ARE vs KIM: Correlation
Measured on weekly returns over the past three years, Alexandria Real Estate Equities (ARE) and Kimco Realty (KIM) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and KIM?
On 3 years of weekly data the ARE/KIM correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.58 over 1 year against 0.64 over 3. The 5-year figure is 0.67, and annualized covariance runs at 562.7 %².
Within ARE's tracked universe of 34 assets, KIM comes in at #4 by 3-year correlation. The last year tells two different stories: KIM led by 43.5 percentage points, -32.1% for ARE against +11.4% for KIM. The link looks structural: the rolling one-year correlation barely moved, holding between 0.61 and 0.84. Risk is not evenly split, since ARE carries 1.7 times the volatility of the other side.
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 KIM: side by side
| ARE (Alexandria Real Estate Equities) | KIM (Kimco Realty) | |
|---|---|---|
| 1-year return | -32.1% | +11.4% |
| 5-year return | -68.3% | +35.9% |
| Volatility (ann.) | 38.3% | 22.9% |
| Beta vs S&P 500 | 0.91 | 0.63 |
| Max drawdown (3Y) | -65.6% | -25.9% |
| Market cap | $9.0B | $16.0B |
| P/E (trailing) | – | 28.0 |
| Dividend yield | 6.57% | 4.29% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | ARE | KIM |
|---|---|---|
| 2022 | -32.6% | -10.8% |
| 2023 | -9.1% | +6.1% |
| 2024 | -19.4% | +15.0% |
| 2025 | -46.6% | -9.3% |
| 2026 | +9.9% | +20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and KIM good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARE and KIM?
The ARE/KIM correlation stands at 0.64 on a 3-year window (1 year: 0.58, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is KIM a good diversifier for ARE?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ARE correlations · KIM correlations
