MAA vs PAPL: Correlation
How closely do Mid-America Apartment Communities (MAA) and Pineapple Financial Inc. (PAPL) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAA and PAPL?
On 3 years of weekly data the MAA/PAPL correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.14 versus -0.25 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -888.2 %².
Among the 31 assets we track against MAA, PAPL sits near the bottom by co-movement, at rank #27. The last year tells two different stories: MAA led by 64.1 percentage points, -6.6% for MAA against -70.7% for PAPL. Note the risk asymmetry: PAPL runs 8.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MAA vs PAPL: side by side
| MAA (Mid-America Apartment Communities) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | -6.6% | -70.7% |
| 5-year return | -19.3% | n/a |
| Volatility (ann.) | 20.3% | 181.2% |
| Beta vs S&P 500 | 0.49 | -0.73 |
| Max drawdown (3Y) | -26.4% | -99.4% |
| Market cap | $15.3B | – |
| P/E (trailing) | 37.7 | – |
| Dividend yield | 4.63% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | MAA | PAPL |
|---|---|---|
| 2022 | -29.7% | – |
| 2023 | -11.1% | – |
| 2024 | +19.9% | -74.7% |
| 2025 | -6.4% | -84.4% |
| 2026 | -4.0% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAA and PAPL good diversifiers for each other?
Yes. With a correlation of -0.25, MAA and PAPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MAA and PAPL?
As of 2026-08-27, the correlation of weekly returns between MAA and PAPL is -0.25 over 3 years, -0.14 over 1 year and n/a over 5 years.
Is PAPL a good diversifier for MAA?
Yes. With a correlation of -0.25, MAA and PAPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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.
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Related comparisons
Hubs: MAA correlations · PAPL correlations
