AIV vs IRT: Correlation
Measured on weekly returns over the past three years, Apartment Investment and Management Company (AIV) and Independence Realty Trust, Inc. (IRT) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIV and IRT?
On 3 years of weekly data the AIV/IRT correlation comes out at 0.65, strong. The past 12 months show a weaker link (0.52) than the 3-year average (0.65). The 5-year figure is 0.64, and annualized covariance runs at 381.2 %².
In AIV's tracked universe of 10 assets, IRT sits right near the top at #1. Over the last 12 months IRT came out ahead by 11.4 percentage points (-14.9% against -3.5%).
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.
AIV vs IRT: side by side
| AIV (Apartment Investment and Management Company) | IRT (Independence Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -14.9% | -3.5% |
| 5-year return | +1.3% | -4.5% |
| Volatility (ann.) | 23.7% | 24.8% |
| Beta vs S&P 500 | 0.73 | 0.74 |
| Max drawdown (3Y) | -27.9% | -29.0% |
| Market cap | $0.4B | $4.0B |
| P/E (trailing) | 22.8 | 91.1 |
| Dividend yield | 0.00% | 4.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIV | IRT |
|---|---|---|
| 2022 | -7.6% | -32.3% |
| 2023 | +10.0% | -5.6% |
| 2024 | +16.1% | +34.3% |
| 2025 | -2.2% | -8.5% |
| 2026 | -19.1% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIV and IRT good diversifiers for each other?
Only partially. A correlation of 0.65 means AIV and IRT 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 AIV and IRT?
As of 2026-08-27, the correlation of weekly returns between AIV and IRT is 0.65 over 3 years, 0.52 over 1 year and 0.64 over 5 years.
Is IRT a good diversifier for AIV?
Only partially. A correlation of 0.65 means AIV and IRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 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/aiv-vs-irt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aiv-vs-irt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIV correlations · IRT correlations
