SBA Communications (SBAC) seasonality heatmap
Returns across monthly, quarterly, and yearly periods. Cell color encodes signed magnitude; the scale auto-fits each table.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.8% | +9.3% | -13.9% | +28.5% | -7.6% | -13.1% | +5.6% | — | — | — | — | — |
| 2025 | -3.1% | +10.3% | +1.5% | +10.6% | -4.3% | +1.3% | -4.3% | -8.4% | -5.6% | -1.0% | +2.0% | -0.4% |
| 2024 | -11.8% | -6.5% | +4.0% | -14.1% | +6.2% | -0.2% | +11.8% | +3.7% | +6.2% | -4.7% | -1.0% | -9.9% |
| 2023 | +6.1% | -12.8% | +1.0% | -0.1% | -14.7% | +4.5% | -5.5% | +3.0% | -10.8% | +4.2% | +18.8% | +2.7% |
| 2022 | -16.3% | -6.8% | +13.7% | +0.9% | -2.8% | -4.9% | +4.9% | -2.9% | -12.5% | -5.2% | +11.2% | -6.3% |
| 2021 | -4.8% | -5.0% | +9.0% | +8.0% | -0.3% | +6.9% | +7.0% | +5.4% | -7.9% | +4.5% | -0.3% | +13.2% |
| 2020 | +3.6% | +6.2% | +2.0% | +7.4% | +8.5% | -5.2% | +4.6% | -1.6% | +4.1% | -8.8% | -0.9% | -1.8% |
| 2019 | +12.7% | -1.1% | +10.6% | +2.0% | +6.2% | +3.9% | +9.1% | +7.1% | -8.1% | -0.2% | -1.6% | +1.9% |
| 2018 | +6.8% | -9.9% | +8.7% | -6.3% | -1.3% | +4.5% | -4.2% | -1.9% | +3.5% | +1.0% | +5.3% | -5.2% |
| 2017 | +1.9% | +10.0% | +4.0% | +5.1% | +9.2% | -2.4% | +2.0% | +11.6% | -6.2% | +9.1% | +8.0% | -3.8% |
| 2016 | -5.5% | -4.4% | +5.6% | +2.9% | -3.5% | +8.6% | +6.5% | -0.7% | -1.7% | +1.0% | -12.6% | +4.3% |
| 2015 | +5.4% | +6.9% | -6.1% | -1.1% | -3.5% | +2.8% | +5.0% | -2.1% | -11.4% | +13.6% | -11.6% | -0.1% |
| 2014 | +3.2% | +2.6% | -4.4% | -1.3% | +13.1% | +0.8% | +4.5% | +3.1% | +0.5% | +1.3% | +8.3% | -9.0% |
| 2013 | -1.9% | +2.1% | +1.2% | +9.7% | -4.7% | -1.5% | -0.0% | +1.2% | +7.3% | +8.6% | -2.5% | +5.5% |
| 2012 | +6.4% | +2.7% | +8.2% | +5.9% | -3.4% | +9.8% | +3.5% | +1.2% | +5.2% | +5.5% | +3.7% | +3.1% |
| 2011 | -0.3% | +3.1% | -5.7% | -2.6% | +1.7% | -2.8% | -0.1% | -1.0% | -8.8% | +10.5% | +7.3% | +5.1% |
| 2010 | -3.1% | +6.9% | +2.0% | -2.0% | -6.5% | +3.0% | +6.4% | -1.0% | +12.6% | -2.6% | -0.3% | +4.6% |
| 2009 | +22.0% | +4.4% | +12.1% | +8.1% | +1.5% | -4.0% | +6.3% | -7.6% | +12.1% | +4.4% | +13.6% | +6.6% |
| 2008 | -12.5% | +4.9% | -4.0% | +8.4% | +15.1% | -3.2% | +5.2% | -7.8% | -25.9% | -18.9% | -24.8% | +3.3% |
| 2007 | +8.0% | -9.2% | +9.6% | -0.4% | +9.2% | +4.5% | -0.8% | -2.3% | +8.3% | +0.9% | +5.2% | -9.6% |
