CBL vs SPG: Correlation
How closely do CBL & Associates Properties, Inc. (CBL) and Simon Property Group (SPG) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBL and SPG?
On 3 years of weekly data the CBL/SPG correlation comes out at 0.61, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 363.2 %².
In CBL's tracked universe of 10 assets, SPG sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CBL outperformed by 58.9 percentage points (+85.2% for CBL against +26.3% for SPG).
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.
CBL vs SPG: side by side
| CBL (CBL & Associates Properties, Inc.) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | +85.2% | +26.3% |
| 5-year return | +159.7% | +110.2% |
| Volatility (ann.) | 26.3% | 22.7% |
| Beta vs S&P 500 | 0.66 | 0.79 |
| Max drawdown (3Y) | -29.1% | -24.3% |
| Market cap | $1.7B | $81.6B |
| P/E (trailing) | 7.9 | 15.2 |
| Dividend yield | 3.27% | 4.05% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CBL | SPG |
|---|---|---|
| 2022 | -18.0% | -21.9% |
| 2023 | +13.0% | +29.2% |
| 2024 | +28.5% | +26.9% |
| 2025 | +37.2% | +12.9% |
| 2026 | +52.8% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBL and SPG good diversifiers for each other?
To a limited degree. At 0.61 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 CBL and SPG?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.63 over the last year and 0.53 over 5 years.
Is SPG a good diversifier for CBL?
To a limited degree. At 0.61 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 0.61 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/cbl-vs-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbl-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBL correlations · SPG correlations
