FRT vs SPG: Correlation
How closely do Federal Realty Investment Trust (FRT) and Simon Property Group (SPG) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and SPG?
On 3 years of weekly data the FRT/SPG correlation comes out at 0.71, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 313.6 %².
By 3-year correlation, SPG places #17 of the 46 assets tracked against FRT. Twelve-month performance is nearly a tie, at +21.6% for FRT and +26.3% for SPG. Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.86.
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 SPG: side by side
| FRT (Federal Realty Investment Trust) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | +21.6% | +26.3% |
| 5-year return | +18.8% | +110.2% |
| Volatility (ann.) | 19.5% | 22.7% |
| Beta vs S&P 500 | 0.53 | 0.79 |
| Max drawdown (3Y) | -27.4% | -24.3% |
| Market cap | $10.2B | $81.6B |
| P/E (trailing) | 23.6 | 15.2 |
| Dividend yield | 3.84% | 4.05% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | FRT | SPG |
|---|---|---|
| 2022 | -22.7% | -21.9% |
| 2023 | +6.6% | +29.2% |
| 2024 | +12.1% | +26.9% |
| 2025 | -5.9% | +12.9% |
| 2026 | +19.7% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and SPG good diversifiers for each other?
To a limited degree. At 0.71 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 SPG?
As of 2026-08-27, the correlation of weekly returns between FRT and SPG is 0.71 over 3 years, 0.74 over 1 year and 0.77 over 5 years.
Is SPG a good diversifier for FRT?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 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-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frt-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRT correlations · SPG correlations
