Pair Corr
0.93	SLG	SL Green Realty	Pair Corr
0.76	O	Realty Income	Pair Corr
0.7	FR	First Industrial Realty Earnings Call This Week	Pair Corr
0.71	HR	Healthcare Realty Trust	Pair Corr
0.83	KW	Kennedy Wilson Holdings	Pair Corr
0.85	UE	Urban Edge Properties	Pair Corr
0.8	WY	Weyerhaeuser	Pair Corr
0.69	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.73	ADC-PA	Agree Realty	Pair Corr
0.61	DOUG	Douglas Elliman	Pair Corr

Moving against National Stock

0.75	SHO	Sunstone Hotel Investors	Pair Corr
0.63	INN	Summit Hotel Properties	Pair Corr
0.6	DX	Dynex Capital	Pair Corr
0.41	RLJ	RLJ Lodging Trust	Pair Corr
0.35	PEB	Pebblebrook Hotel Trust Sell-off Trend	Pair Corr
0.78	MITT-PC	AG Mortgage Investment	Pair Corr
0.5	CDR-PC	Cedar Realty Trust	Pair Corr

Related Correlations Analysis

	GMRE	DOC	VTR	OHI	PEAK	HR	SBRA	CHCT	UHT	GMRE-PA
GMRE		0.95	0.94	0.91	0.15	0.64	0.9	-0.52	0.82	0.01	GMRE
DOC	0.95		0.92	0.9	0.12	0.67	0.92	-0.4	0.86	0.08	DOC
VTR	0.94	0.92		0.93	0.11	0.68	0.94	-0.41	0.83	0.09	VTR
OHI	0.91	0.9	0.93		-0.05	0.68	0.97	-0.54	0.78	-0.1	OHI
PEAK	0.15	0.12	0.11	-0.05		-0.29	-0.05	0.21	0.13	0.34	PEAK
HR	0.64	0.67	0.68	0.68	-0.29		0.72	-0.35	0.78	-0.3	HR
SBRA	0.9	0.92	0.94	0.97	-0.05	0.72		-0.42	0.83	-0.02	SBRA
CHCT	-0.52	-0.4	-0.41	-0.54	0.21	-0.35	-0.42		-0.21	0.43	CHCT
UHT	0.82	0.86	0.83	0.78	0.13	0.78	0.83	-0.21		-0.07	UHT
GMRE-PA	0.01	0.08	0.09	-0.1	0.34	-0.3	-0.02	0.43	-0.07		GMRE-PA
	GMRE	DOC	VTR	OHI	PEAK	HR	SBRA	CHCT	UHT	GMRE-PA

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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

SBRA	+ 0.97	OHI
DOC	+ 0.95	GMRE
VTR	+ 0.94	GMRE
SBRA	+ 0.94	VTR
OHI	+ 0.93	VTR
VTR	+ 0.92	DOC

High negative correlations

CHCT	- 0.54	OHI
CHCT	- 0.52	GMRE
CHCT	- 0.42	SBRA
CHCT	- 0.41	VTR
CHCT	- 0.4	DOC
CHCT	- 0.35	HR

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Health 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 National Health'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	1.13	(0.26)	0.00	(0.73)	0.00	0.00	1.89	(2.54)	5.89
DOC	1.27	(0.23)	0.00	(0.30)	0.00	0.00	1.87	(2.70)	6.80
VTR	1.03	(0.16)	0.00	(0.57)	0.00	0.00	1.99	(2.08)	5.56
OHI	1.04	(0.22)	0.00	(0.47)	0.00	0.00	1.70	(2.66)	6.36
PEAK	1.20	0.09	0.00	(0.35)	1.41	(1.22)	2.88	(2.16)	6.74
HR	1.33	(0.13)	0.00	(0.27)	0.00	0.00	2.01	(2.81)	9.00
SBRA	1.39	(0.20)	0.00	(0.46)	0.00	0.00	2.26	(3.65)	8.78
CHCT	1.47	0.30	0.15	3.73	1.39	(1.69)	3.02	(2.34)	10.18
UHT	1.19	(0.12)	0.00	(0.15)	0.00	0.00	2.71	(2.44)	6.69
GMRE-PA	0.50	0.01	(0.09)	0.36	0.57	(0.62)	1.16	(1.19)	3.75

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