ARE vs BDN: Correlation
How closely do Alexandria Real Estate Equities (ARE) and Brandywine Realty Trust (BDN) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and BDN?
Across a 3-year window, the weekly returns of ARE and BDN correlate at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 916.4 %².
Among the 34 assets we track against ARE, BDN ranks #14 by 3-year correlation. On 12-month performance BDN holds a 13.8-point edge, -32.1% against -18.3%.
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.
ARE vs BDN: side by side
| ARE (Alexandria Real Estate Equities) | BDN (Brandywine Realty Trust) | |
|---|---|---|
| 1-year return | -32.1% | -18.3% |
| 5-year return | -68.3% | -61.3% |
| Volatility (ann.) | 38.3% | 40.3% |
| Beta vs S&P 500 | 0.91 | 1.01 |
| Max drawdown (3Y) | -65.6% | -56.3% |
| Market cap | $9.0B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 6.57% | 9.94% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ARE | BDN |
|---|---|---|
| 2022 | -32.6% | -50.7% |
| 2023 | -9.1% | +1.7% |
| 2024 | -19.4% | +17.1% |
| 2025 | -46.6% | -41.3% |
| 2026 | +9.9% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and BDN good diversifiers for each other?
Only partially. A correlation of 0.59 means ARE and BDN 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 ARE and BDN?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.55 over the last year and 0.60 over 5 years.
Is BDN a good diversifier for ARE?
Only partially. A correlation of 0.59 means ARE and BDN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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/are-vs-bdn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/are-vs-bdn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARE correlations · BDN correlations
