Extra Space (Brazil) Market Value
| E1XR34 Stock | BRL 260.97 5.22 2.04% |
| Symbol | Extra |
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.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in Extra Space on December 7, 2023 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 360 days. Extra Space is related to or competes with BTG Pactual, Fras Le, Western Digital, Energisa, Procter Gamble, Companhia Paranaense, and Randon SA. 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.
| Downside Deviation | 3.31 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 12.39 | |||
| Value At Risk | (3.74) | |||
| Potential Upside | 3.65 |
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 | 0.0438 | |||
| Jensen Alpha | 0.0621 | |||
| Total Risk Alpha | (0.27) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.3504 |
Extra Space Storage Backtested Returns
At this point, Extra Space is very steady. Extra Space Storage secures Sharpe Ratio (or Efficiency) of 0.0428, which denotes the company had a 0.0428% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Extra Space Storage, which you can use to evaluate the volatility of the firm. Please confirm Extra Space's Coefficient Of Variation of 2050.4, downside deviation of 3.31, and Mean Deviation of 1.29 to check if the risk estimate we provide is consistent with the expected return of 0.0959%. Extra Space has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.28, which means not very significant fluctuations relative to the market. As returns on the market increase, Extra Space's returns are expected to increase less than the market. However, during the bear market, the loss of holding Extra Space is expected to be smaller as well. Extra Space Storage right now shows a risk of 2.24%. Please confirm Extra Space Storage total risk alpha, treynor ratio, value at risk, as well as the relationship between the sortino ratio and maximum drawdown , to decide if Extra Space Storage will be following its price patterns.
Auto-correlation | -0.33 |
Poor reverse predictability
Extra Space Storage has poor reverse predictability. Overlapping area represents the amount of predictability between Extra Space time series from 7th of December 2023 to 4th of June 2024 and 4th of June 2024 to 1st of December 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 -0.33 indicates that nearly 33.0% of current Extra Space price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.33 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 237.36 |
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 |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Extra Stock
When determining whether Extra Space Storage is a strong investment it is important to analyze Extra Space's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Extra Space's future performance. For an informed investment choice regarding Extra Stock, refer to the following important reports:Check out Extra Space Correlation, Extra Space Volatility and Extra Space Alpha and Beta module to complement your research on Extra Space. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Extra Space technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.