ESS vs MDRR: Correlation
Essex Property Trust (ESS) and Medalist Diversified, Inc. (MDRR) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and MDRR?
Over the past 3 years, ESS and MDRR moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -116.4 %².
Within ESS's tracked universe of 31 assets, MDRR comes in at #25 by 3-year correlation. Twelve-month performance is nearly a tie, at +9.1% for ESS and +4.8% for MDRR.
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.
ESS vs MDRR: side by side
| ESS (Essex Property Trust) | MDRR (Medalist Diversified, Inc.) | |
|---|---|---|
| 1-year return | +9.1% | +4.8% |
| 5-year return | +3.0% | -31.3% |
| Volatility (ann.) | 22.2% | 28.1% |
| Beta vs S&P 500 | 0.64 | -0.02 |
| Max drawdown (3Y) | -20.8% | -29.5% |
| Market cap | $19.4B | – |
| P/E (trailing) | 44.8 | 3.1 |
| Dividend yield | 3.58% | 2.21% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ESS | MDRR |
|---|---|---|
| 2022 | -37.8% | -37.3% |
| 2023 | +22.0% | -4.0% |
| 2024 | +18.4% | +28.6% |
| 2025 | -5.0% | -5.5% |
| 2026 | +10.5% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and MDRR good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ESS and MDRR?
As of 2026-08-27, the correlation of weekly returns between ESS and MDRR is -0.19 over 3 years, -0.21 over 1 year and -0.04 over 5 years.
Is MDRR a good diversifier for ESS?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/ess-vs-mdrr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ess-vs-mdrr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESS correlations · MDRR correlations
