National Storage Correlations

NTSGF Stock

1.44 0.06 4.00%

The current 90-days correlation between National Storage REIT and Merit Medical Systems is 0.05 (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 REIT and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Storage REIT 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 REIT to buy it.

Moving against National Pink Sheet

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0.32	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	MMSI	LECO	FKWL	ACCO	UBER	WDC	DEI	ALVO
MMSI		0.79	-0.15	0.81	-0.16	0.45	0.38	-0.54	MMSI
LECO	0.79		-0.52	0.82	0.29	0.7	0.56	-0.68	LECO
FKWL	-0.15	-0.52		-0.3	-0.43	-0.39	-0.46	0.57	FKWL
ACCO	0.81	0.82	-0.3		-0.2	0.4	0.59	-0.76	ACCO
UBER	-0.16	0.29	-0.43	-0.2		0.49	-0.09	0.07	UBER
WDC	0.45	0.7	-0.39	0.4	0.49		0.43	-0.42	WDC
DEI	0.38	0.56	-0.46	0.59	-0.09	0.43		-0.69	DEI
ALVO	-0.54	-0.68	0.57	-0.76	0.07	-0.42	-0.69		ALVO
	MMSI	LECO	FKWL	ACCO	UBER	WDC	DEI	ALVO

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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

ACCO	+ 0.82	LECO
ACCO	+ 0.81	MMSI
LECO	+ 0.79	MMSI
WDC	+ 0.7	LECO
DEI	+ 0.59	ACCO
ALVO	+ 0.57	FKWL

High negative correlations

ALVO	- 0.76	ACCO
ALVO	- 0.69	DEI
ALVO	- 0.68	LECO
ALVO	- 0.54	MMSI
FKWL	- 0.52	LECO
DEI	- 0.46	FKWL

Risk-Adjusted Indicators

There is a big difference between National Pink Sheet 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
MMSI	0.98	0.13	0.10	0.30	1.01	(1.07)	2.38	(2.02)	7.20
LECO	1.33	0.03	0.01	0.08	1.38	(1.57)	3.00	(2.12)	10.97
FKWL	1.34	0.21	0.09	(4.95)	1.74	(1.48)	3.61	(2.35)	9.99
ACCO	1.81	0.03	0.01	0.07	1.88	(2.36)	4.87	(3.25)	11.94
UBER	1.60	(0.27)	0.00	(3.51)	0.00	0.00	2.67	(5.35)	12.29
WDC	1.86	0.02	0.00	0.06	2.26	(1.91)	4.52	(3.20)	11.34
DEI	1.68	(0.09)	0.00	(0.12)	0.00	0.00	2.77	(4.39)	11.24
ALVO	1.17	0.11	0.06	(0.78)	1.38	(1.25)	3.15	(2.22)	7.81

National Storage Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with National Storage pink sheet to make a market-neutral strategy. Peer analysis of National Storage could also be used in its relative valuation, which is a method of valuing National Storage by comparing valuation metrics with similar companies.

Merit Medical Systems Lincoln Electric Holdings Franklin Wireless Corp Acco Brands Uber Technologies Western Digital Douglas Emmett Alvotech American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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