INVH vs IRT: Correlation
How closely do Invitation Homes (INVH) and Independence Realty Trust, Inc. (IRT) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVH and IRT?
Over the past 3 years, INVH and IRT moved with a correlation of 0.69, which is strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 359.6 %².
By 3-year correlation, IRT places #9 of the 28 assets tracked against INVH. Twelve-month performance is nearly a tie, at -1.9% for INVH and -3.5% for IRT.
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.
INVH vs IRT: side by side
| INVH (Invitation Homes) | IRT (Independence Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -1.9% | -3.5% |
| 5-year return | -16.8% | -4.5% |
| Volatility (ann.) | 21.2% | 24.8% |
| Beta vs S&P 500 | 0.50 | 0.74 |
| Max drawdown (3Y) | -30.9% | -29.0% |
| Market cap | $17.4B | $4.0B |
| P/E (trailing) | 27.3 | 91.1 |
| Dividend yield | 3.98% | 4.15% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | INVH | IRT |
|---|---|---|
| 2022 | -33.0% | -32.3% |
| 2023 | +19.7% | -5.6% |
| 2024 | -3.1% | +34.3% |
| 2025 | -9.7% | -8.5% |
| 2026 | +7.6% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVH and IRT good diversifiers for each other?
Only partially. A correlation of 0.69 means INVH and IRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between INVH and IRT?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.63 over the last year and 0.68 over 5 years.
Is IRT a good diversifier for INVH?
Only partially. A correlation of 0.69 means INVH and IRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 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/invh-vs-irt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/invh-vs-irt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INVH correlations · IRT correlations
