KRC vs PDM: Correlation
How closely do Kilroy Realty Corporation (KRC) and Piedmont Realty Trust, Inc. (PDM) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KRC and PDM?
Across a 3-year window, the weekly returns of KRC and PDM correlate at 0.79, strong. The past 12 months show a weaker link (0.66) than the 3-year average (0.79). Stretching to 5 years gives 0.80, with an annualized covariance of 987.8 %².
Among the 16 assets we track against KRC, PDM ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PDM ahead by 21.3 points (-5.3% versus +16.0%).
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.
KRC vs PDM: side by side
| KRC (Kilroy Realty Corporation) | PDM (Piedmont Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -5.3% | +16.0% |
| 5-year return | -26.0% | -29.9% |
| Volatility (ann.) | 35.5% | 35.3% |
| Beta vs S&P 500 | 1.02 | 0.95 |
| Max drawdown (3Y) | -35.3% | -46.4% |
| Market cap | $4.3B | $1.2B |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 5.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KRC | PDM |
|---|---|---|
| 2022 | -39.2% | -46.8% |
| 2023 | +10.1% | -14.8% |
| 2024 | +7.8% | +37.2% |
| 2025 | -2.0% | -7.3% |
| 2026 | +1.5% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KRC and PDM good diversifiers for each other?
To a limited degree. At 0.79 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 KRC and PDM?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.66 over the last year and 0.80 over 5 years.
Is PDM a good diversifier for KRC?
To a limited degree. At 0.79 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 0.79 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/krc-vs-pdm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/krc-vs-pdm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KRC correlations · PDM correlations
