AAT vs BDN: Correlation
American Assets Trust, Inc. (AAT) and Brandywine Realty Trust (BDN) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAT and BDN?
Over the past 3 years, AAT and BDN moved with a correlation of 0.73, which is strong. The past 12 months show a weaker link (0.53) than the 3-year average (0.73). Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 781.1 %².
Among the 24 assets we track against AAT, BDN ranks #7 by 3-year correlation. The last year tells two different stories: AAT led by 34.5 percentage points, +16.2% for AAT against -18.3% for BDN. Risk is not evenly split, since BDN carries 1.5 times the volatility of the other side.
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.
AAT vs BDN: side by side
| AAT (American Assets Trust, Inc.) | BDN (Brandywine Realty Trust) | |
|---|---|---|
| 1-year return | +16.2% | -18.3% |
| 5-year return | -24.9% | -61.3% |
| Volatility (ann.) | 26.7% | 40.3% |
| Beta vs S&P 500 | 0.74 | 1.01 |
| Max drawdown (3Y) | -38.0% | -56.3% |
| Market cap | $1.7B | $0.5B |
| P/E (trailing) | 75.0 | – |
| Dividend yield | 5.98% | 9.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAT | BDN |
|---|---|---|
| 2022 | -26.4% | -50.7% |
| 2023 | -9.6% | +1.7% |
| 2024 | +23.3% | +17.1% |
| 2025 | -23.0% | -41.3% |
| 2026 | +22.7% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAT and BDN good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AAT and BDN?
As of 2026-08-27, the correlation of weekly returns between AAT and BDN is 0.73 over 3 years, 0.53 over 1 year and 0.73 over 5 years.
Is BDN a good diversifier for AAT?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/aat-vs-bdn.json
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Related comparisons
Hubs: AAT correlations · BDN correlations
