COV.PA vs. AVB

Last updated Jun 5, 2026

COV.PA (Covivio SA) and AVB (AvalonBay Communities, Inc.) are both stocks. Both are in the Real Estate sector — COV.PA in REIT - Diversified, AVB in REIT - Residential. Over the past 10 years, COV.PA returned 0.55%/yr vs 4.33%/yr for AVB. At a 0.21 correlation, their price movements are largely independent.

Performance

COV.PA vs. AVB - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Covivio SA (COV.PA) and AvalonBay Communities, Inc. (AVB). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

COV.PA is traded in EUR, while AVB is traded in USD. To make them comparable, the AVB values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, COV.PA achieves a -2.85% return, which is significantly lower than AVB's 7.88% return. Over the past 10 years, COV.PA has underperformed AVB with an annualized return of 0.55%, while AVB has yielded a comparatively higher 4.33% annualized return.

COV.PA

• 1D: 0.66%
• 1M: -3.25%
• YTD: -2.85%
• 6M: 1.26%
• 1Y: 7.18%
• 3Y*: 9.01%
• 5Y*: -3.20%
• 10Y*: 0.55%

AVB

• 1D: 0.00%
• 1M: 5.43%
• YTD: 7.88%
• 6M: 10.14%
• 1Y: -4.04%
• 3Y*: 1.52%
• 5Y*: 2.45%
• 10Y*: 4.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COV.PA vs. AVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COV.PA Covivio SA	-2.85%	18.51%	7.76%	-7.99%	-19.04%	0.60%	-19.00%	26.14%	-6.51%	15.27%
AVB AvalonBay Communities, Inc.	6.56%	-24.74%	29.46%	16.73%	-29.83%	74.30%	-26.85%	26.90%	5.74%	-8.88%

Correlation

The correlation between COV.PA and AVB is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007	0.21

The correlation between COV.PA and AVB shifts across timeframes, from 0.10 (1 year) to 0.22 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

COV.PA vs. AVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COV.PA

COV.PA Risk / Return Rank: 50
COV.PA Sharpe Ratio Rank: 53
COV.PA Sortino Ratio Rank: 46
COV.PA Omega Ratio Rank: 45
COV.PA Calmar Ratio Rank: 52
COV.PA Martin Ratio Rank: 53

AVB

AVB Risk / Return Rank: 32
AVB Sharpe Ratio Rank: 34
AVB Sortino Ratio Rank: 28
AVB Omega Ratio Rank: 28
AVB Calmar Ratio Rank: 36
AVB Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COV.PA vs. AVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Covivio SA (COV.PA) and AvalonBay Communities, Inc. (AVB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	COV.PA	AVB	Difference
Sharpe ratio: Return per unit of total volatility	0.34	-0.20	+0.54
Sortino ratio: Return per unit of downside risk	0.67	-0.14	+0.82
Omega ratio: Gain probability vs. loss probability	1.08	0.98	+0.10
Calmar ratio: Return relative to maximum drawdown	0.43	-0.19	+0.62
Martin ratio: Return relative to average drawdown	1.05	-0.33	+1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COV.PA vs. AVB - Sharpe Ratio Comparison

The current COV.PA Sharpe Ratio is 0.34, which is higher than the AVB Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of COV.PA and AVB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COV.PA	AVB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	-0.20	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.11	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.17	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.23	+0.14

Drawdowns

COV.PA vs. AVB - Drawdown Comparison

The maximum COV.PA drawdown since its inception was -77.24%, which is greater than AVB's maximum drawdown of -60.70%. Use the drawdown chart below to compare losses from any high point for COV.PA and AVB.

Drawdown Indicators

	COV.PA	AVB	Difference
Max Drawdown Largest peak-to-trough decline	-77.24%	-60.70%	-16.54%
Max Drawdown (1Y) Largest decline over 1 year	-16.90%	-21.27%	+4.37%
Max Drawdown (3Y) Largest decline over 3 years	-21.91%	-35.30%	+13.39%
Max Drawdown (5Y) Largest decline over 5 years	-49.90%	-38.19%	-11.71%
Max Drawdown (10Y) Largest decline over 10 years	-64.16%	-46.59%	-17.57%
Current Drawdown Current decline from peak	-31.71%	-22.75%	-8.96%
Average Drawdown Average peak-to-trough decline	-20.21%	-15.66%	-4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.88%	12.34%	-5.46%

Volatility

COV.PA vs. AVB - Volatility Comparison

Covivio SA (COV.PA) and AvalonBay Communities, Inc. (AVB) have volatilities of 5.72% and 5.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COV.PA	AVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.72%	5.55%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	18.11%	15.42%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	20.12%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.82%	22.03%	+4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.90%	25.02%	+4.88%

Dividends

COV.PA vs. AVB - Dividend Comparison

COV.PA's dividend yield for the trailing twelve months is around 2.80%, less than AVB's 3.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVB AvalonBay Communities, Inc.	3.75%	3.86%	3.09%	3.53%	3.94%	2.52%	3.96%	2.90%	3.38%	3.18%	3.05%	2.72%
COV.PA Covivio SA	2.80%	1.79%	6.77%	5.05%	6.76%	4.99%	6.37%	4.55%	5.34%	1.09%	3.72%	1.58%

Financials

Frequently Asked Questions

Can I hold both COV.PA and AVB in my portfolio?

COV.PA and AVB have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.