MAC vs UE: Correlation
How closely do Macerich Company (The) (MAC) and Urban Edge Properties (UE) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAC and UE?
On 3 years of weekly data the MAC/UE correlation comes out at 0.71, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 607.5 %².
UE is one of the assets that tracks MAC most closely: it ranks #3 out of the 19 assets we track against MAC. The last year tells two different stories: MAC led by 27.6 percentage points, +34.5% for MAC against +6.9% for UE. Risk is not evenly split, since MAC carries 1.6 times the volatility of the other side.
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.
MAC vs UE: side by side
| MAC (Macerich Company (The)) | UE (Urban Edge Properties) | |
|---|---|---|
| 1-year return | +34.5% | +6.9% |
| 5-year return | +75.7% | +37.5% |
| Volatility (ann.) | 36.7% | 23.3% |
| Beta vs S&P 500 | 1.22 | 0.70 |
| Max drawdown (3Y) | -39.6% | -29.7% |
| Market cap | $7.1B | $2.9B |
| P/E (trailing) | – | 40.2 |
| Dividend yield | 2.81% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAC | UE |
|---|---|---|
| 2022 | -31.6% | -22.8% |
| 2023 | +45.7% | +35.3% |
| 2024 | +34.5% | +21.7% |
| 2025 | -3.7% | -7.2% |
| 2026 | +31.6% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAC and UE good diversifiers for each other?
Only partially. A correlation of 0.71 means MAC and UE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MAC and UE?
The MAC/UE correlation stands at 0.71 on a 3-year window (1 year: 0.74, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is UE a good diversifier for MAC?
Only partially. A correlation of 0.71 means MAC and UE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 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/mac-vs-ue.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mac-vs-ue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MAC correlations · UE correlations
