FR vs REXR: Correlation
Measured on weekly returns over the past three years, First Industrial Realty Trust, Inc. (FR) and Rexford Industrial Realty, Inc. (REXR) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FR and REXR?
On 3 years of weekly data the FR/REXR correlation comes out at 0.78, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.78 over 3. The 5-year figure is 0.82, and annualized covariance runs at 450.5 %².
By 3-year correlation, REXR places #6 of the 14 assets tracked against FR. Their recent paths diverged sharply: over the last 12 months FR outperformed by 29.8 percentage points (+23.0% for FR against -6.8% for REXR).
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.
FR vs REXR: side by side
| FR (First Industrial Realty Trust, Inc.) | REXR (Rexford Industrial Realty, Inc.) | |
|---|---|---|
| 1-year return | +23.0% | -6.8% |
| 5-year return | +26.5% | -29.5% |
| Volatility (ann.) | 22.2% | 25.9% |
| Beta vs S&P 500 | 0.70 | 0.83 |
| Max drawdown (3Y) | -25.1% | -41.9% |
| Market cap | $8.5B | $8.5B |
| P/E (trailing) | 22.7 | – |
| Dividend yield | 3.01% | 4.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FR | REXR |
|---|---|---|
| 2022 | -25.4% | -31.2% |
| 2023 | +11.9% | +5.6% |
| 2024 | -2.0% | -28.5% |
| 2025 | +18.2% | +4.7% |
| 2026 | +10.8% | -1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FR and REXR good diversifiers for each other?
To a limited degree. At 0.78 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 FR and REXR?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.70 over the last year and 0.82 over 5 years.
Is REXR a good diversifier for FR?
To a limited degree. At 0.78 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 0.78 mean?
On the −1 to +1 scale, 0.78 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/fr-vs-rexr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fr-vs-rexr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FR correlations · REXR correlations
