Paramount Correlations

PGRE Stock

USD 4.56 0.02 0.44%

The current 90-days correlation between Paramount Group and Corporate Office Properties is -0.18 (i.e., Good diversification). The correlation of Paramount 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.

Paramount Correlation With Market

Average diversification

The correlation between Paramount Group and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paramount Group 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 Paramount Group. 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 Paramount Stock

0.66	O	Realty Income	Pair Corr
0.64	FR	First Industrial Realty	Pair Corr
0.69	ELME	Elme Communities	Pair Corr
0.74	WHLR	Wheeler Real Estate	Pair Corr
0.62	AHH	Armada Hflr Pr	Pair Corr
0.71	ARE	Alexandria Real Estate	Pair Corr
0.7	BNL	Broadstone Net Lease	Pair Corr
0.71	BXP	Boston Properties	Pair Corr

Moving against Paramount Stock

0.66	AHR	American Healthcare REIT,	Pair Corr
0.48	AHT	Ashford Hospitality Trust	Pair Corr
0.36	EQIX	Equinix	Pair Corr
0.31	AIV	Apartment Investment and	Pair Corr
0.45	DLR	Digital Realty Trust	Pair Corr

Related Correlations Analysis

	OFC	HIW	PDM	DEI	KRC	BDN	CIO	CUZ	EQC	HPP
OFC		-0.69	-0.69	-0.44	-0.47	-0.41	0.0	-0.58	-0.68	-0.63	OFC
HIW	-0.69		0.97	0.26	0.61	0.49	0.29	0.69	0.75	0.93	HIW
PDM	-0.69	0.97		0.25	0.58	0.47	0.27	0.67	0.72	0.95	PDM
DEI	-0.44	0.26	0.25		0.74	0.51	0.54	0.56	0.11	0.15	DEI
KRC	-0.47	0.61	0.58	0.74		0.63	0.63	0.7	0.23	0.48	KRC
BDN	-0.41	0.49	0.47	0.51	0.63		0.62	0.38	0.09	0.32	BDN
CIO	0.0	0.29	0.27	0.54	0.63	0.62		0.2	-0.14	0.17	CIO
CUZ	-0.58	0.69	0.67	0.56	0.7	0.38	0.2		0.63	0.62	CUZ
EQC	-0.68	0.75	0.72	0.11	0.23	0.09	-0.14	0.63		0.8	EQC
HPP	-0.63	0.93	0.95	0.15	0.48	0.32	0.17	0.62	0.8		HPP
	OFC	HIW	PDM	DEI	KRC	BDN	CIO	CUZ	EQC	HPP

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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

PDM	+ 0.97	HIW
HPP	+ 0.95	PDM
HPP	+ 0.93	HIW
HPP	+ 0.8	EQC
EQC	+ 0.75	HIW
KRC	+ 0.74	DEI

High negative correlations

PDM	- 0.69	OFC
HIW	- 0.69	OFC
EQC	- 0.68	OFC
HPP	- 0.63	OFC
CUZ	- 0.58	OFC
KRC	- 0.47	OFC

Risk-Adjusted Indicators

There is a big difference between Paramount Stock performing well and Paramount 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 Paramount'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	1.39	0.19	0.12	(66.52)	1.30	(1.67)	3.10	(2.44)	6.24
HIW	1.14	(0.17)	0.00	(0.35)	0.00	0.00	1.53	(2.83)	8.15
PDM	1.50	(0.21)	0.00	(0.62)	0.00	0.00	3.26	(3.84)	10.92
DEI	1.69	(0.03)	0.00	(0.02)	0.00	0.00	2.77	(4.39)	11.24
KRC	1.69	0.00	0.00	0.02	2.52	(1.57)	3.37	(3.68)	12.11
BDN	1.90	(0.10)	0.00	(0.15)	0.00	0.00	3.70	(4.27)	17.57
CIO	1.84	(0.06)	0.00	(0.05)	0.00	0.00	3.67	(4.47)	13.60
CUZ	1.11	0.03	0.01	0.07	1.82	(1.01)	1.89	(2.60)	8.87
EQC	3.04	(1.20)	0.00	(1.31)	0.00	0.00	2.00	(2.17)	94.26
HPP	3.75	(0.46)	0.00	(0.28)	0.00	0.00	8.13	(7.62)	25.79

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