BFS vs FRT: Correlation
Measured on weekly returns over the past three years, Saul Centers, Inc. (BFS) and Federal Realty Investment Trust (FRT) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFS and FRT?
Over the past 3 years, BFS and FRT moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 302.5 %².
In BFS's tracked universe of 17 assets, FRT sits right near the top at #2. The last year tells two different stories: FRT led by 15.9 percentage points, +5.7% for BFS against +21.6% for FRT.
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.
BFS vs FRT: side by side
| BFS (Saul Centers, Inc.) | FRT (Federal Realty Investment Trust) | |
|---|---|---|
| 1-year return | +5.7% | +21.6% |
| 5-year return | -2.0% | +18.8% |
| Volatility (ann.) | 20.9% | 19.5% |
| Beta vs S&P 500 | 0.41 | 0.53 |
| Max drawdown (3Y) | -24.1% | -27.4% |
| Market cap | $1.2B | $10.2B |
| P/E (trailing) | 34.8 | 23.6 |
| Dividend yield | 7.01% | 3.84% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | BFS | FRT |
|---|---|---|
| 2022 | -19.4% | -22.7% |
| 2023 | +2.6% | +6.6% |
| 2024 | +5.0% | +12.1% |
| 2025 | -12.8% | -5.9% |
| 2026 | +11.8% | +19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFS and FRT good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BFS and FRT?
As of 2026-08-27, the correlation of weekly returns between BFS and FRT is 0.74 over 3 years, 0.73 over 1 year and 0.73 over 5 years.
Is FRT a good diversifier for BFS?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/bfs-vs-frt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bfs-vs-frt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BFS correlations · FRT correlations
