ARE vs RDI: Correlation
Alexandria Real Estate Equities (ARE) and Reading International Inc - Class A Non-voting (RDI) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and RDI?
On 3 years of weekly data the ARE/RDI correlation comes out at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 561.2 %².
By 3-year correlation, RDI places #23 of the 34 assets tracked against ARE. Correlation aside, the last 12 months split them widely, with RDI ahead by 68.5 points (-32.1% versus +36.4%).
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 RDI: side by side
| ARE (Alexandria Real Estate Equities) | RDI (Reading International Inc - Class A Non-voting) | |
|---|---|---|
| 1-year return | -32.1% | +36.4% |
| 5-year return | -68.3% | -57.8% |
| Volatility (ann.) | 38.3% | 44.2% |
| Beta vs S&P 500 | 0.91 | 0.26 |
| Max drawdown (3Y) | -65.6% | -58.5% |
| Market cap | $9.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ARE | RDI |
|---|---|---|
| 2022 | -32.6% | -31.4% |
| 2023 | -9.1% | -31.0% |
| 2024 | -19.4% | -30.9% |
| 2025 | -46.6% | -20.5% |
| 2026 | +9.9% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and RDI good diversifiers for each other?
Reasonably. At 0.33, ARE and RDI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARE and RDI?
The ARE/RDI correlation stands at 0.33 on a 3-year window (1 year: 0.37, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is RDI a good diversifier for ARE?
Reasonably. At 0.33, ARE and RDI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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-rdi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/are-vs-rdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARE correlations · RDI correlations
