Piedmont Office Correlations

PDM Stock

USD 8.38 0.33 3.79%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Piedmont Office moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Piedmont Office Realty moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Piedmont Office Correlation With Market

Modest diversification

The correlation between Piedmont Office Realty and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Piedmont Office Realty and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Piedmont Office Realty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Piedmont Stock

0.76	FISK	Empire State Realty	Pair Corr
0.61	CDP	COPT Defense Properties Earnings Call This Week	Pair Corr
0.74	CUZ	Cousins Properties Earnings Call This Week	Pair Corr
0.75	DEA	Eerly Govt Ppty	Pair Corr
0.69	EQC	Equity Commonwealth	Pair Corr
0.68	OPI	Office Properties Income	Pair Corr
0.62	SLG	SL Green Realty	Pair Corr
0.81	OGCP	Empire State Realty	Pair Corr
0.66	PGRE	Paramount Group	Pair Corr
0.84	PSTL	Postal Realty Trust	Pair Corr
0.79	O	Realty Income	Pair Corr
0.62	HR	Healthcare Realty Trust	Pair Corr
0.81	KW	Kennedy Wilson Holdings	Pair Corr

Moving against Piedmont Stock

0.58	DX	Dynex Capital	Pair Corr
0.45	CIO-PA	City Office REIT	Pair Corr
0.68	MITT-PC	AG Mortgage Investment	Pair Corr

Related Correlations Analysis

	OFC	HIW	DEI	KRC	CUZ	BDN	CIO	HPP	OPI	EQC
OFC		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OFC
HIW	0.0		0.43	0.5	0.27	0.27	-0.03	0.89	0.41	0.46	HIW
DEI	0.0	0.43		0.66	0.53	0.6	0.62	0.24	0.64	0.26	DEI
KRC	0.0	0.5	0.66		0.22	0.45	0.43	0.38	0.35	0.07	KRC
CUZ	0.0	0.27	0.53	0.22		0.3	0.11	0.26	0.55	0.56	CUZ
BDN	0.0	0.27	0.6	0.45	0.3		0.58	0.05	0.32	-0.14	BDN
CIO	0.0	-0.03	0.62	0.43	0.11	0.58		-0.12	0.35	-0.24	CIO
HPP	0.0	0.89	0.24	0.38	0.26	0.05	-0.12		0.41	0.53	HPP
OPI	0.0	0.41	0.64	0.35	0.55	0.32	0.35	0.41		0.72	OPI
EQC	0.0	0.46	0.26	0.07	0.56	-0.14	-0.24	0.53	0.72		EQC
	OFC	HIW	DEI	KRC	CUZ	BDN	CIO	HPP	OPI	EQC

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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

HPP	+ 0.89	HIW
EQC	+ 0.72	OPI
KRC	+ 0.66	DEI
OPI	+ 0.64	DEI
CIO	+ 0.62	DEI
BDN	+ 0.6	DEI

High negative correlations

EQC	- 0.24	CIO
EQC	- 0.14	BDN
HPP	- 0.12	CIO
CIO	- 0.03	HIW
EQC	- 0.0	OFC
OPI	- 0.0	OFC

Risk-Adjusted Indicators

There is a big difference between Piedmont Stock performing well and Piedmont Office 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 Piedmont Office'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
OFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HIW	1.22	(0.30)	0.00	(0.54)	0.00	0.00	1.53	(2.83)	6.40
DEI	1.73	(0.06)	(0.03)	0.00	2.76	(1.52)	3.09	(4.39)	11.24
KRC	1.71	(0.14)	0.00	(0.64)	0.00	0.00	2.99	(3.90)	12.11
CUZ	1.16	(0.12)	0.00	(0.11)	0.00	0.00	1.81	(3.17)	7.40
BDN	1.57	0.09	0.03	0.22	2.16	(1.68)	3.70	(3.03)	10.93
CIO	1.80	(0.06)	(0.03)	0.03	2.36	(1.93)	3.57	(4.47)	13.60
HPP	3.87	(0.65)	0.00	(0.27)	0.00	0.00	8.13	(7.62)	25.79
OPI	3.69	(0.71)	0.00	(0.28)	0.00	0.00	4.84	(9.09)	55.61
EQC	3.37	(1.40)	0.00	(1.04)	0.00	0.00	2.38	(2.23)	94.26

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