CPT vs PDEX: Correlation
Camden Property Trust (CPT) and Pro-Dex, Inc. (PDEX) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPT and PDEX?
Over the past 3 years, CPT and PDEX moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -234.1 %².
Among the 33 assets we track against CPT, PDEX ranks #25 by 3-year correlation. The last year tells two different stories: PDEX led by 42.9 percentage points, -0.4% for CPT against +42.5% for PDEX. One caveat on sizing: PDEX is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PDEX: side by side
| CPT (Camden Property Trust) | PDEX (Pro-Dex, Inc.) | |
|---|---|---|
| 1-year return | -0.4% | +42.5% |
| 5-year return | -15.4% | +152.4% |
| Volatility (ann.) | 21.3% | 59.6% |
| Beta vs S&P 500 | 0.55 | 0.17 |
| Max drawdown (3Y) | -21.7% | -65.3% |
| Market cap | $12.2B | $0.2B |
| P/E (trailing) | 35.5 | 17.5 |
| Dividend yield | 3.92% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CPT | PDEX |
|---|---|---|
| 2022 | -35.6% | -31.5% |
| 2023 | -7.6% | +10.2% |
| 2024 | +21.3% | +166.8% |
| 2025 | -1.5% | -17.7% |
| 2026 | -2.0% | +68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPT and PDEX good diversifiers for each other?
Yes. With a correlation of -0.18, CPT and PDEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CPT and PDEX?
The CPT/PDEX correlation stands at -0.18 on a 3-year window (1 year: -0.20, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is PDEX a good diversifier for CPT?
Yes. With a correlation of -0.18, CPT and PDEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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-pdex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpt-vs-pdex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPT correlations · PDEX correlations
