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MAA vs CPT · data through Oct 2, 2026

On none of the 19 forces measured do MAA and CPT differ by more than the noise in the readings: their 90% ranges overlap every time.

MAACPTBars: 90% ranges. Hollow: could not be told apart from zero.Same figures in the table below.
Economic forceMAAMid-America Apartment CommunitiesCPTCamden Property Trust
Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points−2.7%−3.7% to −1.6%Clear−3.2%−4.0% to −2.5%Clear
Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points+4.2%+1.8% to +6.6%Clear+3.6%+1.4% to +5.7%Clear
U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2%+0.65%−0.48% to +1.8%Not distinguishable from zero+0.91%−0.09% to +1.9%Not distinguishable from zero
Oil and energyIn weeks when the price of oil rose 10%−0.52%−1.0% to −0.08%Tentative−0.14%−0.58% to +0.31%Not distinguishable from zero
Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points+0.38%−1.9% to +2.6%Not distinguishable from zero−0.31%−2.6% to +2.0%Not distinguishable from zero
Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points−0.37%−1.9% to +1.1%Not distinguishable from zero−0.12%−1.7% to +1.4%Not distinguishable from zero
Market volatilityIn weeks when market volatility (the VIX) rose 5 points−0.50%−1.5% to +0.46%Not distinguishable from zero−0.92%−1.9% to +0.04%Not distinguishable from zero
Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points−0.91%−1.9% to +0.09%Not distinguishable from zero−0.63%−1.6% to +0.35%Not distinguishable from zero
GoldIn weeks when the price of gold rose 5%−0.20%−0.93% to +0.53%Not distinguishable from zero−0.61%−1.4% to +0.20%Not distinguishable from zero
CopperIn weeks when the price of copper rose 5%+0.15%−0.65% to +1.0%Not distinguishable from zero+0.14%−0.60% to +0.88%Not distinguishable from zero
Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10%0.00%−0.01% to +0.01%Not distinguishable from zero−0.01%−0.02% to 0.00%Not distinguishable from zero
BitcoinIn weeks when the price of bitcoin rose 10%−0.62%−1.4% to +0.17%Not distinguishable from zero−0.63%−1.4% to +0.15%Not distinguishable from zero
Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point+0.26%+0.04% to +0.47%Tentative+0.35%+0.14% to +0.55%Tentative
Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point+0.58%+0.34% to +0.81%Clear+0.67%+0.44% to +0.91%Clear
MomentumIn weeks when recent winners beat the stock market by 1 percentage point−0.29%−0.48% to −0.09%Tentative−0.27%−0.48% to −0.06%Tentative
EuroIn weeks when the euro rose 2% against the U.S. dollar−1.0%−2.5% to +0.56%Not distinguishable from zero−1.3%−3.0% to +0.38%Not distinguishable from zero
Japanese yenIn weeks when the yen rose 2% against the U.S. dollar+0.90%+0.40% to +1.4%Tentative+0.84%+0.33% to +1.4%Tentative
Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point−0.38%−0.62% to −0.14%Tentative−0.27%−0.55% to 0.00%Not distinguishable from zero
ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point+0.07%−0.10% to +0.25%Not distinguishable from zero+0.10%−0.06% to +0.26%Not distinguishable from zero
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.

This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.

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