SPG vs TRT: Correlation
How closely do Simon Property Group (SPG) and Trio-Tech International (TRT) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPG and TRT?
Across a 3-year window, the weekly returns of SPG and TRT correlate at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.18 over 3 years. Stretching to 5 years gives -0.03, with an annualized covariance of -430.9 %².
By 3-year correlation, TRT places #30 of the 37 assets tracked against SPG. The last year tells two different stories: TRT led by 269.2 percentage points, +26.3% for SPG against +295.5% for TRT. Note the risk asymmetry: TRT runs 4.7 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.
SPG vs TRT: side by side
| SPG (Simon Property Group) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | +26.3% | +295.5% |
| 5-year return | +110.2% | +365.8% |
| Volatility (ann.) | 22.7% | 107.4% |
| Beta vs S&P 500 | 0.79 | 0.18 |
| Max drawdown (3Y) | -24.3% | -54.6% |
| Market cap | $81.6B | – |
| P/E (trailing) | 15.2 | 209.6 |
| Dividend yield | 4.05% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | SPG | TRT |
|---|---|---|
| 2022 | -21.9% | -66.5% |
| 2023 | +29.2% | +12.7% |
| 2024 | +26.9% | +14.6% |
| 2025 | +12.9% | +127.9% |
| 2026 | +18.7% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPG and TRT good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPG and TRT?
As of 2026-08-27, the correlation of weekly returns between SPG and TRT is -0.18 over 3 years, -0.35 over 1 year and -0.03 over 5 years.
Is TRT a good diversifier for SPG?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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/spg-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spg-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPG correlations · TRT correlations
