PSA vs SBAC: Correlation
How closely do Public Storage (PSA) and SBA Communications (SBAC) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSA and SBAC?
Across a 3-year window, the weekly returns of PSA and SBAC correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 367.6 %².
By 3-year correlation, SBAC places #18 of the 33 assets tracked against PSA. Their recent paths diverged sharply: over the last 12 months PSA outperformed by 19.2 percentage points (+11.3% for PSA against -7.9% for SBAC). Across three years, the rolling one-year figure varied moderately, from 0.32 to 0.65.
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.
PSA vs SBAC: side by side
| PSA (Public Storage) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +11.3% | -7.9% |
| 5-year return | +20.9% | -43.3% |
| Volatility (ann.) | 23.0% | 30.1% |
| Beta vs S&P 500 | 0.59 | 0.42 |
| Max drawdown (3Y) | -25.6% | -32.2% |
| Market cap | $58.1B | $19.8B |
| P/E (trailing) | 30.3 | 20.0 |
| Dividend yield | 3.78% | 2.54% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | PSA | SBAC |
|---|---|---|
| 2022 | -20.2% | -27.3% |
| 2023 | +13.6% | -8.2% |
| 2024 | +2.1% | -18.2% |
| 2025 | -9.7% | -3.1% |
| 2026 | +22.3% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSA 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 PSA and SBAC?
The PSA/SBAC correlation stands at 0.53 on a 3-year window (1 year: 0.46, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is SBAC a good diversifier for PSA?
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
$ curl https://www.pairbook.io/api/v1/pairs/psa-vs-sbac.json
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[](https://www.pairbook.io/pair/psa-vs-sbac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PSA correlations · SBAC correlations
