National Storage Correlations

NTSGF Stock

1.32 0.00 0.00%

The current 90-days correlation between National Storage REIT and Apple Inc is 0.01 (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

Significant diversification

The correlation between National Storage REIT and DJI is 0.04 (i.e., Significant 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 together with National Pink Sheet

0.63	AAPL	Apple Inc	Pair Corr
0.8	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.8	NVDA	NVIDIA	Pair Corr
0.86	AMZN	Amazon Inc	Pair Corr
0.85	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.69	META	Meta Platforms Earnings Call This Week	Pair Corr
0.62	BA	Boeing Earnings Call This Week	Pair Corr
0.81	BAC	Bank of America	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.71	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.7	WMT	Walmart Aggressive Push	Pair Corr
0.88	HD	Home Depot	Pair Corr

Moving against National Pink Sheet

0.82	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.81	BRK-A	Berkshire Hathaway	Pair Corr
0.71	KO	Coca Cola Sell-off Trend	Pair Corr
0.68	MCD	McDonalds	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.61	BYDDY	BYD Co	Pair Corr
0.52	JNJ	Johnson Johnson	Pair Corr
0.48	BMYMP	Bristol Myers Squibb	Pair Corr

Related Correlations Analysis

	AAPL	MSFT	NVDA	BMYMP	AMZN	GOOG	META	BRK-A
AAPL		0.61	0.66	-0.34	0.74	0.67	0.83	-0.43	AAPL
MSFT	0.61		0.84	-0.36	0.89	0.92	0.63	-0.73	MSFT
NVDA	0.66	0.84		-0.37	0.81	0.79	0.68	-0.64	NVDA
BMYMP	-0.34	-0.36	-0.37		-0.29	-0.35	-0.22	0.39	BMYMP
AMZN	0.74	0.89	0.81	-0.29		0.96	0.87	-0.77	AMZN
GOOG	0.67	0.92	0.79	-0.35	0.96		0.74	-0.83	GOOG
META	0.83	0.63	0.68	-0.22	0.87	0.74		-0.54	META
BRK-A	-0.43	-0.73	-0.64	0.39	-0.77	-0.83	-0.54		BRK-A
	AAPL	MSFT	NVDA	BMYMP	AMZN	GOOG	META	BRK-A

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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

GOOG	+ 0.96	AMZN
GOOG	+ 0.92	MSFT
AMZN	+ 0.89	MSFT
META	+ 0.87	AMZN
NVDA	+ 0.84	MSFT
META	+ 0.83	AAPL

High negative correlations

BRK-A	- 0.83	GOOG
BRK-A	- 0.77	AMZN
BRK-A	- 0.73	MSFT
BRK-A	- 0.64	NVDA
BRK-A	- 0.54	META
BRK-A	- 0.43	AAPL

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
AAPL	2.02	(0.08)	0.00	(0.14)	0.00	0.00	3.18	(4.85)	19.57
MSFT	1.37	(0.07)	0.00	(0.16)	0.00	0.00	2.91	(3.34)	12.47
NVDA	3.41	(0.08)	0.00	(0.13)	0.00	0.00	5.27	(7.81)	24.64
BMYMP	2.62	(0.04)	0.00	(0.43)	0.00	0.00	7.23	(10.14)	32.90
AMZN	1.90	(0.18)	0.00	(0.22)	0.00	0.00	2.49	(4.15)	17.15
GOOG	1.83	(0.20)	0.00	(0.28)	0.00	0.00	2.59	(4.03)	13.41
META	2.14	(0.10)	0.00	(0.16)	0.00	0.00	2.96	(4.67)	21.50
BRK-A	1.08	0.30	0.19	0.30	1.46	(1.17)	2.50	(1.57)	10.54

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.

Apple Inc Microsoft NVIDIA Bristol Myers Squibb Amazon Inc Alphabet Inc Class C Meta Platforms Berkshire Hathaway American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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