CPT vs FRT: Correlation
Measured on weekly returns over the past three years, Camden Property Trust (CPT) and Federal Realty Investment Trust (FRT) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPT and FRT?
Over the past 3 years, CPT and FRT moved with a correlation of 0.68, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 283.1 %².
Within CPT's tracked universe of 33 assets, FRT comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRT ahead by 22.0 points (-0.4% versus +21.6%). On a rolling one-year basis the correlation drifted between 0.54 and 0.80, a moderate band.
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.
CPT vs FRT: side by side
| CPT (Camden Property Trust) | FRT (Federal Realty Investment Trust) | |
|---|---|---|
| 1-year return | -0.4% | +21.6% |
| 5-year return | -15.4% | +18.8% |
| Volatility (ann.) | 21.3% | 19.5% |
| Beta vs S&P 500 | 0.55 | 0.53 |
| Max drawdown (3Y) | -21.7% | -27.4% |
| Market cap | $12.2B | $10.2B |
| P/E (trailing) | 35.5 | 23.6 |
| Dividend yield | 3.92% | 3.84% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | CPT | FRT |
|---|---|---|
| 2022 | -35.6% | -22.7% |
| 2023 | -7.6% | +6.6% |
| 2024 | +21.3% | +12.1% |
| 2025 | -1.5% | -5.9% |
| 2026 | -2.0% | +19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPT and FRT good diversifiers for each other?
To a limited degree. At 0.68 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 CPT and FRT?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.64 over the last year and 0.69 over 5 years.
Is FRT a good diversifier for CPT?
To a limited degree. At 0.68 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 0.68 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/cpt-vs-frt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cpt-vs-frt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPT correlations · FRT correlations
