AAT vs FRT: Correlation
How closely do American Assets Trust, Inc. (AAT) and Federal Realty Investment Trust (FRT) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAT and FRT?
Across a 3-year window, the weekly returns of AAT and FRT correlate at 0.75, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.75 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 391.0 %².
Among the 24 assets we track against AAT, FRT ranks #6 by 3-year correlation. The trailing year gives FRT the advantage: +16.2% versus +21.6%, a 5.4-point spread.
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 FRT: side by side
| AAT (American Assets Trust, Inc.) | FRT (Federal Realty Investment Trust) | |
|---|---|---|
| 1-year return | +16.2% | +21.6% |
| 5-year return | -24.9% | +18.8% |
| Volatility (ann.) | 26.7% | 19.5% |
| Beta vs S&P 500 | 0.74 | 0.53 |
| Max drawdown (3Y) | -38.0% | -27.4% |
| Market cap | $1.7B | $10.2B |
| P/E (trailing) | 75.0 | 23.6 |
| Dividend yield | 5.98% | 3.84% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | AAT | FRT |
|---|---|---|
| 2022 | -26.4% | -22.7% |
| 2023 | -9.6% | +6.6% |
| 2024 | +23.3% | +12.1% |
| 2025 | -23.0% | -5.9% |
| 2026 | +22.7% | +19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAT and FRT good diversifiers for each other?
Only partially. A correlation of 0.75 means AAT and FRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AAT and FRT?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.71 over the last year and 0.75 over 5 years.
Is FRT a good diversifier for AAT?
Only partially. A correlation of 0.75 means AAT and FRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aat-vs-frt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aat-vs-frt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAT correlations · FRT correlations
