CUBE vs SBAC: Correlation
How closely do CubeSmart (CUBE) and SBA Communications (SBAC) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and SBAC?
On 3 years of weekly data the CUBE/SBAC correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.54). The 5-year figure is 0.58, and annualized covariance runs at 370.6 %².
Among the 24 assets we track against CUBE, SBAC ranks #16 by 3-year correlation. The trailing year gives CUBE the advantage: +3.8% versus -7.9%, a 11.7-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 SBAC: side by side
| CUBE (CubeSmart) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +3.8% | -7.9% |
| 5-year return | -6.2% | -43.3% |
| Volatility (ann.) | 23.0% | 30.1% |
| Beta vs S&P 500 | 0.63 | 0.42 |
| Max drawdown (3Y) | -32.0% | -32.2% |
| Market cap | $9.0B | $19.8B |
| P/E (trailing) | 27.6 | 20.0 |
| Dividend yield | 5.22% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CUBE | SBAC |
|---|---|---|
| 2022 | -26.3% | -27.3% |
| 2023 | +20.5% | -8.2% |
| 2024 | -4.5% | -18.2% |
| 2025 | -11.6% | -3.1% |
| 2026 | +15.7% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBE and SBAC good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CUBE and SBAC?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.44 over the last year and 0.58 over 5 years.
Is SBAC a good diversifier for CUBE?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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-sbac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cube-vs-sbac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CUBE correlations · SBAC correlations
