Please read article about Dundee International Reit for reference.
Because almost all assets of Dundee International Reit are denominated in Euro one would expect a negative correlation between its share price and CAD/EUR all else even. As the charts above show this isn't the case. Although one has to take into account the normal share price fluctuation. Dundee gets more and more attractive as the loonie depreciates. I will increase my long position if the valuation in EUR drops by more than 15%, which I view as pretty much for German real estate.