Extra Space Storage Stock Market Value
| EXR Stock | USD 170.41 2.27 1.35% |
| Symbol | Extra |
Extra Space Storage Price To Book Ratio
Is Self-Storage REITs space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Extra Space. If investors know Extra will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Extra Space listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.05) | Dividend Share 6.48 | Earnings Share 3.75 | Revenue Per Share 15.654 | Quarterly Revenue Growth 0.12 |
The market value of Extra Space Storage is measured differently than its book value, which is the value of Extra that is recorded on the company's balance sheet. Investors also form their own opinion of Extra Space's value that differs from its market value or its book value, called intrinsic value, which is Extra Space's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Extra Space's market value can be influenced by many factors that don't directly affect Extra Space's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Extra Space's value and its price as these two are different measures arrived at by different means. Investors typically determine if Extra Space is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Extra Space's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Extra Space 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Extra Space's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Extra Space.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Extra Space on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Extra Space Storage or generate 0.0% return on investment in Extra Space over 30 days. Extra Space is related to or competes with CubeSmart, National Storage, Public Storage, EastGroup Properties, Prologis, STAG Industrial, and Americold Realty. Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a memb... More
Extra Space Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Extra Space's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Extra Space Storage upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 7.52 | |||
| Value At Risk | (2.61) | |||
| Potential Upside | 1.92 |
Extra Space Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Extra Space's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Extra Space's standard deviation. In reality, there are many statistical measures that can use Extra Space historical prices to predict the future Extra Space's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | 0.422 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Extra Space's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Extra Space Storage Backtested Returns
Extra Space Storage secures Sharpe Ratio (or Efficiency) of -0.0486, which denotes the company had a -0.0486% return per unit of risk over the last 3 months. Extra Space Storage exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Extra Space's Variance of 1.99, standard deviation of 1.41, and Mean Deviation of 1.05 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0843, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Extra Space are expected to decrease at a much lower rate. During the bear market, Extra Space is likely to outperform the market. At this point, Extra Space Storage has a negative expected return of -0.0676%. Please make sure to confirm Extra Space's treynor ratio, accumulation distribution, as well as the relationship between the Accumulation Distribution and period momentum indicator , to decide if Extra Space Storage performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.30 |
Below average predictability
Extra Space Storage has below average predictability. Overlapping area represents the amount of predictability between Extra Space time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Extra Space Storage price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current Extra Space price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 4.5 |
Extra Space Storage lagged returns against current returns
Autocorrelation, which is Extra Space stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Extra Space's stock expected returns. We can calculate the autocorrelation of Extra Space returns to help us make a trade decision. For example, suppose you find that Extra Space has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Extra Space regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Extra Space stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Extra Space stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Extra Space stock over time.
Current vs Lagged Prices |
| Timeline |
Extra Space Lagged Returns
When evaluating Extra Space's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Extra Space stock have on its future price. Extra Space autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Extra Space autocorrelation shows the relationship between Extra Space stock current value and its past values and can show if there is a momentum factor associated with investing in Extra Space Storage.
Regressed Prices |
| Timeline |
Pair Trading with Extra Space
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Extra Space position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Extra Space will appreciate offsetting losses from the drop in the long position's value.Moving together with Extra Stock
Moving against Extra Stock
| 0.76 | AKR | Acadia Realty Trust | PairCorr |
| 0.7 | UE | Urban Edge Properties | PairCorr |
| 0.64 | WELL | Welltower | PairCorr |
| 0.5 | EQIX | Equinix | PairCorr |
| 0.44 | AAT | American Assets Trust | PairCorr |
The ability to find closely correlated positions to Extra Space could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Extra Space 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 Extra Space - 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 Extra Space Storage to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Extra Space moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Extra Space Storage moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Extra Space can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Extra Stock Analysis
When running Extra Space's price analysis, check to measure Extra Space's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Extra Space is operating at the current time. Most of Extra Space's value examination focuses on studying past and present price action to predict the probability of Extra Space's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Extra Space's price. Additionally, you may evaluate how the addition of Extra Space to your portfolios can decrease your overall portfolio volatility.