National Storage Correlations
| 4GC Stock | EUR 34.71 0.91 2.55% |
The current 90-days correlation between National Storage Aff and COLUMBIA SPORTSWEAR is 0.4 (i.e., Very weak 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
Average diversification
The correlation between National Storage Affiliates and DJI is 0.19 (i.e., Average 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.
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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
| 0.81 | FG8 | Extra Space Storage | PairCorr |
| 0.89 | UK8 | CubeSmart | PairCorr |
| 0.62 | F5W | First Industrial Realty | PairCorr |
| 0.62 | KBIA | KB Financial Group | PairCorr |
| 0.76 | 2WGA | WOORI FIN GRP | PairCorr |
Moving against National Stock
| 0.4 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.37 | ECHA | Ecopetrol SA | PairCorr |
| 0.35 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.7 | EBO | Erste Group Bank | PairCorr |
| 0.64 | PL0 | Playa Hotels Resorts | PairCorr |
| 0.59 | BAK | BANKINTER ADR 2007 Earnings Call This Week | PairCorr |
| 0.56 | H4L1 | JSC Halyk bank | PairCorr |
| 0.56 | 5E1 | EVS Broadcast Equipment | PairCorr |
| 0.55 | 5UM | Genertec Universal | PairCorr |
| 0.42 | H0O | REVO INSURANCE SPA | PairCorr |
| 0.4 | 1SO | SAMS INTERNAT R | PairCorr |
| 0.38 | AG8 | Agilent Technologies | PairCorr |
| 0.78 | ESY | Easy Software AG | PairCorr |
| 0.71 | BBVA | Banco Bilbao Vizcaya | PairCorr |
| 0.66 | HKT | HK Electric Investments | PairCorr |
| 0.52 | AIR | Airbus SE | PairCorr |
Related Correlations Analysis
| 0.44 | 0.1 | -0.4 | -0.27 | 0.22 | 0.18 | JAT | ||
| 0.44 | -0.08 | -0.61 | -0.41 | 0.06 | 0.3 | FUY | ||
| 0.1 | -0.08 | 0.2 | 0.78 | 0.5 | -0.78 | CUW | ||
| -0.4 | -0.61 | 0.2 | 0.53 | -0.06 | -0.52 | 9TG | ||
| -0.27 | -0.41 | 0.78 | 0.53 | 0.44 | -0.84 | GZ3 | ||
| 0.22 | 0.06 | 0.5 | -0.06 | 0.44 | -0.32 | 8D9 | ||
| 0.18 | 0.3 | -0.78 | -0.52 | -0.84 | -0.32 | 9JD | ||
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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
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JAT | 1.16 | (0.15) | 0.00 | 1.32 | 0.00 | 2.64 | 7.22 | |||
| FUY | 1.21 | (0.07) | 0.00 | 0.59 | 0.00 | 1.92 | 12.14 | |||
| CUW | 1.03 | 0.15 | 0.10 | 0.33 | 0.86 | 3.90 | 6.94 | |||
| 9TG | 1.36 | 0.18 | 0.11 | 0.48 | 1.42 | 3.81 | 8.62 | |||
| GZ3 | 2.53 | 0.59 | 0.16 | 0.28 | 2.11 | 6.06 | 39.76 | |||
| 8D9 | 1.85 | 0.07 | 0.01 | 0.67 | 3.10 | 3.57 | 31.95 | |||
| 9JD | 2.09 | (0.49) | 0.00 | 0.80 | 0.00 | 4.11 | 21.40 |
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.Did you try this?
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