ARE vs JBGS: Correlation
How closely do Alexandria Real Estate Equities (ARE) and JBG SMITH Properties (JBGS) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and JBGS?
Over the past 3 years, ARE and JBGS moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 820.0 %².
Few assets follow ARE as closely as JBGS, which ranks #3 of 34 tracked partners. On 12-month performance ARE holds a 8.3-point edge, -32.1% against -40.4%.
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 JBGS: side by side
| ARE (Alexandria Real Estate Equities) | JBGS (JBG SMITH Properties) | |
|---|---|---|
| 1-year return | -32.1% | -40.4% |
| 5-year return | -68.3% | -49.3% |
| Volatility (ann.) | 38.3% | 33.7% |
| Beta vs S&P 500 | 0.91 | 0.68 |
| Max drawdown (3Y) | -65.6% | -52.2% |
| Market cap | $9.0B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 6.57% | 5.67% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ARE | JBGS |
|---|---|---|
| 2022 | -32.6% | -31.0% |
| 2023 | -9.1% | -6.1% |
| 2024 | -19.4% | -4.5% |
| 2025 | -46.6% | +15.2% |
| 2026 | +9.9% | -26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and JBGS good diversifiers for each other?
Only partially. A correlation of 0.64 means ARE and JBGS 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 JBGS?
The ARE/JBGS correlation stands at 0.64 on a 3-year window (1 year: 0.70, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is JBGS a good diversifier for ARE?
Only partially. A correlation of 0.64 means ARE and JBGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/are-vs-jbgs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/are-vs-jbgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARE correlations · JBGS correlations
