SBA Communications Correlations

SBAC Stock

USD 214.31 4.38 2.00%

The current 90-days correlation between SBA Communications Corp and Digital Realty Trust is 0.03 (i.e., Significant diversification). The correlation of SBA Communications 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.

SBA Communications Correlation With Market

Modest diversification

The correlation between SBA Communications Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SBA Communications Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SBA Communications Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with SBA Stock

0.88	O	Realty Income	Pair Corr
0.75	FR	First Industrial Realty	Pair Corr
0.94	VICI	VICI Properties	Pair Corr
0.9	ELME	Elme Communities	Pair Corr
0.78	WELL	Welltower	Pair Corr
0.81	FCPT	Four Corners Property	Pair Corr
0.86	ADC	Agree Realty	Pair Corr
0.61	AHR	American Healthcare REIT,	Pair Corr
0.94	ALX	Alexanders	Pair Corr
0.96	AMT	American Tower Corp	Pair Corr
0.88	BNL	Broadstone Net Lease	Pair Corr
0.61	BRT	BRT Realty Trust	Pair Corr
0.84	CCI	Crown Castle	Pair Corr

Moving against SBA Stock

0.8	PK	Park Hotels Resorts	Pair Corr
0.73	ESBA	Empire State Realty	Pair Corr
0.72	ESRT	Empire State Realty	Pair Corr
0.71	FISK	Empire State Realty	Pair Corr
0.67	WHLR	Wheeler Real Estate	Pair Corr
0.63	EQIX	Equinix	Pair Corr
0.59	PW	Power REIT Earnings Call This Week	Pair Corr
0.41	UE	Urban Edge Properties	Pair Corr
0.36	Z	Zillow Group Class Sell-off Trend	Pair Corr
0.74	AHH	Armada Hflr Pr	Pair Corr
0.74	BDN	Brandywine Realty Trust	Pair Corr
0.7	AAT	American Assets Trust	Pair Corr
0.52	BXP	Boston Properties	Pair Corr
0.39	AKR	Acadia Realty Trust	Pair Corr
0.76	DLR	Digital Realty Trust	Pair Corr
0.75	DRH	Diamondrock Hospitality	Pair Corr

Related Correlations Analysis

	AMT	DLR	EQIX	IRM	CCI	HASI
AMT		-0.82	-0.74	-0.79	0.87	0.81	AMT
DLR	-0.82		0.81	0.9	-0.63	-0.73	DLR
EQIX	-0.74	0.81		0.75	-0.72	-0.59	EQIX
IRM	-0.79	0.9	0.75		-0.62	-0.69	IRM
CCI	0.87	-0.63	-0.72	-0.62		0.68	CCI
HASI	0.81	-0.73	-0.59	-0.69	0.68		HASI
	AMT	DLR	EQIX	IRM	CCI	HASI

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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

IRM	+ 0.9	DLR
CCI	+ 0.87	AMT
HASI	+ 0.81	AMT
EQIX	+ 0.81	DLR
IRM	+ 0.75	EQIX
HASI	+ 0.68	CCI

High negative correlations

DLR	- 0.82	AMT
IRM	- 0.79	AMT
EQIX	- 0.74	AMT
HASI	- 0.73	DLR
CCI	- 0.72	EQIX
HASI	- 0.69	IRM

Risk-Adjusted Indicators

There is a big difference between SBA Stock performing well and SBA Communications 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 SBA Communications' 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
AMT	1.28	0.17	0.12	0.45	1.53	(1.31)	2.59	(2.66)	8.07
DLR	1.52	(0.21)	0.00	(0.27)	0.00	0.00	2.88	(4.16)	11.70
EQIX	1.20	(0.14)	0.00	(0.23)	0.00	0.00	2.14	(3.59)	7.54
IRM	1.76	(0.26)	0.00	(0.36)	0.00	0.00	2.91	(6.25)	11.11
CCI	1.34	0.18	0.12	0.32	1.42	(1.39)	2.68	(2.40)	10.92
HASI	1.49	0.08	0.05	0.08	1.76	(1.55)	3.85	(2.97)	7.92

SBA Communications Corporate Executives

Elected by the shareholders, the SBA Communications' board of directors comprises two types of representatives: SBA Communications inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SBA. The board's role is to monitor SBA Communications' management team and ensure that shareholders' interests are well served. SBA Communications' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, SBA Communications' outside directors are responsible for providing unbiased perspectives on the board's policies.

Marc Montagner

Executive CFO

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