APLE vs PEB: Correlation
How closely do Apple Hospitality REIT, Inc. (APLE) and Pebblebrook Hotel Trust (PEB) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLE and PEB?
Over the past 3 years, APLE and PEB moved with a correlation of 0.79, which is strong. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 639.8 %².
Among the 16 assets we track against APLE, PEB ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PEB outperformed by 28.7 percentage points (+34.4% for APLE against +63.1% for PEB). Note the risk asymmetry: PEB runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
APLE vs PEB: side by side
| APLE (Apple Hospitality REIT, Inc.) | PEB (Pebblebrook Hotel Trust) | |
|---|---|---|
| 1-year return | +34.4% | +63.1% |
| 5-year return | +50.0% | -14.2% |
| Volatility (ann.) | 22.9% | 35.5% |
| Beta vs S&P 500 | 0.74 | 1.16 |
| Max drawdown (3Y) | -33.0% | -53.4% |
| Market cap | $3.9B | $2.1B |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 5.80% | 0.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLE | PEB |
|---|---|---|
| 2022 | +2.4% | -40.0% |
| 2023 | +12.3% | +19.7% |
| 2024 | -1.3% | -15.0% |
| 2025 | -16.6% | -16.1% |
| 2026 | +44.5% | +61.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLE and PEB good diversifiers for each other?
Only partially. A correlation of 0.79 means APLE and PEB 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 APLE and PEB?
The APLE/PEB correlation stands at 0.79 on a 3-year window (1 year: 0.82, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is PEB a good diversifier for APLE?
Only partially. A correlation of 0.79 means APLE and PEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
A reading of 0.79 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: APLE correlations · PEB correlations
