FAF vs SAFE: Correlation
How closely do First American Corporation (New) (FAF) and Safehold Inc. New (SAFE) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAF and SAFE?
Across a 3-year window, the weekly returns of FAF and SAFE correlate at 0.62, strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.62). Stretching to 5 years gives 0.54, with an annualized covariance of 588.8 %².
In FAF's tracked universe of 11 assets, SAFE sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months FAF outperformed by 15.8 percentage points (+15.7% for FAF against -0.1% for SAFE).
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.
FAF vs SAFE: side by side
| FAF (First American Corporation (New)) | SAFE (Safehold Inc. New) | |
|---|---|---|
| 1-year return | +15.7% | -0.1% |
| 5-year return | +24.3% | -85.5% |
| Volatility (ann.) | 25.7% | 36.8% |
| Beta vs S&P 500 | 0.72 | 0.66 |
| Max drawdown (3Y) | -22.1% | -51.9% |
| Market cap | $7.6B | $1.1B |
| P/E (trailing) | 10.2 | 9.5 |
| Dividend yield | 2.99% | 4.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FAF | SAFE |
|---|---|---|
| 2022 | -30.6% | -61.0% |
| 2023 | +27.7% | -48.4% |
| 2024 | +0.4% | -18.2% |
| 2025 | +1.9% | -22.5% |
| 2026 | +23.3% | +14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAF and SAFE good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FAF and SAFE?
The FAF/SAFE correlation stands at 0.62 on a 3-year window (1 year: 0.49, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is SAFE a good diversifier for FAF?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/faf-vs-safe.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/faf-vs-safe/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FAF correlations · SAFE correlations
