AAT vs PDM: Correlation
Measured on weekly returns over the past three years, American Assets Trust, Inc. (AAT) and Piedmont Realty Trust, Inc. (PDM) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAT and PDM?
Over the past 3 years, AAT and PDM moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 724.6 %².
Few assets follow AAT as closely as PDM, which ranks #3 of 24 tracked partners. Their 12-month results are close: +16.2% for AAT against +16.0% for PDM.
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 PDM: side by side
| AAT (American Assets Trust, Inc.) | PDM (Piedmont Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | +16.2% | +16.0% |
| 5-year return | -24.9% | -29.9% |
| Volatility (ann.) | 26.7% | 35.3% |
| Beta vs S&P 500 | 0.74 | 0.95 |
| Max drawdown (3Y) | -38.0% | -46.4% |
| Market cap | $1.7B | $1.2B |
| P/E (trailing) | 75.0 | – |
| Dividend yield | 5.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAT | PDM |
|---|---|---|
| 2022 | -26.4% | -46.8% |
| 2023 | -9.6% | -14.8% |
| 2024 | +23.3% | +37.2% |
| 2025 | -23.0% | -7.3% |
| 2026 | +22.7% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAT and PDM good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AAT and PDM?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.68 over the last year and 0.76 over 5 years.
Is PDM a good diversifier for AAT?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
A reading of 0.77 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-pdm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aat-vs-pdm/)
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Related comparisons
Hubs: AAT correlations · PDM correlations
