From a small northwestern observatory…

Finance and economics generally focused on real estate

ACCRE Report, November 2021

leave a comment »

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 Return0.0513%
Standard Deviation1.2397%
Sharpe Ratio4.1377%
ACCRE
Average Daily Excess Return0.0468%
Standard Deviation1.1758%
Sharpe Ratio3.9817%
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

Written by johnkilpatrick

December 6, 2021 at 3:56 pm

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: