Extra Space Correlations
| EXR Stock | USD 152.75 6.66 4.56% |
The current 90-days correlation between Extra Space Storage and Realty Income is 0.5 (i.e., Very weak diversification). The correlation of Extra Space 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Extra Space Correlation With Market
Poor diversification
The correlation between Extra Space Storage and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extra Space Storage and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Extra Stock
| 0.96 | NSA | National Storage Aff Earnings Call This Week | PairCorr |
| 0.92 | PSA | Public Storage | PairCorr |
| 0.96 | CUBE | CubeSmart | PairCorr |
| 0.64 | BIMT | Bitmis Corp Potential Growth | PairCorr |
| 0.7 | MDVT | Middlebury National | PairCorr |
| 0.71 | IDXG | Interpace Biosciences | PairCorr |
| 0.81 | DD | Dupont De Nemours | PairCorr |
| 0.7 | HRZN | Horizon Technology Earnings Call This Week | PairCorr |
| 0.82 | ABEV | Ambev SA ADR | PairCorr |
| 0.74 | SOME | Somerset Trust Holding | PairCorr |
| 0.8 | MCCK | Mestek Inc | PairCorr |
| 0.86 | EPR | EPR Properties Earnings Call This Week | PairCorr |
| 0.73 | SYY | Sysco | PairCorr |
| 0.88 | TGT | Target | PairCorr |
| 0.79 | WTTR | Select Energy Services | PairCorr |
Moving against Extra Stock
| 0.64 | OPINL | Office Properties Income | PairCorr |
| 0.52 | STI | Solidion Technology Upward Rally | PairCorr |
| 0.46 | PNGM | Er Therapeutics | PairCorr |
| 0.33 | GTEH | Gentech Holdings | PairCorr |
Related Correlations Analysis
| 0.84 | -0.15 | 0.89 | -0.32 | -0.6 | O | ||
| 0.84 | -0.11 | 0.75 | -0.41 | -0.64 | SPG | ||
| -0.15 | -0.11 | -0.35 | -0.45 | 0.41 | CBRE | ||
| 0.89 | 0.75 | -0.35 | -0.15 | -0.66 | DLR | ||
| -0.32 | -0.41 | -0.45 | -0.15 | 0.15 | CCI | ||
| -0.6 | -0.64 | 0.41 | -0.66 | 0.15 | REXR | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Extra Stock performing well and Extra Space 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 Extra Space'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| O | 0.79 | 0.00 | 0.17 | 0.00 | 0.80 | 1.63 | 3.95 | |||
| SPG | 0.83 | 0.13 | 0.11 | 0.37 | 0.67 | 2.63 | 5.00 | |||
| CBRE | 1.50 | (0.16) | 0.00 | (0.03) | 0.00 | 3.44 | 15.83 | |||
| DLR | 1.08 | 0.13 | 0.08 | 0.32 | 1.14 | 2.59 | 6.38 | |||
| CCI | 1.36 | (0.10) | 0.00 | (0.04) | 0.00 | 2.39 | 11.38 | |||
| REXR | 1.19 | (0.17) | 0.00 | (0.14) | 0.00 | 2.08 | 9.72 |