CCI vs SBAC: Correlation
Crown Castle (CCI) and SBA Communications (SBAC) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and SBAC?
On 3 years of weekly data the CCI/SBAC correlation comes out at 0.76, strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.76 over 3. The 5-year figure is 0.80, and annualized covariance runs at 649.0 %².
In CCI's tracked universe of 30 assets, SBAC sits right near the top at #2. On 12-month performance SBAC holds a 13.6-point edge, -21.5% against -7.9%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.68 and 0.84.
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.
CCI vs SBAC: side by side
| CCI (Crown Castle) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | -21.5% | -7.9% |
| 5-year return | -50.4% | -43.3% |
| Volatility (ann.) | 28.4% | 30.1% |
| Beta vs S&P 500 | 0.22 | 0.42 |
| Max drawdown (3Y) | -33.0% | -32.2% |
| Market cap | $32.8B | $19.8B |
| P/E (trailing) | 30.9 | 20.0 |
| Dividend yield | 5.63% | 2.54% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | CCI | SBAC |
|---|---|---|
| 2022 | -32.6% | -27.3% |
| 2023 | -10.2% | -8.2% |
| 2024 | -16.4% | -18.2% |
| 2025 | +3.0% | -3.1% |
| 2026 | -13.5% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and SBAC good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCI and SBAC?
As of 2026-08-27, the correlation of weekly returns between CCI and SBAC is 0.76 over 3 years, 0.74 over 1 year and 0.80 over 5 years.
Is SBAC a good diversifier for CCI?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cci-vs-sbac.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCI correlations · SBAC correlations
