National Storage Correlations

4GC Stock

EUR 41.58 0.26 0.63%

The current 90-days correlation between National Storage Aff and RYOHIN UNSPADR1 is 0.01 (i.e., Significant diversification). The correlation of National Storage is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

National Storage Correlation With Market

Good diversification

The correlation between National Storage Affiliates and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Storage Affiliates and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to National Storage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace National Storage 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 National Storage - 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 National Storage Affiliates to buy it.

Moving together with National Stock

0.74	FG8	Extra Space Storage	Pair Corr
0.85	UK8	CubeSmart	Pair Corr
0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.67	BYRA	PT Bank Rakyat	Pair Corr
0.76	BYRA	BANK RAKYAT IND	Pair Corr

Moving against National Stock

0.34	UN3	United Natural Foods	Pair Corr
0.33	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	8SP	39O1	INVN	IUI1	VOW	RS6	RRU	XYTA	3RKU
8SP		0.25	-0.72	-0.84	0.76	-0.78	-0.58	-0.5	0.06	8SP
39O1	0.25		0.01	-0.18	0.2	-0.01	0.38	0.42	-0.27	39O1
INVN	-0.72	0.01		0.82	-0.68	0.84	0.76	0.6	-0.09	INVN
IUI1	-0.84	-0.18	0.82		-0.83	0.9	0.66	0.54	-0.05	IUI1
VOW	0.76	0.2	-0.68	-0.83		-0.8	-0.6	-0.53	0.02	VOW
RS6	-0.78	-0.01	0.84	0.9	-0.8		0.69	0.58	0.08	RS6
RRU	-0.58	0.38	0.76	0.66	-0.6	0.69		0.75	-0.46	RRU
XYTA	-0.5	0.42	0.6	0.54	-0.53	0.58	0.75		-0.31	XYTA
3RKU	0.06	-0.27	-0.09	-0.05	0.02	0.08	-0.46	-0.31		3RKU
	8SP	39O1	INVN	IUI1	VOW	RS6	RRU	XYTA	3RKU

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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

RS6	+ 0.9	IUI1
RS6	+ 0.84	INVN
IUI1	+ 0.82	INVN
VOW	+ 0.76	8SP
RRU	+ 0.76	INVN
XYTA	+ 0.75	RRU

High negative correlations

IUI1	- 0.84	8SP
VOW	- 0.83	IUI1
RS6	- 0.8	VOW
RS6	- 0.78	8SP
INVN	- 0.72	8SP
VOW	- 0.68	INVN

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Storage 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 National Storage'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
8SP	2.15	(0.05)	0.00	0.17	0.00	0.00	3.43	(4.74)	21.59
39O1	3.91	0.32	0.07	0.61	3.52	(5.55)	9.64	(5.38)	34.42
INVN	2.17	0.17	0.02	(0.67)	2.57	(2.55)	5.61	(4.98)	14.01
IUI1	1.20	0.21	0.11	0.95	1.08	(1.37)	2.87	(1.96)	10.01
VOW	1.23	(0.33)	0.00	257.58	0.00	0.00	2.12	(2.99)	9.42
RS6	1.34	0.20	0.08	0.68	1.40	(1.55)	2.94	(2.17)	13.51
RRU	1.66	0.12	0.03	0.37	2.02	(1.78)	3.66	(4.31)	10.56
XYTA	15.85	5.01	0.11	(0.69)	13.36	(69.79)	50.00	(33.33)	233.33
3RKU	1.54	0.00	0.02	0.00	1.60	(2.11)	3.31	(3.01)	8.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in National Storage 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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