IRT vs UDR: Correlation
How closely do Independence Realty Trust, Inc. (IRT) and UDR, Inc. (UDR) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRT and UDR?
On 3 years of weekly data the IRT/UDR correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 422.3 %².
By 3-year correlation, UDR places #4 of the 16 assets tracked against IRT. Twelve-month performance is nearly a tie, at -3.5% for IRT and -0.6% for UDR.
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 UDR: side by side
| IRT (Independence Realty Trust, Inc.) | UDR (UDR, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | -0.6% |
| 5-year return | -4.5% | -15.5% |
| Volatility (ann.) | 24.8% | 21.1% |
| Beta vs S&P 500 | 0.74 | 0.54 |
| Max drawdown (3Y) | -29.0% | -24.9% |
| Market cap | $4.0B | $13.6B |
| P/E (trailing) | 91.1 | 23.9 |
| Dividend yield | 4.15% | 4.56% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | IRT | UDR |
|---|---|---|
| 2022 | -32.3% | -33.4% |
| 2023 | -5.6% | +3.1% |
| 2024 | +34.3% | +18.3% |
| 2025 | -8.5% | -11.8% |
| 2026 | -4.1% | +4.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRT and UDR good diversifiers for each other?
No: a correlation of 0.81 means IRT and UDR tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between IRT and UDR?
The IRT/UDR correlation stands at 0.81 on a 3-year window (1 year: 0.75, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is UDR a good diversifier for IRT?
No: a correlation of 0.81 means IRT and UDR tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 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/irt-vs-udr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/irt-vs-udr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRT correlations · UDR correlations
