ESS vs UMH: Correlation
Measured on weekly returns over the past three years, Essex Property Trust (ESS) and UMH Properties, Inc. (UMH) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and UMH?
On 3 years of weekly data the ESS/UMH correlation comes out at 0.63, strong. The link has loosened recently: the 1-year correlation (0.47) runs below the 3-year figure (0.63). The 5-year figure is 0.64, and annualized covariance runs at 289.1 %².
By 3-year correlation, UMH places #16 of the 31 assets tracked against ESS. Twelve-month performance is nearly a tie, at +9.1% for ESS and +11.0% for UMH.
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 UMH: side by side
| ESS (Essex Property Trust) | UMH (UMH Properties, Inc.) | |
|---|---|---|
| 1-year return | +9.1% | +11.0% |
| 5-year return | +3.0% | -11.7% |
| Volatility (ann.) | 22.2% | 20.7% |
| Beta vs S&P 500 | 0.64 | 0.45 |
| Max drawdown (3Y) | -20.8% | -27.3% |
| Market cap | $19.4B | $1.4B |
| P/E (trailing) | 44.8 | 137.5 |
| Dividend yield | 3.58% | 5.40% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ESS | UMH |
|---|---|---|
| 2022 | -37.8% | -38.7% |
| 2023 | +22.0% | +0.2% |
| 2024 | +18.4% | +29.6% |
| 2025 | -5.0% | -11.0% |
| 2026 | +10.5% | +8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and UMH good diversifiers for each other?
Only partially. A correlation of 0.63 means ESS and UMH 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 ESS and UMH?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.47 over the last year and 0.64 over 5 years.
Is UMH a good diversifier for ESS?
Only partially. A correlation of 0.63 means ESS and UMH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ess-vs-umh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ess-vs-umh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESS correlations · UMH correlations
