National Storage Correlations

NSA-PB Stock

22.18 0.07 0.31%

The current 90-days correlation between National Storage Aff and National Storage Affiliates is 0.34 (i.e., 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

Significant diversification

The correlation between National Storage Affiliates and DJI is 0.03 (i.e., Significant 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in National Storage Affiliates. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with National Stock

0.85	NSA-PA	National Storage Aff	Pair Corr
0.63	PSA-PS	Public Storage	Pair Corr
0.63	PSA-PR	Public Storage	Pair Corr
0.81	PSA-PG	Public Storage	Pair Corr
0.63	PSA-PF	Public Storage	Pair Corr
0.65	PSA-PK	Public Storage	Pair Corr
0.68	PSA-PJ	Public Storage	Pair Corr
0.62	PSA-PI	Public Storage	Pair Corr
0.66	PSA-PO	Public Storage	Pair Corr
0.82	REXR-PC	Rexford Industrial Realty	Pair Corr
0.75	REXR-PB	Rexford Industrial Realty	Pair Corr
0.8	IIPR-PA	Innovative Industrial	Pair Corr
0.9	LXP-PC	Lexington Realty Trust	Pair Corr
0.75	WY	Weyerhaeuser Sell-off Trend	Pair Corr
0.88	VNO-PL	Vornado Realty Trust	Pair Corr

Moving against National Stock

0.63	RC	Ready Capital Corp	Pair Corr
0.53	PW	Power REIT	Pair Corr
0.48	UK	Ucommune International	Pair Corr
0.38	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.33	AHT-PG	Ashford Hospitality Trust Downward Rally	Pair Corr

Related Correlations Analysis

	NSA-PB	NSA-PA	IIPR	ILPT	PSA-PS	PSA-PR	PSA-PQ	PSA-PH	PSA-PG	PSA-PF
NSA-PB		0.85	0.35	-0.32	0.63	0.63	0.59	0.53	0.81	0.63	NSA-PB
NSA-PA	0.85		0.43	0.02	0.68	0.72	0.69	0.52	0.82	0.74	NSA-PA
IIPR	0.35	0.43		0.44	0.83	0.8	0.82	0.45	0.67	0.79	IIPR
ILPT	-0.32	0.02	0.44		0.32	0.39	0.42	0.05	0.04	0.36	ILPT
PSA-PS	0.63	0.68	0.83	0.32		0.99	0.98	0.76	0.91	0.94	PSA-PS
PSA-PR	0.63	0.72	0.8	0.39	0.99		0.98	0.73	0.9	0.94	PSA-PR
PSA-PQ	0.59	0.69	0.82	0.42	0.98	0.98		0.73	0.89	0.94	PSA-PQ
PSA-PH	0.53	0.52	0.45	0.05	0.76	0.73	0.73		0.75	0.66	PSA-PH
PSA-PG	0.81	0.82	0.67	0.04	0.91	0.9	0.89	0.75		0.91	PSA-PG
PSA-PF	0.63	0.74	0.79	0.36	0.94	0.94	0.94	0.66	0.91		PSA-PF
	NSA-PB	NSA-PA	IIPR	ILPT	PSA-PS	PSA-PR	PSA-PQ	PSA-PH	PSA-PG	PSA-PF

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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

PSA-PR	+ 0.99	PSA-PS
PSA-PQ	+ 0.98	PSA-PS
PSA-PQ	+ 0.98	PSA-PR
PSA-PF	+ 0.94	PSA-PS
PSA-PF	+ 0.94	PSA-PR
PSA-PF	+ 0.94	PSA-PQ

High negative correlations

ILPT

- 0.32

NSA-PB

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
NSA-PB	0.58	0.10	0.01	2.46	0.38	(0.97)	2.42	(0.88)	5.51
NSA-PA	0.62	0.02	(0.06)	0.17	1.08	(0.63)	1.12	(1.06)	8.26
IIPR	1.42	(0.18)	0.00	6.30	0.00	0.00	2.47	(3.36)	13.47
ILPT	1.79	(0.41)	0.00	(4.13)	0.00	0.00	4.37	(4.43)	13.36
PSA-PS	0.61	(0.04)	0.00	(1.10)	0.00	0.00	1.09	(1.63)	3.68
PSA-PR	0.67	(0.05)	0.00	(0.36)	0.00	0.00	1.23	(1.51)	3.48
PSA-PQ	0.69	(0.06)	0.00	(1.12)	0.00	0.00	1.06	(1.97)	3.81
PSA-PH	0.35	(0.02)	0.00	(0.29)	0.00	0.00	0.68	(0.80)	2.04
PSA-PG	0.50	(0.02)	0.00	(0.10)	0.00	0.00	1.15	(1.04)	2.85
PSA-PF	0.38	(0.07)	0.00	(0.33)	0.00	0.00	0.73	(0.94)	2.07

National Storage Corporate Management

Tiffany Kenyon	Chief VP	Profile
CPA BA	Executive Chairperson	Profile
George CFA	Vice Relations	Profile
Pam Valentine	Senior Operations	Profile

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