AVA vs SBAC: Correlation
Measured on weekly returns over the past three years, Avista Corporation (AVA) and SBA Communications (SBAC) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVA and SBAC?
Over the past 3 years, AVA and SBAC moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.53). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 317.9 %².
Among the 20 assets we track against AVA, SBAC ranks #10 by 3-year correlation. Over the last 12 months AVA came out ahead by 14.8 percentage points (+6.9% against -7.9%). One caveat on sizing: SBAC is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AVA vs SBAC: side by side
| AVA (Avista Corporation) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +6.9% | -7.9% |
| 5-year return | +15.3% | -43.3% |
| Volatility (ann.) | 19.8% | 30.1% |
| Beta vs S&P 500 | 0.05 | 0.42 |
| Max drawdown (3Y) | -14.0% | -32.2% |
| Market cap | $3.2B | $19.8B |
| P/E (trailing) | 13.8 | 20.0 |
| Dividend yield | 5.15% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | AVA | SBAC |
|---|---|---|
| 2022 | +8.8% | -27.3% |
| 2023 | -15.3% | -8.2% |
| 2024 | +7.8% | -18.2% |
| 2025 | +10.7% | -3.1% |
| 2026 | +1.6% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVA and SBAC good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVA and SBAC?
The AVA/SBAC correlation stands at 0.53 on a 3-year window (1 year: 0.40, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is SBAC a good diversifier for AVA?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: AVA correlations · SBAC correlations
