CUBE vs KIM: Correlation
How closely do CubeSmart (CUBE) and Kimco Realty (KIM) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and KIM?
On 3 years of weekly data the CUBE/KIM correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.77 over 1 year against 0.71 over 3. The 5-year figure is 0.62, and annualized covariance runs at 372.4 %².
Among the 24 assets we track against CUBE, KIM ranks #7 by 3-year correlation. On 12-month performance KIM holds a 7.6-point edge, +3.8% against +11.4%.
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.
CUBE vs KIM: side by side
| CUBE (CubeSmart) | KIM (Kimco Realty) | |
|---|---|---|
| 1-year return | +3.8% | +11.4% |
| 5-year return | -6.2% | +35.9% |
| Volatility (ann.) | 23.0% | 22.9% |
| Beta vs S&P 500 | 0.63 | 0.63 |
| Max drawdown (3Y) | -32.0% | -25.9% |
| Market cap | $9.0B | $16.0B |
| P/E (trailing) | 27.6 | 28.0 |
| Dividend yield | 5.22% | 4.29% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CUBE | KIM |
|---|---|---|
| 2022 | -26.3% | -10.8% |
| 2023 | +20.5% | +6.1% |
| 2024 | -4.5% | +15.0% |
| 2025 | -11.6% | -9.3% |
| 2026 | +15.7% | +20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBE and KIM good diversifiers for each other?
Only partially. A correlation of 0.71 means CUBE and KIM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CUBE and KIM?
The CUBE/KIM correlation stands at 0.71 on a 3-year window (1 year: 0.77, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is KIM a good diversifier for CUBE?
Only partially. A correlation of 0.71 means CUBE and KIM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 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.
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Related comparisons
Hubs: CUBE correlations · KIM correlations
