AMT vs. SBAC
AMT (American Tower Corporation) and SBAC (SBA Communications Corporation) are both stocks. Both operate in the REIT - Specialty industry within the Real Estate sector. Over the past 10 years, AMT returned 7.71%/yr vs 7.13%/yr for SBAC. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
AMT vs. SBAC - Performance Comparison
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Returns By Period
In the year-to-date period, AMT achieves a 2.46% return, which is significantly higher than SBAC's -1.77% return. Over the past 10 years, AMT has outperformed SBAC with an annualized return of 7.71%, while SBAC has yielded a comparatively lower 7.13% annualized return.
AMT
- 1D
- 0.22%
- 1M
- -3.12%
- YTD
- 2.46%
- 6M
- 5.28%
- 1Y
- -15.74%
- 3Y*
- 1.76%
- 5Y*
- -4.83%
- 10Y*
- 7.71%
SBAC
- 1D
- 0.39%
- 1M
- -8.75%
- YTD
- -1.77%
- 6M
- -0.33%
- 1Y
- -16.26%
- 3Y*
- -3.73%
- 5Y*
- -8.55%
- 10Y*
- 7.13%
AMT vs. SBAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AMT American Tower Corporation | 2.46% | -0.92% | -12.16% | 5.37% | -25.67% | 32.89% | -0.48% | 47.87% | 13.32% | 37.71% |
SBAC SBA Communications Corporation | -1.77% | -3.13% | -18.18% | -8.15% | -27.30% | 38.95% | 17.81% | 49.30% | -0.90% | 58.20% |
Correlation
The correlation between AMT and SBAC is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 1999 | 0.58 |
The correlation between AMT and SBAC shifts across timeframes, from 0.58 (all time) to 0.82 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AMT:
$82.36B
SBAC:
$19.91B
AMT:
$6.14
SBAC:
$9.50
AMT:
28.71
SBAC:
19.74
AMT:
8.19
SBAC:
0.40
AMT:
7.64
SBAC:
7.04
AMT:
$10.82B
SBAC:
$2.85B
AMT:
$7.94B
SBAC:
$1.28B
AMT:
$6.71B
SBAC:
$1.74B
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Return for Risk
AMT vs. SBAC — Risk / Return Rank
AMT
SBAC
AMT vs. SBAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Tower Corporation (AMT) and SBA Communications Corporation (SBAC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AMT | SBAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.93 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | -0.55 | -0.04 |
| Martin ratioReturn relative to average drawdown | -0.85 | -1.01 | +0.16 |
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Drawdowns
AMT vs. SBAC - Drawdown Comparison
The maximum AMT drawdown since its inception was -98.70%, roughly equal to the maximum SBAC drawdown of -99.65%. Use the drawdown chart below to compare losses from any high point for AMT and SBAC.
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Drawdown Indicators
| AMT | SBAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.70% | -99.65% | +0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -26.67% | -29.80% | +3.13% |
Max Drawdown (3Y)Largest decline over 3 years | -27.54% | -32.21% | +4.67% |
Max Drawdown (5Y)Largest decline over 5 years | -45.34% | -54.50% | +9.16% |
Max Drawdown (10Y)Largest decline over 10 years | -45.34% | -54.50% | +9.16% |
Current DrawdownCurrent decline from peak | -32.06% | -48.01% | +15.95% |
Average DrawdownAverage peak-to-trough decline | -27.02% | -35.40% | +8.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.60% | 16.15% | +2.45% |
Volatility
AMT vs. SBAC - Volatility Comparison
The current volatility for American Tower Corporation (AMT) is 8.42%, while SBA Communications Corporation (SBAC) has a volatility of 10.68%. This indicates that AMT experiences smaller price fluctuations and is considered to be less risky than SBAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMT | SBAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.42% | 10.68% | -2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 19.69% | 28.15% | -8.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.43% | 32.95% | -8.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.43% | 29.44% | -3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.23% | 28.14% | -1.91% |
Dividends
AMT vs. SBAC - Dividend Comparison
AMT's dividend yield for the trailing twelve months is around 3.96%, more than SBAC's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMT American Tower Corporation | 3.96% | 3.87% | 3.53% | 2.99% | 2.77% | 1.78% | 2.02% | 1.64% | 1.99% | 1.84% | 2.05% | 1.87% |
SBAC SBA Communications Corporation | 2.52% | 2.30% | 1.92% | 1.34% | 1.01% | 0.60% | 0.66% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
AMT vs. SBAC - Financials Comparison
This section allows you to compare key financial metrics between American Tower Corporation and SBA Communications Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AMT vs. SBAC - Profitability Comparison
AMT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American Tower Corporation reported a gross profit of 2.02B and revenue of 2.74B. Therefore, the gross margin over that period was 73.9%.
SBAC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SBA Communications Corporation reported a gross profit of 0.00 and revenue of 703.44M. Therefore, the gross margin over that period was 0.0%.
AMT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American Tower Corporation reported an operating income of 1.16B and revenue of 2.74B, resulting in an operating margin of 42.4%.
SBAC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SBA Communications Corporation reported an operating income of 342.85M and revenue of 703.44M, resulting in an operating margin of 48.7%.
AMT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American Tower Corporation reported a net income of 836.80M and revenue of 2.74B, resulting in a net margin of 30.6%.
SBAC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SBA Communications Corporation reported a net income of 184.83M and revenue of 703.44M, resulting in a net margin of 26.3%.
Frequently Asked Questions
AMT and SBAC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBAC has higher volatility (10.68%) compared to AMT (8.42%). In terms of maximum drawdown, AMT dropped -98.70% vs SBAC's -99.65%.
SBAC currently has the higher Sharpe Ratio (-0.50 vs -0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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