AMH vs ESS: Correlation
American Homes 4 Rent (AMH) and Essex Property Trust (ESS) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMH and ESS?
Over the past 3 years, AMH and ESS moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 299.0 %².
By 3-year correlation, ESS places #6 of the 12 assets tracked against AMH. Over the last 12 months ESS came out ahead by 11.2 percentage points (-2.1% against +9.1%).
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.
AMH vs ESS: side by side
| AMH (American Homes 4 Rent) | ESS (Essex Property Trust) | |
|---|---|---|
| 1-year return | -2.1% | +9.1% |
| 5-year return | -8.5% | +3.0% |
| Volatility (ann.) | 21.1% | 22.2% |
| Beta vs S&P 500 | 0.43 | 0.64 |
| Max drawdown (3Y) | -29.7% | -20.8% |
| Market cap | – | $19.4B |
| P/E (trailing) | 27.2 | 44.8 |
| Dividend yield | 3.69% | 3.58% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | AMH | ESS |
|---|---|---|
| 2022 | -29.5% | -37.8% |
| 2023 | +22.4% | +22.0% |
| 2024 | +7.0% | +18.4% |
| 2025 | -11.1% | -5.0% |
| 2026 | +6.4% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMH and ESS good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AMH and ESS?
As of 2026-08-27, the correlation of weekly returns between AMH and ESS is 0.64 over 3 years, 0.69 over 1 year and 0.67 over 5 years.
Is ESS a good diversifier for AMH?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amh-vs-ess.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amh-vs-ess/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMH correlations · ESS correlations
