FR vs STAG: Correlation
How closely do First Industrial Realty Trust, Inc. (FR) and Stag Industrial, Inc. (STAG) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FR and STAG?
Over the past 3 years, FR and STAG moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.83 over 3. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 383.3 %².
Few assets follow FR as closely as STAG, which ranks #3 of 14 tracked partners. The last year tells two different stories: FR led by 18.9 percentage points, +23.0% for FR against +4.1% for STAG.
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 STAG: side by side
| FR (First Industrial Realty Trust, Inc.) | STAG (Stag Industrial, Inc.) | |
|---|---|---|
| 1-year return | +23.0% | +4.1% |
| 5-year return | +26.5% | +6.2% |
| Volatility (ann.) | 22.2% | 20.8% |
| Beta vs S&P 500 | 0.70 | 0.55 |
| Max drawdown (3Y) | -25.1% | -24.6% |
| Market cap | $8.5B | $7.3B |
| P/E (trailing) | 22.7 | 28.5 |
| Dividend yield | 3.01% | 4.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FR | STAG |
|---|---|---|
| 2022 | -25.4% | -29.6% |
| 2023 | +11.9% | +26.8% |
| 2024 | -2.0% | -10.3% |
| 2025 | +18.2% | +13.3% |
| 2026 | +10.8% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FR and STAG good diversifiers for each other?
No. With a correlation of 0.83, FR and STAG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FR and STAG?
As of 2026-08-27, the correlation of weekly returns between FR and STAG is 0.83 over 3 years, 0.82 over 1 year and 0.85 over 5 years.
Is STAG a good diversifier for FR?
No. With a correlation of 0.83, FR and STAG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 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/fr-vs-stag.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: FR correlations · STAG correlations
