BHR vs PEB: Correlation
Measured on weekly returns over the past three years, Braemar Hotels & Resorts Inc. (BHR) and Pebblebrook Hotel Trust (PEB) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHR and PEB?
On 3 years of weekly data the BHR/PEB correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 999.8 %².
Few assets follow BHR as closely as PEB, which ranks #3 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months PEB outperformed by 84.5 percentage points (-21.4% for BHR against +63.1% for PEB). Risk is not evenly split, since BHR carries 1.6 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.
BHR vs PEB: side by side
| BHR (Braemar Hotels & Resorts Inc.) | PEB (Pebblebrook Hotel Trust) | |
|---|---|---|
| 1-year return | -21.4% | +63.1% |
| 5-year return | -47.8% | -14.2% |
| Volatility (ann.) | 55.4% | 35.5% |
| Beta vs S&P 500 | 1.17 | 1.16 |
| Max drawdown (3Y) | -49.7% | -53.4% |
| Market cap | $0.2B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 4.88% | 0.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHR | PEB |
|---|---|---|
| 2022 | -17.9% | -40.0% |
| 2023 | -35.2% | +19.7% |
| 2024 | +29.6% | -15.0% |
| 2025 | +3.0% | -16.1% |
| 2026 | -27.9% | +61.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHR and PEB good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BHR and PEB?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.45 over the last year and 0.57 over 5 years.
Is PEB a good diversifier for BHR?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/bhr-vs-peb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bhr-vs-peb/)
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Related comparisons
Hubs: BHR correlations · PEB correlations