| 2006 | +22.1% | +2.9% | +4.1% | +7.3% | -8.9% | +14.2% | -8.6% | +7.8% | -5.5% | +9.8% | +6.2% | -3.1% |
| 2005 | -7.7% | +1.5% | +5.0% | -7.2% | +32.6% | +20.1% | +22.9% | -9.3% | +2.6% | -4.3% | +24.9% | -3.0% |
| 2004 | +18.4% | 0.0% | -12.8% | +2.3% | -2.8% | +15.3% | +13.1% | +3.3% | +34.6% | +19.6% | +14.7% | -3.3% |
| 2003 | +36.6% | +16.1% | +102.4% | +26.7% | +82.9% | -1.4% | +28.5% | -13.4% | -5.9% | +29.3% | -15.1% | +8.9% |
| 2002 | -46.6% | -65.5% | +37.0% | -12.0% | -49.2% | -3.7% | +24.0% | -18.8% | -23.5% | -66.1% | +102.7% | -45.3% |
| 2001 | +10.4% | -27.2% | -52.1% | +115.6% | -32.1% | +6.9% | -20.4% | -32.4% | +0.2% | -38.5% | +44.3% | +10.0% |
| 2000 | +61.6% | +33.6% | +8.6% | -7.7% | -8.3% | +39.4% | -13.1% | -1.1% | -6.0% | +19.5% | -25.7% | +10.2% |
| 1999 | — | — | — | — | — | — | +14.8% | +2.8% | -4.9% | -10.4% | +18.0% | +63.0% |
| Avg | +4.0% | -0.9% | +5.6% | +7.2% | +1.2% | +3.9% | +4.6% | -2.3% | -1.8% | -0.7% | +7.3% | +1.5% |
| Median | +3.2% | +2.6% | +4.0% | +2.3% | -2.8% | +2.8% | +4.9% | -1.0% | -4.9% | +1.0% | +5.2% | +1.9% |
| Last 5Y Avg | -6.0% | -1.3% | +1.3% | +5.2% | -4.6% | -2.5% | +2.8% | +0.2% | -6.1% | -0.4% | +6.2% | -0.2% |
| Std Dev (σ) | 19.0% | 16.8% | 24.1% | 23.7% | 22.0% | 10.1% | 10.7% | 8.9% | 11.9% | 18.3% | 24.0% | 16.4% |
| Consistency (μ/σ) | 0.21 | -0.05 | 0.23 | 0.30 | 0.05 | 0.38 | 0.42 | -0.26 | -0.15 | -0.04 | 0.30 | 0.09 |
| Win Rate (%) | 56% | 59% | 74% | 59% | 41% | 59% | 67% | 41% | 44% | 59% | 59% | 52% |
| Winning / Losing Months | ▲15▼12 | ▲16▼11 | ▲20▼7 | ▲16▼11 | ▲11▼16 | ▲16▼11 | ▲18▼9 | ▲11▼16 | ▲12▼15 | ▲16▼11 | ▲16▼11 | ▲14▼13 |
| Longest Win / Loss Streak | ▲4▼3 | ▲8▼4 | ▲10▼2 | ▲4▼2 | ▲3▼3 | ▲4▼2 | ▲4▼2 | ▲3▼5 | ▲3▼3 | ▲8▼2 | ▲4▼3 | ▲6▼4 |
| Best | +61.6%in January 2000 | +33.6%in February 2000 | +102.4%in March 2003 | +115.6%in April 2001 | +82.9%in May 2003 | +39.4%in June 2000 | +28.5%in July 2003 | +11.6%in August 2017 | +34.6%in September 2004 | +29.3%in October 2003 | +102.7%in November 2002 | +63.0%in December 1999 |
| Worst | -46.6%in January 2002 | -65.5%in February 2002 | -52.1%in March 2001 | -14.1%in April 2024 | -49.2%in May 2002 | -13.1%in June 2026 | -20.4%in July 2001 | -32.4%in August 2001 | -25.9%in September 2008 | -66.1%in October 2002 | -25.7%in November 2000 | -45.3%in December 2002 |
