ARE vs VICI: Correlation
How closely do Alexandria Real Estate Equities (ARE) and Vici Properties (VICI) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and VICI?
On 3 years of weekly data the ARE/VICI correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 402.6 %².
By 3-year correlation, VICI places #16 of the 34 assets tracked against ARE. The trailing year gives VICI the advantage: -32.1% versus -18.7%, a 13.4-point spread. Across three years, the rolling one-year figure varied moderately, from 0.50 to 0.78. Note the risk asymmetry: ARE runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VICI: side by side
| ARE (Alexandria Real Estate Equities) | VICI (Vici Properties) | |
|---|---|---|
| 1-year return | -32.1% | -18.7% |
| 5-year return | -68.3% | +9.9% |
| Volatility (ann.) | 38.3% | 18.0% |
| Beta vs S&P 500 | 0.91 | 0.35 |
| Max drawdown (3Y) | -65.6% | -19.1% |
| Market cap | $9.0B | $28.4B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | 6.57% | 6.92% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | ARE | VICI |
|---|---|---|
| 2022 | -32.6% | +13.0% |
| 2023 | -9.1% | +3.6% |
| 2024 | -19.4% | -3.1% |
| 2025 | -46.6% | +1.9% |
| 2026 | +9.9% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and VICI good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARE and VICI?
As of 2026-08-27, the correlation of weekly returns between ARE and VICI is 0.58 over 3 years, 0.50 over 1 year and 0.61 over 5 years.
Is VICI a good diversifier for ARE?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/are-vs-vici.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/are-vs-vici/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARE correlations · VICI correlations
