PLD vs SPG: Correlation
How closely do Prologis (PLD) and Simon Property Group (SPG) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLD and SPG?
On 3 years of weekly data the PLD/SPG correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.59 over 1 year against 0.67 over 3. The 5-year figure is 0.59, and annualized covariance runs at 393.7 %².
Within PLD's tracked universe of 40 assets, SPG comes in at #17 by 3-year correlation. Neither side won the trailing year by much: +30.0% against +26.3%. Across three years, the rolling one-year figure varied moderately, from 0.50 to 0.75.
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.
PLD vs SPG: side by side
| PLD (Prologis) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | +30.0% | +26.3% |
| 5-year return | +22.5% | +110.2% |
| Volatility (ann.) | 25.8% | 22.7% |
| Beta vs S&P 500 | 0.90 | 0.79 |
| Max drawdown (3Y) | -31.4% | -24.3% |
| Market cap | $137.9B | $81.6B |
| P/E (trailing) | 31.7 | 15.2 |
| Dividend yield | 2.92% | 4.05% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | PLD | SPG |
|---|---|---|
| 2022 | -31.3% | -21.9% |
| 2023 | +21.6% | +29.2% |
| 2024 | -18.1% | +26.9% |
| 2025 | +25.1% | +12.9% |
| 2026 | +12.8% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLD and SPG good diversifiers for each other?
Only partially. A correlation of 0.67 means PLD and SPG 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 PLD and SPG?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.59 over the last year and 0.59 over 5 years.
Is SPG a good diversifier for PLD?
Only partially. A correlation of 0.67 means PLD and SPG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 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/pld-vs-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pld-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PLD correlations · SPG correlations
