FBRT vs REFI: Correlation
Franklin BSP Realty Trust, Inc. (FBRT) and Chicago Atlantic Real Estate Finance, Inc. (REFI) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBRT and REFI?
Across a 3-year window, the weekly returns of FBRT and REFI correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.33, with an annualized covariance of 220.8 %².
Among the 15 assets we track against FBRT, REFI ranks #9 by 3-year correlation. Neither side won the trailing year by much: -17.1% against -12.6%.
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.
FBRT vs REFI: side by side
| FBRT (Franklin BSP Realty Trust, Inc.) | REFI (Chicago Atlantic Real Estate Finance, Inc.) | |
|---|---|---|
| 1-year return | -17.1% | -12.6% |
| 5-year return | -17.6% | +21.3% |
| Volatility (ann.) | 22.5% | 19.4% |
| Beta vs S&P 500 | 0.59 | 0.51 |
| Max drawdown (3Y) | -33.7% | -24.9% |
| Market cap | $0.7B | $0.3B |
| P/E (trailing) | 19.5 | 7.8 |
| Dividend yield | 13.14% | 17.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBRT | REFI |
|---|---|---|
| 2022 | -3.9% | +3.4% |
| 2023 | +16.6% | +23.7% |
| 2024 | +3.7% | +8.7% |
| 2025 | -9.2% | -8.7% |
| 2026 | -12.3% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBRT and REFI good diversifiers for each other?
To a limited degree. At 0.51 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 FBRT and REFI?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.49 over the last year and 0.33 over 5 years.
Is REFI a good diversifier for FBRT?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 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/fbrt-vs-refi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbrt-vs-refi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FBRT correlations · REFI correlations
