DLR vs FRT: Correlation
Digital Realty (DLR) and Federal Realty Investment Trust (FRT) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and FRT?
Across a 3-year window, the weekly returns of DLR and FRT correlate at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.34 over 3 years. Stretching to 5 years gives 0.41, with an annualized covariance of 180.2 %².
By 3-year correlation, FRT places #20 of the 30 assets tracked against DLR. On 12-month performance FRT holds a 5.2-point edge, +16.4% against +21.6%. On a rolling one-year basis the correlation drifted between 0.17 and 0.57, a moderate band.
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.
DLR vs FRT: side by side
| DLR (Digital Realty) | FRT (Federal Realty Investment Trust) | |
|---|---|---|
| 1-year return | +16.4% | +21.6% |
| 5-year return | +40.3% | +18.8% |
| Volatility (ann.) | 27.1% | 19.5% |
| Beta vs S&P 500 | 0.73 | 0.53 |
| Max drawdown (3Y) | -29.4% | -27.4% |
| Market cap | $72.5B | $10.2B |
| P/E (trailing) | 94.2 | 23.6 |
| Dividend yield | 2.52% | 3.84% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | DLR | FRT |
|---|---|---|
| 2022 | -41.0% | -22.7% |
| 2023 | +39.9% | +6.6% |
| 2024 | +35.9% | +12.1% |
| 2025 | -10.1% | -5.9% |
| 2026 | +25.8% | +19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and FRT good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DLR and FRT?
The DLR/FRT correlation stands at 0.34 on a 3-year window (1 year: 0.20, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is FRT a good diversifier for DLR?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/dlr-vs-frt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dlr-vs-frt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLR correlations · FRT correlations
