CUBE vs PSA: Correlation
CubeSmart (CUBE) and Public Storage (PSA) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and PSA?
On 3 years of weekly data the CUBE/PSA correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. The 5-year figure is 0.88, and annualized covariance runs at 467.9 %².
PSA is one of the assets that tracks CUBE most closely: it ranks #2 out of the 24 assets we track against CUBE. The trailing year gives PSA the advantage: +3.8% versus +11.3%, a 7.5-point spread.
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.
CUBE vs PSA: side by side
| CUBE (CubeSmart) | PSA (Public Storage) | |
|---|---|---|
| 1-year return | +3.8% | +11.3% |
| 5-year return | -6.2% | +20.9% |
| Volatility (ann.) | 23.0% | 23.0% |
| Beta vs S&P 500 | 0.63 | 0.59 |
| Max drawdown (3Y) | -32.0% | -25.6% |
| Market cap | $9.0B | $58.1B |
| P/E (trailing) | 27.6 | 30.3 |
| Dividend yield | 5.22% | 3.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CUBE | PSA |
|---|---|---|
| 2022 | -26.3% | -20.2% |
| 2023 | +20.5% | +13.6% |
| 2024 | -4.5% | +2.1% |
| 2025 | -11.6% | -9.7% |
| 2026 | +15.7% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBE and PSA good diversifiers for each other?
No. With a correlation of 0.88, CUBE and PSA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CUBE and PSA?
As of 2026-08-27, the correlation of weekly returns between CUBE and PSA is 0.88 over 3 years, 0.86 over 1 year and 0.88 over 5 years.
Is PSA a good diversifier for CUBE?
No. With a correlation of 0.88, CUBE and PSA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
A reading of 0.88 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/cube-vs-psa.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cube-vs-psa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CUBE correlations · PSA correlations
