Ready Capital Correlations

RCB Stock

USD 24.61 0.04 0.16%

The current 90-days correlation between Ready Capital and Redwood Trust is 0.15 (i.e., Average diversification). The correlation of Ready Capital 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.

Ready Capital Correlation With Market

Poor diversification

The correlation between Ready Capital and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ready Capital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ready Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ready Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Ready Stock refer to our How to Trade Ready Stock guide.

Moving together with Ready Stock

0.75	WSBF	Waterstone Financial Earnings Call This Week	Pair Corr
0.66	RKT	Rocket Companies	Pair Corr
0.77	ONIT	Onity Group	Pair Corr
0.85	PFSI	PennyMac Finl Svcs	Pair Corr
0.75	TBMCR	Trailblazer Merger	Pair Corr
0.79	ABEV	Ambev SA ADR Aggressive Push	Pair Corr
0.76	LSRCF	Lasertec Earnings Call Tomorrow	Pair Corr
0.77	TBBC	Triad Business Bank	Pair Corr
0.8	ETP	Energy Transfer Partners	Pair Corr
0.8	CSPCY	CSPC Pharmaceutical	Pair Corr
0.72	ANSCU	Agriculture Natural	Pair Corr

Moving against Ready Stock

0.49	MTG	MGIC Investment Corp Earnings Call This Week	Pair Corr
0.48	BETR	Better Home Finance	Pair Corr
0.46	RDN	Radian Group	Pair Corr
0.68	GRAB	Grab Holdings Aggressive Push	Pair Corr
0.5	NIO	Nio Class A	Pair Corr
0.37	TCMFF	Telecom Argentina	Pair Corr

Related Correlations Analysis

	TRTX	RWT	WSR	ADAM	MITT	IVR	FBRT	CTO	KREF
TRTX		0.76	0.73	0.85	0.8	0.82	0.45	0.66	0.27	TRTX
RWT	0.76		0.57	0.8	0.8	0.83	0.75	0.62	0.47	RWT
WSR	0.73	0.57		0.78	0.89	0.86	0.05	0.89	-0.02	WSR
ADAM	0.85	0.8	0.78		0.86	0.94	0.37	0.69	0.16	ADAM
MITT	0.8	0.8	0.89	0.86		0.95	0.37	0.89	0.23	MITT
IVR	0.82	0.83	0.86	0.94	0.95		0.36	0.81	0.14	IVR
FBRT	0.45	0.75	0.05	0.37	0.37	0.36		0.21	0.79	FBRT
CTO	0.66	0.62	0.89	0.69	0.89	0.81	0.21		0.15	CTO
KREF	0.27	0.47	-0.02	0.16	0.23	0.14	0.79	0.15		KREF
	TRTX	RWT	WSR	ADAM	MITT	IVR	FBRT	CTO	KREF

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

IVR	+ 0.95	MITT
IVR	+ 0.94	ADAM
MITT	+ 0.89	WSR
CTO	+ 0.89	WSR
CTO	+ 0.89	MITT
IVR	+ 0.86	WSR

High negative correlations

KREF

- 0.02

WSR

Risk-Adjusted Indicators

There is a big difference between Ready Stock performing well and Ready Capital 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 Ready Capital'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
TRTX	0.85	0.05	0.03	0.14	1.10	(0.85)	1.54	(1.65)	6.00
RWT	1.39	0.05	0.03	0.12	1.46	(1.70)	3.26	(2.72)	8.72
WSR	0.94	0.22	0.13	(2.88)	0.86	(1.07)	1.91	(1.72)	10.71
ADAM	1.32	0.31	0.16	0.47	1.52	(1.53)	3.31	(1.90)	9.42
MITT	1.14	0.33	0.22	2.18	0.86	(1.43)	2.80	(1.66)	10.23
IVR	1.11	0.36	0.27	1.04	0.76	(1.36)	2.36	(1.76)	8.01
FBRT	0.94	(0.07)	0.00	(0.04)	0.00	0.00	2.09	(1.56)	4.88
CTO	0.85	0.12	0.05	5.43	0.95	(0.91)	1.73	(1.72)	4.98
KREF	1.27	(0.06)	(0.04)	0.00	1.60	(1.37)	2.66	(2.77)	6.97

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