MAA vs WM: Correlation
How closely do Mid-America Apartment Communities (MAA) and Waste Management (WM) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAA and WM?
Over the past 3 years, MAA and WM moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 138.8 %².
By 3-year correlation, WM places #18 of the 31 assets tracked against MAA. Twelve-month performance is nearly a tie, at -6.6% for MAA and -2.0% for WM. Stability stands out here, with the rolling one-year correlation confined to 0.25 through 0.46.
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 WM: side by side
| MAA (Mid-America Apartment Communities) | WM (Waste Management) | |
|---|---|---|
| 1-year return | -6.6% | -2.0% |
| 5-year return | -19.3% | +51.8% |
| Volatility (ann.) | 20.3% | 18.3% |
| Beta vs S&P 500 | 0.49 | 0.07 |
| Max drawdown (3Y) | -26.4% | -18.1% |
| Market cap | $15.3B | $87.0B |
| P/E (trailing) | 37.7 | 30.8 |
| Dividend yield | 4.63% | 1.60% |
| Sector / category | Real Estate | Industrials |
Year-by-year returns
| Year | MAA | WM |
|---|---|---|
| 2022 | -29.7% | -4.5% |
| 2023 | -11.1% | +16.2% |
| 2024 | +19.9% | +14.3% |
| 2025 | -6.4% | +10.5% |
| 2026 | -4.0% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAA and WM good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MAA and WM?
As of 2026-08-27, the correlation of weekly returns between MAA and WM is 0.37 over 3 years, 0.46 over 1 year and 0.45 over 5 years.
Is WM a good diversifier for MAA?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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/maa-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/maa-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MAA correlations · WM correlations
