Extra Space Storage Backtested Returns
Macroaxis considers Extra Space to be not too risky. Extra Space Storage
secures Sharpe Ratio (or Efficiency) of -0.0642 which denotes Extra Space Storage
had -0.0642% of return per unit of risk over the last 1 month. Macroaxis philosophy towards predicting risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. Extra Space Storage Inc exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm Extra Space Storage Coefficient Of Variation
of 1,558 and Mean Deviation of 0.8508 to check risk estimate we provide. Macroaxis gives Extra Space performance score of 0 on a scale of 0 to 100. The firm shows Beta (market volatility) of -0.2839 which denotes to the fact that as returns on market increase, returns on owning Extra Space are expected to decrease at a much smaller rate. During bear market, Extra Space is likely to outperform the market.. Even though it is essential to pay attention to Extra Space Storage historical returns, it is always good to be careful when utilizing equity current trending patterns. Macroaxis philosophy towards predicting future performance of any stock is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Extra Space Storage Inc exposes twenty-one different technical indicators which can help you to evaluate its performance. Extra Space Storage has expected return of -0.0726%. Please be advised to confirm Extra Space Storage Variance and Potential Upside to decide if Extra Space Storage past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.35) |
Poor reverse predictability
Extra Space Storage Inc has poor reverse predictability. Overlapping area represents the amount of predictability between Extra Space time series from February 22, 2018 to March 9, 2018 and March 9, 2018 to March 24, 2018. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Extra Space Storage price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Extra Space price fluctuation can be explain by its past prices. Given that Extra Space Storage Inc has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Extra Space for similar time interval.
|Correlation Coefficient|| -0.35|
|Spearman Rank Test|| -0.35|
|Price Variance|| 2.23|
|Lagged Price Variance|| 0.66|
Extra Space Lagged Returns