Vornado Realty Correlations

VNO-PM Preferred Stock

USD 17.60 0.13 0.74%

The current 90-days correlation between Vornado Realty Trust and SL Green Realty is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Vornado Realty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Vornado Realty Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Vornado Realty Correlation With Market

Modest diversification

The correlation between Vornado Realty Trust 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 Vornado Realty Trust and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Vornado Realty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Vornado Realty when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Vornado Realty - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Vornado Realty Trust to buy it.

Moving together with Vornado Preferred Stock

0.92	VNO-PL	Vornado Realty Trust	Pair Corr
0.98	VNO-PN	Vornado Realty Trust	Pair Corr
0.96	VNO-PO	Vornado Realty Trust	Pair Corr
0.89	HPP-PC	Hudson Pacific Properties	Pair Corr
0.75	EQC-PD	Equity Commonwealth	Pair Corr
0.91	SLG-PI	SL Green Realty	Pair Corr
0.63	WY	Weyerhaeuser Sell-off Trend	Pair Corr
0.86	MITT-PA	AG Mortgage Investment	Pair Corr
0.86	MITT-PB	AG Mortgage Investment	Pair Corr
0.82	MITT-PC	AG Mortgage Investment	Pair Corr
0.64	EPRT	Essential Properties Sell-off Trend	Pair Corr
0.8	EQIX	Equinix	Pair Corr
0.66	WELL	Welltower	Pair Corr

Moving against Vornado Preferred Stock

0.78	RC	Ready Capital Corp	Pair Corr
0.58	UK	Ucommune International	Pair Corr
0.46	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.46	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.43	PW	Power REIT	Pair Corr
0.39	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.38	FR	First Industrial Realty	Pair Corr
0.51	AHT-PG	Ashford Hospitality Trust Downward Rally	Pair Corr
0.47	VTMX	Corporacin Inmobiliaria	Pair Corr
0.47	ECRO	Ecc Cap Corp	Pair Corr

Related Correlations Analysis

	SLG-PI	VNO-PO	CIO-PA	EQC-PD	VNO-PL	HPP-PC
SLG-PI		0.91	-0.13	0.7	0.9	0.87	SLG-PI
VNO-PO	0.91		-0.18	0.71	0.93	0.91	VNO-PO
CIO-PA	-0.13	-0.18		-0.65	0.01	-0.32	CIO-PA
EQC-PD	0.7	0.71	-0.65		0.54	0.76	EQC-PD
VNO-PL	0.9	0.93	0.01	0.54		0.79	VNO-PL
HPP-PC	0.87	0.91	-0.32	0.76	0.79		HPP-PC
	SLG-PI	VNO-PO	CIO-PA	EQC-PD	VNO-PL	HPP-PC

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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

VNO-PL	+ 0.93	VNO-PO
VNO-PO	+ 0.91	SLG-PI
HPP-PC	+ 0.91	VNO-PO
VNO-PL	+ 0.9	SLG-PI
HPP-PC	+ 0.87	SLG-PI
HPP-PC	+ 0.79	VNO-PL

High negative correlations

EQC-PD	- 0.65	CIO-PA
HPP-PC	- 0.32	CIO-PA
CIO-PA	- 0.18	VNO-PO
CIO-PA	- 0.13	SLG-PI

Risk-Adjusted Indicators

There is a big difference between Vornado Preferred Stock performing well and Vornado Realty 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 Vornado Realty'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
SLG-PI	0.65	0.10	0.05	0.42	0.56	(0.76)	1.37	(1.24)	4.16
VNO-PO	0.82	0.09	0.04	0.31	0.85	(0.88)	2.00	(1.77)	5.95
CIO-PA	0.92	0.00	(0.07)	0.09	0.95	(1.15)	2.13	(1.64)	9.95
EQC-PD	0.14	0.01	(0.33)	0.62	0.09	(0.17)	0.32	(0.32)	0.93
VNO-PL	0.84	0.05	(0.01)	0.22	0.69	(1.19)	1.95	(1.22)	6.09
HPP-PC	1.42	0.23	0.07	0.74	2.19	(1.40)	3.35	(3.31)	11.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in Vornado Realty without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Vornado Realty Corporate Management

Barry Langer	Exec Estate	Profile
Robert Entin	Chief VP	Profile
Deirdre Maddock	VP Officer	Profile
Haim Chera	Ex Retail	Profile
Robert Larson	VP Operations	Profile
Steven Roth	Chairman CEO	Profile
Glen Weiss	Ex Estate	Profile

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