AMT vs NNN: Correlation
American Tower (AMT) and NNN REIT, Inc. (NNN) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and NNN?
Across a 3-year window, the weekly returns of AMT and NNN correlate at 0.61, strong. The past 12 months show a weaker link (0.44) than the 3-year average (0.61). Stretching to 5 years gives 0.60, with an annualized covariance of 311.2 %².
By 3-year correlation, NNN places #7 of the 30 assets tracked against AMT. Correlation aside, the last 12 months split them widely, with NNN ahead by 24.1 points (-11.0% versus +13.1%).
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.
AMT vs NNN: side by side
| AMT (American Tower) | NNN (NNN REIT, Inc.) | |
|---|---|---|
| 1-year return | -11.0% | +13.1% |
| 5-year return | -30.2% | +25.1% |
| Volatility (ann.) | 27.1% | 18.8% |
| Beta vs S&P 500 | 0.18 | 0.31 |
| Max drawdown (3Y) | -28.4% | -22.0% |
| Market cap | $81.2B | $8.6B |
| P/E (trailing) | 24.2 | 22.3 |
| Dividend yield | 3.97% | 5.26% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | AMT | NNN |
|---|---|---|
| 2022 | -25.7% | -0.0% |
| 2023 | +5.4% | -0.6% |
| 2024 | -12.2% | -0.1% |
| 2025 | -0.9% | +2.8% |
| 2026 | +1.1% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and NNN good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMT and NNN?
The AMT/NNN correlation stands at 0.61 on a 3-year window (1 year: 0.44, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is NNN a good diversifier for AMT?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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/amt-vs-nnn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amt-vs-nnn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMT correlations · NNN correlations
