ARE vs PAM: Correlation
Measured on weekly returns over the past three years, Alexandria Real Estate Equities (ARE) and Pampa Energia S.A. (PAM) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and PAM?
On 3 years of weekly data the ARE/PAM correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.51) than the 3-year average (-0.15). The 5-year figure is 0.03, and annualized covariance runs at -268.5 %².
By 3-year correlation, PAM places #25 of the 34 assets tracked against ARE. The last year tells two different stories: PAM led by 54.5 percentage points, -32.1% for ARE against +22.4% for PAM.
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 PAM: side by side
| ARE (Alexandria Real Estate Equities) | PAM (Pampa Energia S.A.) | |
|---|---|---|
| 1-year return | -32.1% | +22.4% |
| 5-year return | -68.3% | +339.3% |
| Volatility (ann.) | 38.3% | 45.3% |
| Beta vs S&P 500 | 0.91 | 0.38 |
| Max drawdown (3Y) | -65.6% | -40.4% |
| Market cap | $9.0B | $4.3B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ARE | PAM |
|---|---|---|
| 2022 | -32.6% | +51.3% |
| 2023 | -9.1% | +55.0% |
| 2024 | -19.4% | +77.6% |
| 2025 | -46.6% | +0.6% |
| 2026 | +9.9% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and PAM good diversifiers for each other?
Yes. With a correlation of -0.15, ARE and PAM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARE and PAM?
The ARE/PAM correlation stands at -0.15 on a 3-year window (1 year: -0.51, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is PAM a good diversifier for ARE?
Yes. With a correlation of -0.15, ARE and PAM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
A reading of -0.15 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-pam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/are-vs-pam/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARE correlations · PAM correlations
