Archive for December 6th, 2021
ACCRE Report, November 2021
It was a rough month for the S&P 500, but a great month for ACCRE. This was exactly the sort of roiling market for which ACCRE was designed, and it paid off handsomely.
To be specific, the S&P 500 declined 0.83% in November. Don’t get me wrong, though, we hate to see that as much as anyone. Real estate in general also took a hit — the S&P Property Index was down 2.12%. However, ACCRE was up 8.44%, the second of two very solid months of returns. Thus, a dollar invested in ACCRE at the inception would be worth $1.85 today.
Overall, the S&P continues to best ACCRE for the life of the fund, stemming from a very powerful bull run in 2021. ACCRE continues to be only partially correlated, although the monthly correlation numbers have moved into positive territory again from last month’s aberration.
| S&P 500 | |
| Average Daily Excess Return | 0.0513% |
| Standard Deviation | 1.2397% |
| Sharpe Ratio | 4.1377% |
| ACCRE | |
| Average Daily Excess Return | 0.0468% |
| Standard Deviation | 1.1758% |
| Sharpe Ratio | 3.9817% |
| Correlation (life of the fund) | 49.6285% |
| Correlation (month of November) | 39.5733% |
Best wishes to you all for a great holiday season! As always, if you have questions about this or any other real estate related topic, please don’t hesitate to reach out.
John A. Kilpatrick, Ph.D., MAI — john@greenfieldadvisors.com
From a small northwestern observatory... 