AHT vs SLG: Correlation
How closely do Ashford Hospitality Trust Inc (AHT) and SL Green Realty Corp (SLG) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AHT and SLG?
Over the past 3 years, AHT and SLG moved with a correlation of 0.40, which is moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.40). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 1118.2 %².
Within AHT's tracked universe of 11 assets, SLG comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SLG ahead by 52.1 points (-45.4% versus +6.7%). One caveat on sizing: AHT is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AHT vs SLG: side by side
| AHT (Ashford Hospitality Trust Inc) | SLG (SL Green Realty Corp) | |
|---|---|---|
| 1-year return | -45.4% | +6.7% |
| 5-year return | -97.7% | +15.1% |
| Volatility (ann.) | 67.7% | 41.1% |
| Beta vs S&P 500 | 1.08 | 1.33 |
| Max drawdown (3Y) | -91.5% | -53.9% |
| Market cap | – | $4.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 5.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AHT | SLG |
|---|---|---|
| 2022 | -53.4% | -50.9% |
| 2023 | -56.6% | +48.8% |
| 2024 | -62.9% | +58.3% |
| 2025 | -40.8% | -29.0% |
| 2026 | -21.6% | +29.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AHT and SLG good diversifiers for each other?
Reasonably. At 0.40, AHT and SLG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AHT and SLG?
The AHT/SLG correlation stands at 0.40 on a 3-year window (1 year: 0.52, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is SLG a good diversifier for AHT?
Reasonably. At 0.40, AHT and SLG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aht-vs-slg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aht-vs-slg/)
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Related comparisons
Hubs: AHT correlations · SLG correlations
