PUBLIC STORAGE Correlations

Stocks . Germany . 
Stock . PUBLIC STORAGE PRFO
PUP0 Stock   14.60  0.10  0.69%   
The current 90-days correlation between PUBLIC STORAGE PRFO and Axfood AB is 0.05 (i.e., Significant 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.

PUBLIC STORAGE Correlation With Market

Significant diversification

The correlation between PUBLIC STORAGE PRFO and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PUBLIC STORAGE PRFO and DJI in the same portfolio, assuming nothing else is changed.
  
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 PRFO to buy it.

Moving together with PUBLIC Stock

  0.61APC Apple IncPairCorr
  0.62APC Apple IncPairCorr
  0.87MSF MicrosoftPairCorr
  0.88MSF MicrosoftPairCorr
  0.87MSF MicrosoftPairCorr
  0.87MSF MicrosoftPairCorr
  0.67USF1 OCULUS VISIONTECHPairCorr

Moving against PUBLIC Stock

  0.7QSU SCSK CorpPairCorr
  0.62DTEA Deutsche TelekomPairCorr
  0.44BDB Balta Group NVPairCorr
  0.34LFD GCM Resources Plc Earnings Call This WeekPairCorr
  0.8WAC Wacker Neuson SEPairCorr
  0.79MD1 Medistim ASAPairCorr
  0.72SYT Softing AGPairCorr
  0.66ASG Assicurazioni GeneraliPairCorr
  0.644I1 Philip Morris InternPairCorr
  0.63ADV Adtran Networks SEPairCorr
  0.63DGY DTE ENERGYPairCorr
  0.57SIA1 Singapore AirlinesPairCorr
  0.42AIR Airbus SEPairCorr
  0.415711 ANTERO MIDSTREAMPairCorr
  0.39CK0 COCA A EUROPEANPairCorr
  0.85KBX Knorr Bremse AGPairCorr
  0.79RAW Raiffeisen Bank IntePairCorr
  0.76BAYN Bayer AG NAPairCorr
  0.75NCL New China Life Earnings Call TomorrowPairCorr
  0.713B8 ShaMaran Petroleum CorpPairCorr
  0.6218LB Investment LatourPairCorr
  0.57N9U NOMURA REAL HLDG SplitPairCorr
  0.547FM FINORE MININGPairCorr

Related Correlations Analysis

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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   
TJW
+ 0.8
6C2
SL4
+ 0.78
6C2
FH0
+ 0.6
6AH
6AH
+ 0.51
AXL1
TJW
+ 0.44
SL4
6C2
+ 0.39
AXL1
  
High negative correlations   
TJW
- 0.54
0Q3
0Q3
- 0.5
AXL1
TJW
- 0.34
GIFN
SL4
- 0.32
GIFN
0Q3
- 0.28
6AH
6C2
- 0.26
GIFN

Risk-Adjusted Indicators

There is a big difference between PUBLIC 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in PUBLIC STORAGE without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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