Real Estate Correlations

PIREX Fund

USD 30.76 0.34 1.12%

The current 90-days correlation between Real Estate Securities and Firsthand Technology Opportunities is 0.25 (i.e., Modest diversification). The correlation of Real Estate 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.

Real Estate Correlation With Market

Significant diversification

The correlation between Real Estate Securities and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Real Estate Securities 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 Real Estate Securities. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Real Mutual Fund

0.8	HR	Healthcare Realty Trust	Pair Corr
0.76	VICI	VICI Properties	Pair Corr
0.65	ELME	Elme Communities	Pair Corr

Moving against Real Mutual Fund

0.44	PW	Power REIT	Pair Corr
0.46	EMITF	Elbit Imaging	Pair Corr
0.37	ACR	Acres Commercial Realty	Pair Corr

Related Correlations Analysis

	TEFQX	DTEYX	ROGSX	MTCCX	FIKHX	VITAX	HTECX
TEFQX		0.93	0.89	0.92	0.95	0.95	0.93	TEFQX
DTEYX	0.93		0.91	0.99	0.97	0.99	0.89	DTEYX
ROGSX	0.89	0.91		0.95	0.89	0.93	0.87	ROGSX
MTCCX	0.92	0.99	0.95		0.95	0.98	0.89	MTCCX
FIKHX	0.95	0.97	0.89	0.95		0.99	0.9	FIKHX
VITAX	0.95	0.99	0.93	0.98	0.99		0.91	VITAX
HTECX	0.93	0.89	0.87	0.89	0.9	0.91		HTECX
	TEFQX	DTEYX	ROGSX	MTCCX	FIKHX	VITAX	HTECX

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Risk-Adjusted Indicators

There is a big difference between Real Mutual Fund performing well and Real Estate Mutual Fund 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 Real Estate'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
TEFQX	1.19	(0.03)	0.02	0.10	1.67	(1.20)	2.88	(2.66)	8.22
DTEYX	0.92	0.01	0.01	0.14	1.27	(0.91)	1.88	(2.49)	5.99
ROGSX	0.87	(0.09)	(0.05)	0.04	1.35	(0.85)	1.70	(2.51)	5.59
MTCCX	0.86	(0.01)	0.00	0.12	1.16	(0.89)	2.11	(2.31)	5.97
FIKHX	1.04	0.00	0.01	0.12	1.58	(0.97)	2.17	(2.57)	7.16
VITAX	0.96	(0.01)	0.01	0.11	1.40	(0.92)	1.98	(2.45)	6.25
HTECX	0.87	(0.08)	(0.03)	0.06	1.22	(0.82)	1.73	(2.15)	6.25

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