IRT vs UMH: Correlation
Measured on weekly returns over the past three years, Independence Realty Trust, Inc. (IRT) and UMH Properties, Inc. (UMH) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRT and UMH?
On 3 years of weekly data the IRT/UMH correlation comes out at 0.67, strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.67 over 3 years. The 5-year figure is 0.69, and annualized covariance runs at 342.8 %².
By 3-year correlation, UMH places #8 of the 16 assets tracked against IRT. Over the last 12 months UMH came out ahead by 14.5 percentage points (-3.5% against +11.0%).
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 UMH: side by side
| IRT (Independence Realty Trust, Inc.) | UMH (UMH Properties, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | +11.0% |
| 5-year return | -4.5% | -11.7% |
| Volatility (ann.) | 24.8% | 20.7% |
| Beta vs S&P 500 | 0.74 | 0.45 |
| Max drawdown (3Y) | -29.0% | -27.3% |
| Market cap | $4.0B | $1.4B |
| P/E (trailing) | 91.1 | 137.5 |
| Dividend yield | 4.15% | 5.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRT | UMH |
|---|---|---|
| 2022 | -32.3% | -38.7% |
| 2023 | -5.6% | +0.2% |
| 2024 | +34.3% | +29.6% |
| 2025 | -8.5% | -11.0% |
| 2026 | -4.1% | +8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRT and UMH good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IRT and UMH?
As of 2026-08-27, the correlation of weekly returns between IRT and UMH is 0.67 over 3 years, 0.46 over 1 year and 0.69 over 5 years.
Is UMH a good diversifier for IRT?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 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/irt-vs-umh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/irt-vs-umh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IRT correlations · UMH correlations
