DEI vs ESRT: Correlation
Douglas Emmett, Inc. (DEI) and Empire State Realty Trust, Inc. (ESRT) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DEI and ESRT?
On 3 years of weekly data the DEI/ESRT correlation comes out at 0.67, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.67). The 5-year figure is 0.71, and annualized covariance runs at 743.6 %².
By 3-year correlation, ESRT places #10 of the 24 assets tracked against DEI. Correlation aside, the last 12 months split them widely, with DEI ahead by 16.5 points (-21.1% versus -37.6%).
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.
DEI vs ESRT: side by side
| DEI (Douglas Emmett, Inc.) | ESRT (Empire State Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -21.1% | -37.6% |
| 5-year return | -52.6% | -50.4% |
| Volatility (ann.) | 35.7% | 31.0% |
| Beta vs S&P 500 | 0.99 | 0.87 |
| Max drawdown (3Y) | -51.8% | -58.1% |
| Market cap | $2.4B | $1.4B |
| P/E (trailing) | – | 232.0 |
| Dividend yield | 6.35% | 2.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DEI | ESRT |
|---|---|---|
| 2022 | -50.9% | -22.8% |
| 2023 | -1.9% | +46.3% |
| 2024 | +34.6% | +8.0% |
| 2025 | -37.5% | -35.7% |
| 2026 | +12.1% | -27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DEI and ESRT good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DEI and ESRT?
The DEI/ESRT correlation stands at 0.67 on a 3-year window (1 year: 0.48, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is ESRT a good diversifier for DEI?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/dei-vs-esrt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dei-vs-esrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DEI correlations · ESRT correlations
