CPT vs MAA: Correlation
How closely do Camden Property Trust (CPT) and Mid-America Apartment Communities (MAA) trade together? Their weekly returns over three years give a correlation of 0.93, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPT and MAA?
On 3 years of weekly data the CPT/MAA correlation comes out at 0.93, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.94) sits close to the 3-year figure. The 5-year figure is 0.93, and annualized covariance runs at 402.6 %².
In CPT's tracked universe of 33 assets, MAA sits right near the top at #1. The trailing year gives CPT the advantage: -0.4% versus -6.6%, a 6.2-point spread. The link looks structural: the rolling one-year correlation barely moved, holding between 0.89 and 0.95.
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 MAA: side by side
| CPT (Camden Property Trust) | MAA (Mid-America Apartment Communities) | |
|---|---|---|
| 1-year return | -0.4% | -6.6% |
| 5-year return | -15.4% | -19.3% |
| Volatility (ann.) | 21.3% | 20.3% |
| Beta vs S&P 500 | 0.55 | 0.49 |
| Max drawdown (3Y) | -21.7% | -26.4% |
| Market cap | $12.2B | $15.3B |
| P/E (trailing) | 35.5 | 37.7 |
| Dividend yield | 3.92% | 4.63% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | CPT | MAA |
|---|---|---|
| 2022 | -35.6% | -29.7% |
| 2023 | -7.6% | -11.1% |
| 2024 | +21.3% | +19.9% |
| 2025 | -1.5% | -6.4% |
| 2026 | -2.0% | -4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPT and MAA good diversifiers for each other?
No: a correlation of 0.93 means CPT and MAA tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CPT and MAA?
The CPT/MAA correlation stands at 0.93 on a 3-year window (1 year: 0.94, 5 years: 0.93), computed from weekly returns as of 2026-08-27.
Is MAA a good diversifier for CPT?
No: a correlation of 0.93 means CPT and MAA tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.93 mean?
A reading of 0.93 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cpt-vs-maa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpt-vs-maa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPT correlations · MAA correlations
