Public Storage Correlations
| PSA-P-S Preferred Stock | 17.19 0.08 0.46% |
The current 90-days correlation between Public Storage DEP and Legacy Education is -0.23 (i.e., Very good 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Public Storage Correlation With Market
Modest diversification
The correlation between Public Storage DEP and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Storage DEP and DJI in the same portfolio, assuming nothing else is changed.
Public |
The ability to find closely correlated positions to Public 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 Public 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 Public 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 Public Storage DEP to buy it.
Moving together with Public Preferred Stock
Moving against Public Preferred Stock
| 0.95 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.91 | TWLO | Twilio Inc | PairCorr |
| 0.9 | KRMD | Repro Med Systems | PairCorr |
| 0.89 | AMZN | Amazon Inc | PairCorr |
| 0.89 | NVEI | Nuvei Corp | PairCorr |
| 0.89 | LUNR | Intuitive Machines Trending | PairCorr |
| 0.87 | CLBT | Cellebrite DI | PairCorr |
| 0.85 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.82 | LGCY | Legacy Education | PairCorr |
| 0.81 | ASHXF | Progressive Planet | PairCorr |
| 0.79 | AAPL | Apple Inc Aggressive Push | PairCorr |
| 0.78 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.7 | NXL | Nexalin Technology | PairCorr |
| 0.7 | CMI | Cummins | PairCorr |
| 0.7 | RNGR | Ranger Energy Services | PairCorr |
| 0.68 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.63 | RMRHF | Rand Merchant Investment | PairCorr |
| 0.61 | MSFT | Microsoft | PairCorr |
| 0.61 | HNDI | Handeni Gold | PairCorr |
| 0.6 | BSPA | Ballston Spa Bancorp | PairCorr |
| 0.59 | RELL | Richardson Electronics | PairCorr |
| 0.47 | META | Meta Platforms | PairCorr |
| 0.44 | SFIO | Starfleet Innotech | PairCorr |
| 0.89 | CCRD | CoreCard Corp | PairCorr |
| 0.88 | FDUS | Fidus Investment Corp | PairCorr |
| 0.87 | LQR | LQR House Common Symbol Change | PairCorr |
| 0.85 | SRAD | Sportradar Group | PairCorr |
| 0.82 | GRRR | Gorilla Technology Trending | PairCorr |
| 0.78 | TECX | Tectonic Therapeutic, Symbol Change | PairCorr |
| 0.77 | NBTB | NBT Bancorp Fiscal Year End 28th of January 2025 | PairCorr |
| 0.74 | SONY | Sony Group Corp | PairCorr |
| 0.74 | HTLFP | Heartland Financial USA | PairCorr |
| 0.73 | UNTY | Unity Bancorp Fiscal Year End 10th of January 2025 | PairCorr |
| 0.73 | GS | Goldman Sachs Group Fiscal Year End 21st of January 2025 | PairCorr |
| 0.72 | QNCCF | Quantum eMotion | PairCorr |
| 0.67 | SSBK | Southern States Banc | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Public Preferred 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LGCY | 3.53 | 1.19 | 0.28 | 0.70 | 3.19 | 10.85 | 23.25 | |||
| AAPL | 0.84 | 0.18 | 0.12 | 9.78 | 1.01 | 1.84 | 5.20 | |||
| NVDA | 1.85 | 0.16 | 0.07 | 0.35 | 2.18 | 4.05 | 9.07 | |||
| MSFT | 0.87 | 0.00 | (0.02) | 0.02 | 1.65 | 1.78 | 8.14 | |||
| AMZN | 1.41 | 0.24 | 0.12 | (1.34) | 1.59 | 2.94 | 10.78 | |||
| GOOG | 1.31 | 0.28 | 0.15 | (0.81) | 1.48 | 3.54 | 8.99 | |||
| BMYMP | 1.61 | 0.51 | 0.09 | (3.17) | 1.57 | 7.23 | 22.13 | |||
| META | 1.21 | 0.08 | 0.04 | 0.42 | 1.41 | 2.62 | 7.43 |
Public 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 Public Storage preferred stock to make a market-neutral strategy. Peer analysis of Public Storage could also be used in its relative valuation, which is a method of valuing Public Storage by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |