FRT vs PAPL: Correlation
Measured on weekly returns over the past three years, Federal Realty Investment Trust (FRT) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and PAPL?
Over the past 3 years, FRT and PAPL moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.19). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -628.5 %².
Among the 46 assets we track against FRT, PAPL ranks #40 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRT ahead by 92.3 points (+21.6% versus -70.7%). Note the risk asymmetry: PAPL runs 9.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FRT vs PAPL: side by side
| FRT (Federal Realty Investment Trust) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +21.6% | -70.7% |
| 5-year return | +18.8% | n/a |
| Volatility (ann.) | 19.5% | 181.2% |
| Beta vs S&P 500 | 0.53 | -0.73 |
| Max drawdown (3Y) | -27.4% | -99.4% |
| Market cap | $10.2B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | FRT | PAPL |
|---|---|---|
| 2022 | -22.7% | – |
| 2023 | +6.6% | – |
| 2024 | +12.1% | -74.7% |
| 2025 | -5.9% | -84.4% |
| 2026 | +19.7% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and PAPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRT and PAPL?
As of 2026-08-27, the correlation of weekly returns between FRT and PAPL is -0.19 over 3 years, 0.01 over 1 year and n/a over 5 years.
Is PAPL a good diversifier for FRT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 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/frt-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frt-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRT correlations · PAPL correlations
