Public Storage Correlations

PSA Stock

USD 270.32 9.42 3.61%

The current 90-days correlation between Public Storage and Extra Space Storage is 0.86 (i.e., Very poor diversification). The correlation of Public 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.

Public Storage Correlation With Market

Weak diversification

The correlation between Public Storage and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Storage and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Public Storage. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For information on how to trade Public Stock refer to our How to Trade Public Stock guide.

Moving together with Public Stock

0.95	EXR	Extra Space Storage	Pair Corr
0.93	SMA	SmartStop Self Storage	Pair Corr
0.85	OPINL	Office Properties Income	Pair Corr
0.71	GOOD	Gladstone Commercial	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.71	MSFT	Microsoft	Pair Corr
0.68	PG	Procter Gamble	Pair Corr

Moving against Public Stock

0.81	FTV	Fortive Corp	Pair Corr
0.78	TUXS	Tuxis	Pair Corr
0.69	AMPH	Amphastar P	Pair Corr
0.69	MMSI	Merit Medical Systems	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.64	AXP	American Express	Pair Corr
0.35	PFE	Pfizer Inc	Pair Corr
0.87	DD	Dupont De Nemours	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.76	XOM	Exxon Mobil Corp	Pair Corr
0.74	MRK	Merck Company	Pair Corr
0.72	CAT	Caterpillar	Pair Corr
0.68	BAC	Bank of America Earnings Call Next Week	Pair Corr
0.61	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.6	IBM	International Business	Pair Corr
0.58	AA	Alcoa Corp	Pair Corr
0.36	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	EXR	O	SPG	CBRE	DLR	CCI	REXR
EXR		0.82	-0.53	0.17	0.67	0.9	0.66	EXR
O	0.82		-0.43	0.38	0.47	0.74	0.57	O
SPG	-0.53	-0.43		0.52	-0.74	-0.6	-0.47	SPG
CBRE	0.17	0.38	0.52		-0.34	-0.03	-0.03	CBRE
DLR	0.67	0.47	-0.74	-0.34		0.73	0.56	DLR
CCI	0.9	0.74	-0.6	-0.03	0.73		0.61	CCI
REXR	0.66	0.57	-0.47	-0.03	0.56	0.61		REXR
	EXR	O	SPG	CBRE	DLR	CCI	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

CCI	+ 0.9	EXR
O	+ 0.82	EXR
CCI	+ 0.74	O
CCI	+ 0.73	DLR
DLR	+ 0.67	EXR
REXR	+ 0.66	EXR

High negative correlations

DLR	- 0.74	SPG
CCI	- 0.6	SPG
SPG	- 0.53	EXR
REXR	- 0.47	SPG
SPG	- 0.43	O
DLR	- 0.34	CBRE

Risk-Adjusted Indicators

There is a big difference between Public Stock performing well and Public 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 Public 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
EXR	1.09	(0.11)	0.00	(0.06)	0.00	0.00	2.44	(1.95)	7.04
O	0.77	(0.09)	0.00	(0.13)	0.00	0.00	1.31	(1.72)	4.71
SPG	0.77	(0.01)	(0.06)	0.06	0.98	(0.83)	1.59	(1.68)	4.95
CBRE	1.05	0.07	0.05	0.16	1.23	(1.25)	2.43	(1.54)	6.84
DLR	1.15	(0.21)	0.00	(0.24)	0.00	0.00	2.16	(3.27)	6.20
CCI	0.99	(0.16)	0.00	(0.26)	0.00	0.00	1.72	(2.39)	5.88
REXR	1.08	(0.16)	0.00	(0.09)	0.00	0.00	2.30	(1.96)	5.41

Public Storage Corporate Management

Gary Pruitt	Lead Independent Trustee	Profile
Michelle MillstoneShroff	Independent Trustee	Profile
Avedick Poladian	Independent Trustee	Profile
Leslie Heisz	Independent Trustee	Profile
Tamara Gustavson	Trustee	Profile

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