CUBE vs PLD: Correlation
CubeSmart (CUBE) and Prologis (PLD) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and PLD?
Across a 3-year window, the weekly returns of CUBE and PLD correlate at 0.72, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.72 over 3. Stretching to 5 years gives 0.76, with an annualized covariance of 428.4 %².
Within CUBE's tracked universe of 24 assets, PLD comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PLD ahead by 26.2 points (+3.8% versus +30.0%).
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 PLD: side by side
| CUBE (CubeSmart) | PLD (Prologis) | |
|---|---|---|
| 1-year return | +3.8% | +30.0% |
| 5-year return | -6.2% | +22.5% |
| Volatility (ann.) | 23.0% | 25.8% |
| Beta vs S&P 500 | 0.63 | 0.90 |
| Max drawdown (3Y) | -32.0% | -31.4% |
| Market cap | $9.0B | $137.9B |
| P/E (trailing) | 27.6 | 31.7 |
| Dividend yield | 5.22% | 2.92% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CUBE | PLD |
|---|---|---|
| 2022 | -26.3% | -31.3% |
| 2023 | +20.5% | +21.6% |
| 2024 | -4.5% | -18.1% |
| 2025 | -11.6% | +25.1% |
| 2026 | +15.7% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBE and PLD good diversifiers for each other?
Only partially. A correlation of 0.72 means CUBE and PLD 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 PLD?
The CUBE/PLD correlation stands at 0.72 on a 3-year window (1 year: 0.68, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is PLD a good diversifier for CUBE?
Only partially. A correlation of 0.72 means CUBE and PLD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cube-vs-pld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cube-vs-pld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CUBE correlations · PLD correlations
