FRT vs SKT: Correlation
How closely do Federal Realty Investment Trust (FRT) and Tanger Inc. (SKT) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and SKT?
On 3 years of weekly data the FRT/SKT correlation comes out at 0.66, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 303.3 %².
Among the 46 assets we track against FRT, SKT ranks #21 by 3-year correlation. On 12-month performance FRT holds a 6.7-point edge, +21.6% against +14.9%.
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 SKT: side by side
| FRT (Federal Realty Investment Trust) | SKT (Tanger Inc.) | |
|---|---|---|
| 1-year return | +21.6% | +14.9% |
| 5-year return | +18.8% | +178.9% |
| Volatility (ann.) | 19.5% | 23.6% |
| Beta vs S&P 500 | 0.53 | 0.60 |
| Max drawdown (3Y) | -27.4% | -21.0% |
| Market cap | $10.2B | $4.5B |
| P/E (trailing) | 23.6 | 34.6 |
| Dividend yield | 3.84% | 3.18% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | FRT | SKT |
|---|---|---|
| 2022 | -22.7% | -2.3% |
| 2023 | +6.6% | +62.1% |
| 2024 | +12.1% | +27.7% |
| 2025 | -5.9% | +1.4% |
| 2026 | +19.7% | +15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and SKT good diversifiers for each other?
To a limited degree. At 0.66 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 FRT and SKT?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.72 over the last year and 0.69 over 5 years.
Is SKT a good diversifier for FRT?
To a limited degree. At 0.66 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 0.66 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/frt-vs-skt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frt-vs-skt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRT correlations · SKT correlations
