ADC vs WELL: Correlation
How closely do Agree Realty Corporation (ADC) and Welltower (WELL) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADC and WELL?
On 3 years of weekly data the ADC/WELL correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.58 over 3. The 5-year figure is 0.53, and annualized covariance runs at 203.1 %².
Within ADC's tracked universe of 22 assets, WELL comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WELL outperformed by 40.0 percentage points (+4.9% for ADC against +44.9% for WELL).
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.
ADC vs WELL: side by side
| ADC (Agree Realty Corporation) | WELL (Welltower) | |
|---|---|---|
| 1-year return | +4.9% | +44.9% |
| 5-year return | +21.4% | +214.9% |
| Volatility (ann.) | 16.6% | 21.2% |
| Beta vs S&P 500 | 0.09 | 0.30 |
| Max drawdown (3Y) | -13.0% | -13.0% |
| Market cap | $9.1B | $172.6B |
| P/E (trailing) | 39.8 | 108.9 |
| Dividend yield | 4.26% | 1.27% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | ADC | WELL |
|---|---|---|
| 2022 | +3.5% | -21.2% |
| 2023 | -7.1% | +41.8% |
| 2024 | +17.2% | +43.1% |
| 2025 | +6.6% | +49.9% |
| 2026 | +4.1% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADC and WELL good diversifiers for each other?
Only partially. A correlation of 0.58 means ADC and WELL 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 ADC and WELL?
The ADC/WELL correlation stands at 0.58 on a 3-year window (1 year: 0.66, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is WELL a good diversifier for ADC?
Only partially. A correlation of 0.58 means ADC and WELL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/adc-vs-well.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adc-vs-well/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADC correlations · WELL correlations
