ELS vs REG: Correlation
Equity Lifestyle Properties, Inc. (ELS) and Regency Centers (REG) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELS and REG?
On 3 years of weekly data the ELS/REG correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.64 over 3. The 5-year figure is 0.61, and annualized covariance runs at 198.4 %².
Few assets follow ELS as closely as REG, which ranks #1 of 11 tracked partners. Twelve-month performance is nearly a tie, at +10.2% for ELS and +8.4% for REG.
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.
ELS vs REG: side by side
| ELS (Equity Lifestyle Properties, Inc.) | REG (Regency Centers) | |
|---|---|---|
| 1-year return | +10.2% | +8.4% |
| 5-year return | -12.6% | +35.2% |
| Volatility (ann.) | 17.5% | 17.8% |
| Beta vs S&P 500 | 0.07 | 0.34 |
| Max drawdown (3Y) | -21.0% | -15.1% |
| Market cap | $12.8B | $14.1B |
| P/E (trailing) | 31.2 | 25.5 |
| Dividend yield | 3.27% | 3.89% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | ELS | REG |
|---|---|---|
| 2022 | -24.5% | -13.6% |
| 2023 | +12.2% | +11.9% |
| 2024 | -2.8% | +14.9% |
| 2025 | -5.9% | -2.8% |
| 2026 | +7.3% | +11.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELS and REG good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ELS and REG?
The ELS/REG correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is REG a good diversifier for ELS?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/els-vs-reg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/els-vs-reg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELS correlations · REG correlations
