FRT vs PDEX: Correlation
How closely do Federal Realty Investment Trust (FRT) and Pro-Dex, Inc. (PDEX) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and PDEX?
On 3 years of weekly data the FRT/PDEX correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is -0.05, and annualized covariance runs at -206.8 %².
Within FRT's tracked universe of 46 assets, PDEX comes in at #38 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PDEX outperformed by 20.9 percentage points (+21.6% for FRT against +42.5% for PDEX). Note the risk asymmetry: PDEX runs 3.1 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 PDEX: side by side
| FRT (Federal Realty Investment Trust) | PDEX (Pro-Dex, Inc.) | |
|---|---|---|
| 1-year return | +21.6% | +42.5% |
| 5-year return | +18.8% | +152.4% |
| Volatility (ann.) | 19.5% | 59.6% |
| Beta vs S&P 500 | 0.53 | 0.17 |
| Max drawdown (3Y) | -27.4% | -65.3% |
| Market cap | $10.2B | $0.2B |
| P/E (trailing) | 23.6 | 17.5 |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | FRT | PDEX |
|---|---|---|
| 2022 | -22.7% | -31.5% |
| 2023 | +6.6% | +10.2% |
| 2024 | +12.1% | +166.8% |
| 2025 | -5.9% | -17.7% |
| 2026 | +19.7% | +68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and PDEX good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRT and PDEX?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.26 over the last year and -0.05 over 5 years.
Is PDEX a good diversifier for FRT?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 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-pdex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/frt-vs-pdex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRT correlations · PDEX correlations