-66.1%+115.6%
2026
Jan-4.8%
Feb+9.3%
Mar-13.9%
Apr+28.5%
May-7.6%
Jun-13.1%
Jul+5.6%
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan-3.1%
Feb+10.3%
Mar+1.5%
Apr+10.6%
May-4.3%
Jun+1.3%
Jul-4.3%
Aug-8.4%
Sep-5.6%
Oct-1.0%
Nov+2.0%
Dec-0.4%
2024
Jan-11.8%
Feb-6.5%
Mar+4.0%
Apr-14.1%
May+6.2%
Jun-0.2%
Jul+11.8%
Aug+3.7%
Sep+6.2%
Oct-4.7%
Nov-1.0%
Dec-9.9%
2023
Jan+6.1%
Feb-12.8%
Mar+1.0%
Apr-0.1%
May-14.7%
Jun+4.5%
Jul-5.5%
Aug+3.0%
Sep-10.8%
Oct+4.2%
Nov+18.8%
Dec+2.7%
2022
Jan-16.3%
Feb-6.8%
Mar+13.7%
Apr+0.9%
May-2.8%
Jun-4.9%
Jul+4.9%
Aug-2.9%
Sep-12.5%
Oct-5.2%
Nov+11.2%
Dec-6.3%
2021
Jan-4.8%
Feb-5.0%
Mar+9.0%
Apr+8.0%
May-0.3%
Jun+6.9%
Jul+7.0%
Aug+5.4%
Sep-7.9%
Oct+4.5%
Nov-0.3%
Dec+13.2%
2020
Jan+3.6%
Feb+6.2%
Mar+2.0%
Apr+7.4%
May+8.5%
Jun-5.2%
Jul+4.6%
Aug-1.6%
Sep+4.1%
Oct-8.8%
Nov-0.9%
Dec-1.8%
2019
Jan+12.7%
Feb-1.1%
Mar+10.6%
Apr+2.0%
May+6.2%
Jun+3.9%
Jul+9.1%
Aug+7.1%
Sep-8.1%
Oct-0.2%
Nov-1.6%
Dec+1.9%
2018
Jan+6.8%
Feb-9.9%
Mar+8.7%
Apr-6.3%
May-1.3%
Jun+4.5%
Jul-4.2%
Aug-1.9%
Sep+3.5%
Oct+1.0%
Nov+5.3%
Dec-5.2%
2017
Jan+1.9%
Feb+10.0%
Mar+4.0%
Apr+5.1%
May+9.2%
Jun-2.4%
Jul+2.0%
Aug+11.6%
Sep-6.2%
Oct+9.1%
Nov+8.0%
Dec-3.8%
2016
Jan-5.5%
Feb-4.4%
Mar+5.6%
Apr+2.9%
May-3.5%
Jun+8.6%
Jul+6.5%
Aug-0.7%
Sep-1.7%
Oct+1.0%
Nov-12.6%
Dec+4.3%
2015
Jan+5.4%
Feb+6.9%
Mar-6.1%
Apr-1.1%
May-3.5%
Jun+2.8%
Jul+5.0%
Aug-2.1%
Sep-11.4%
Oct+13.6%
Nov-11.6%
Dec-0.1%
2014
Jan+3.2%
Feb+2.6%
Mar-4.4%
Apr-1.3%
May+13.1%
Jun+0.8%
Jul+4.5%
Aug+3.1%
Sep+0.5%
Oct+1.3%
Nov+8.3%
Dec-9.0%
2013
Jan-1.9%
Feb+2.1%
Mar+1.2%
Apr+9.7%
May-4.7%
Jun-1.5%
Jul-0.0%
Aug+1.2%
Sep+7.3%
Oct+8.6%
Nov-2.5%
Dec+5.5%
2012
Jan+6.4%
Feb+2.7%
Mar+8.2%
Apr+5.9%
May-3.4%
Jun+9.8%
Jul+3.5%
Aug+1.2%
Sep+5.2%
Oct+5.5%
Nov+3.7%
Dec+3.1%
2011
Jan-0.3%
Feb+3.1%
Mar-5.7%
Apr-2.6%
May+1.7%
Jun-2.8%
Jul-0.1%
Aug-1.0%
Sep-8.8%
Oct+10.5%
Nov+7.3%
Dec+5.1%
2010
Jan-3.1%
Feb+6.9%
Mar+2.0%
Apr-2.0%
May-6.5%
Jun+3.0%
Jul+6.4%
Aug-1.0%
Sep+12.6%
Oct-2.6%
Nov-0.3%
Dec+4.6%
2009
Jan+22.0%
Feb+4.4%
Mar+12.1%
Apr+8.1%
May+1.5%
Jun-4.0%
Jul+6.3%
Aug-7.6%
Sep+12.1%
Oct+4.4%
Nov+13.6%
Dec+6.6%
2008
Jan-12.5%
Feb+4.9%
Mar-4.0%
Apr+8.4%
May+15.1%
Jun-3.2%
Jul+5.2%
Aug-7.8%
Sep-25.9%
Oct-18.9%
Nov-24.8%
Dec+3.3%
2007
Jan+8.0%
Feb-9.2%
Mar+9.6%
Apr-0.4%
May+9.2%
Jun+4.5%
Jul-0.8%
Aug-2.3%
Sep+8.3%
Oct+0.9%
Nov+5.2%
Dec-9.6%
