IRT vs MAA: Correlation
Measured on weekly returns over the past three years, Independence Realty Trust, Inc. (IRT) and Mid-America Apartment Communities (MAA) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRT and MAA?
Over the past 3 years, IRT and MAA moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 425.5 %².
MAA is one of the assets that tracks IRT most closely: it ranks #1 out of the 16 assets we track against IRT. Twelve-month performance is nearly a tie, at -3.5% for IRT and -6.6% for MAA.
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.
IRT vs MAA: side by side
| IRT (Independence Realty Trust, Inc.) | MAA (Mid-America Apartment Communities) | |
|---|---|---|
| 1-year return | -3.5% | -6.6% |
| 5-year return | -4.5% | -19.3% |
| Volatility (ann.) | 24.8% | 20.3% |
| Beta vs S&P 500 | 0.74 | 0.49 |
| Max drawdown (3Y) | -29.0% | -26.4% |
| Market cap | $4.0B | $15.3B |
| P/E (trailing) | 91.1 | 37.7 |
| Dividend yield | 4.15% | 4.63% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | IRT | MAA |
|---|---|---|
| 2022 | -32.3% | -29.7% |
| 2023 | -5.6% | -11.1% |
| 2024 | +34.3% | +19.9% |
| 2025 | -8.5% | -6.4% |
| 2026 | -4.1% | -4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRT and MAA good diversifiers for each other?
No. With a correlation of 0.85, IRT and MAA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between IRT and MAA?
As of 2026-08-27, the correlation of weekly returns between IRT and MAA is 0.85 over 3 years, 0.83 over 1 year and 0.83 over 5 years.
Is MAA a good diversifier for IRT?
No. With a correlation of 0.85, IRT and MAA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/irt-vs-maa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/irt-vs-maa/)
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Related comparisons
Hubs: IRT correlations · MAA correlations
