SmartStop Self Correlations

SMA Stock

31.92 0.16 0.50%

The current 90-days correlation between SmartStop Self Storage and Diversified Healthcare Trust is 0.07 (i.e., Significant diversification). The correlation of SmartStop Self 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.

SmartStop Self Correlation With Market

Very good diversification

The correlation between SmartStop Self Storage and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SmartStop Self Storage and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SmartStop Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SmartStop Self 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 board of governors.

Moving together with SmartStop Stock

0.69	EXR	Extra Space Storage	Pair Corr
0.85	PSA	Public Storage	Pair Corr
0.82	OPINL	Office Properties Income	Pair Corr

Moving against SmartStop Stock

0.76	TUXS	Tuxis	Pair Corr
0.66	SPG	Simon Property Group	Pair Corr
0.61	FSLY	Fastly Class A	Pair Corr
0.6	RCUS	Arcus Biosciences	Pair Corr
0.59	DNTH	Dianthus Therapeutics	Pair Corr
0.52	TER	Teradyne	Pair Corr
0.51	PHVS	Pharvaris BV	Pair Corr
0.51	SMEGF	Siemens Energy AG	Pair Corr
0.47	CNLHP	Connecticut Light	Pair Corr
0.38	CCAJ	Coastal Capital Acq	Pair Corr
0.38	JPPHY	Japan Post Holdings	Pair Corr
0.33	DECAU	Denali Capital Acqui	Pair Corr
0.33	SVKEF	Skandinaviska Enskilda Earnings Call This Week	Pair Corr
0.81	NFPDF	Nissin Foods Holdings	Pair Corr
0.78	AIZ	Assurant	Pair Corr
0.66	MGIC	Magic Software Enter	Pair Corr
0.59	M	Macys Inc	Pair Corr
0.57	FNWD	Finward Bancorp Earnings Call This Week	Pair Corr
0.53	CWBK	CommerceWest Bank	Pair Corr
0.43	GNL	Global Net Lease	Pair Corr
0.41	TORO	Toro	Pair Corr
0.4	FRMEP	First Merchants Earnings Call This Week	Pair Corr
0.38	IQV	IQVIA Holdings	Pair Corr

Related Correlations Analysis

	SCCE	DHC	PURZX	TRREX	MGLAX	FARCX	REACX	REAIX	TFSA	TCREX
SCCE		0.93	0.31	0.74	0.23	0.68	-0.14	-0.13	0.86	-0.3	SCCE
DHC	0.93		0.41	0.72	0.25	0.7	-0.01	0.01	0.83	-0.19	DHC
PURZX	0.31	0.41		0.67	0.86	0.81	0.8	0.81	0.28	0.57	PURZX
TRREX	0.74	0.72	0.67		0.6	0.97	0.3	0.31	0.76	0.04	TRREX
MGLAX	0.23	0.25	0.86	0.6		0.7	0.63	0.64	0.2	0.71	MGLAX
FARCX	0.68	0.7	0.81	0.97	0.7		0.47	0.48	0.68	0.19	FARCX
REACX	-0.14	-0.01	0.8	0.3	0.63	0.47		1.0	-0.16	0.74	REACX
REAIX	-0.13	0.01	0.81	0.31	0.64	0.48	1.0		-0.14	0.74	REAIX
TFSA	0.86	0.83	0.28	0.76	0.2	0.68	-0.16	-0.14		-0.33	TFSA
TCREX	-0.3	-0.19	0.57	0.04	0.71	0.19	0.74	0.74	-0.33		TCREX
	SCCE	DHC	PURZX	TRREX	MGLAX	FARCX	REACX	REAIX	TFSA	TCREX

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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

REAIX	+ 1.0	REACX
FARCX	+ 0.97	TRREX
DHC	+ 0.93	SCCE
TFSA	+ 0.86	SCCE
MGLAX	+ 0.86	PURZX
TFSA	+ 0.83	DHC

High negative correlations

TCREX	- 0.33	TFSA
TCREX	- 0.3	SCCE
TCREX	- 0.19	DHC
TFSA	- 0.16	REACX
TFSA	- 0.14	REAIX
REACX	- 0.14	SCCE

Risk-Adjusted Indicators

There is a big difference between SmartStop Stock performing well and SmartStop Self 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 SmartStop Self'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
SCCE	0.35	0.07	0.01	(1.44)	0.35	(0.37)	0.85	(0.85)	2.23
DHC	1.83	0.48	0.17	15.72	1.88	(2.21)	4.38	(3.89)	12.30
PURZX	0.43	(0.02)	(0.09)	0.00	0.69	(0.40)	0.80	(1.04)	2.84
TRREX	0.66	0.01	(0.04)	0.10	0.85	(0.72)	1.21	(1.61)	7.13
MGLAX	0.44	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.99)	2.70
FARCX	0.58	0.00	(0.05)	0.07	0.87	(0.55)	1.21	(1.46)	5.00
REACX	0.54	(0.06)	0.00	(0.10)	0.00	0.00	0.91	(1.39)	3.31
REAIX	0.54	(0.06)	0.00	(0.09)	0.00	0.00	0.87	(1.39)	3.30
TFSA	0.40	0.04	(0.03)	(1.04)	0.52	(0.57)	1.10	(1.15)	3.90
TCREX	0.55	(0.04)	0.00	(0.99)	0.00	0.00	0.80	(1.34)	3.18

SmartStop Self Corporate Management

Michael CPA	Chief Officer	Profile
Nicholas Look	General Officer	Profile
Gerald Valle	Senior Operations	Profile
Joseph Robinson	Chief Officer	Profile
Michael Terjung	Chief Officer	Profile

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