2006
Jan+22.1%
Feb+2.9%
Mar+4.1%
Apr+7.3%
May-8.9%
Jun+14.2%
Jul-8.6%
Aug+7.8%
Sep-5.5%
Oct+9.8%
Nov+6.2%
Dec-3.1%
2005
Jan-7.7%
Feb+1.5%
Mar+5.0%
Apr-7.2%
May+32.6%
Jun+20.1%
Jul+22.9%
Aug-9.3%
Sep+2.6%
Oct-4.3%
Nov+24.9%
Dec-3.0%
2004
Jan+18.4%
Feb0.0%
Mar-12.8%
Apr+2.3%
May-2.8%
Jun+15.3%
Jul+13.1%
Aug+3.3%
Sep+34.6%
Oct+19.6%
Nov+14.7%
Dec-3.3%
2003
Jan+36.6%
Feb+16.1%
Mar+102.4%
Apr+26.7%
May+82.9%
Jun-1.4%
Jul+28.5%
Aug-13.4%
Sep-5.9%
Oct+29.3%
Nov-15.1%
Dec+8.9%
2002
Jan-46.6%
Feb-65.5%
Mar+37.0%
Apr-12.0%
May-49.2%
Jun-3.7%
Jul+24.0%
Aug-18.8%
Sep-23.5%
Oct-66.1%
Nov+102.7%
Dec-45.3%
2001
Jan+10.4%
Feb-27.2%
Mar-52.1%
Apr+115.6%
May-32.1%
Jun+6.9%
Jul-20.4%
Aug-32.4%
Sep+0.2%
Oct-38.5%
Nov+44.3%
Dec+10.0%
2000
Jan+61.6%
Feb+33.6%
Mar+8.6%
Apr-7.7%
May-8.3%
Jun+39.4%
Jul-13.1%
Aug-1.1%
Sep-6.0%
Oct+19.5%
Nov-25.7%
Dec+10.2%
1999
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul+14.8%
Aug+2.8%
Sep-4.9%
Oct-10.4%
Nov+18.0%
Dec+63.0%
Avg
Jan+4.0%
Feb-0.9%
Mar+5.6%
Apr+7.2%
May+1.2%
Jun+3.9%
Jul+4.6%
Aug-2.3%
Sep-1.8%
Oct-0.7%
Nov+7.3%
Dec+1.5%
Median
Jan+3.2%
Feb+2.6%
Mar+4.0%
Apr+2.3%
May-2.8%
Jun+2.8%
Jul+4.9%
Aug-1.0%
Sep-4.9%
Oct+1.0%
Nov+5.2%
Dec+1.9%
Last 5Y Avg
Jan-6.0%
Feb-1.3%
Mar+1.3%
Apr+5.2%
May-4.6%
Jun-2.5%
Jul+2.8%
Aug+0.2%
Sep-6.1%
Oct-0.4%
Nov+6.2%
Dec-0.2%
Std Dev (σ)
Jan19.0%
Feb16.8%
Mar24.1%
Apr23.7%
May22.0%
Jun10.1%
Jul10.7%
Aug8.9%
Sep11.9%
Oct18.3%
Nov24.0%
Dec16.4%
Consistency (μ/σ)
Jan0.21
Feb-0.05
Mar0.23
Apr0.30
May0.05
Jun0.38
Jul0.42
Aug-0.26
Sep-0.15
Oct-0.04
Nov0.30
Dec0.09
Win Rate (%)
Jan56%
Feb59%
Mar74%
Apr59%
May41%
Jun59%
Jul67%
Aug41%
Sep44%
Oct59%
Nov59%
Dec52%
Winning / Losing Months
Jan▲15▼12
Feb▲16▼11
Mar▲20▼7
Apr▲16▼11
May▲11▼16
Jun▲16▼11
Jul▲18▼9
Aug▲11▼16
Sep▲12▼15
Oct▲16▼11
Nov▲16▼11
Dec▲14▼13
Longest Win / Loss Streak
Jan▲4▼3
Feb▲8▼4
Mar▲10▼2
Apr▲4▼2
May▲3▼3
Jun▲4▼2
Jul▲4▼2
Aug▲3▼5
Sep▲3▼3
Oct▲8▼2
Nov▲4▼3
Dec▲6▼4
Best
Jan+61.6%2000
Feb+33.6%2000
Mar+102.4%2003
Apr+115.6%2001
May+82.9%2003
Jun+39.4%2000
Jul+28.5%2003
Aug+11.6%2017
Sep+34.6%2004
Oct+29.3%2003
Nov+102.7%2002
Dec+63.0%1999
Worst
Jan-46.6%2002
Feb-65.5%2002
Mar-52.1%2001
Apr-14.1%2024
May-49.2%2002
Jun-13.1%2026
Jul-20.4%2001
Aug-32.4%2001
Sep-25.9%2008
Oct-66.1%2002
Nov-25.7%2000
Dec-45.3%2002
-66.1%+115.6%
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