FR vs. ADC
FR (First Industrial Realty Trust, Inc.) and ADC (Agree Realty Corporation) are both stocks. Both are in the Real Estate sector — FR in REIT - Industrial, ADC in REIT - Retail. Over the past 10 years, FR returned 12.22%/yr vs 9.63%/yr for ADC. At a 0.41 correlation, their price movements are largely independent.
Performance
FR vs. ADC - Performance Comparison
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Returns By Period
In the year-to-date period, FR achieves a 6.39% return, which is significantly higher than ADC's 1.77% return. Over the past 10 years, FR has outperformed ADC with an annualized return of 12.22%, while ADC has yielded a comparatively lower 9.63% annualized return.
FR
- 1D
- 0.58%
- 1M
- -1.08%
- YTD
- 6.39%
- 6M
- 9.78%
- 1Y
- 26.63%
- 3Y*
- 7.34%
- 5Y*
- 5.89%
- 10Y*
- 12.22%
ADC
- 1D
- -0.89%
- 1M
- -4.88%
- YTD
- 1.77%
- 6M
- -1.21%
- 1Y
- 0.57%
- 3Y*
- 8.22%
- 5Y*
- 4.50%
- 10Y*
- 9.63%
FR vs. ADC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FR First Industrial Realty Trust, Inc. | 6.39% | 18.17% | -2.01% | 11.91% | -25.37% | 60.33% | 4.24% | 47.37% | -5.61% | 15.50% |
ADC Agree Realty Corporation | 1.77% | 6.62% | 17.20% | -7.07% | 3.50% | 11.28% | -1.40% | 22.71% | 19.75% | 16.42% |
Correlation
The correlation between FR and ADC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 1994 | 0.41 |
The correlation between FR and ADC shifts across timeframes, from 0.41 (all time) to 0.58 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
FR:
$3.57
ADC:
$1.91
FR:
16.90
ADC:
37.62
FR:
8.06
ADC:
10.91
FR:
$744.49M
ADC:
$750.05M
FR:
$450.27M
ADC:
$667.57M
FR:
$506.99M
ADC:
$639.27M
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Return for Risk
FR vs. ADC — Risk / Return Rank
FR
ADC
FR vs. ADC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Industrial Realty Trust, Inc. (FR) and Agree Realty Corporation (ADC). 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.
| FR | ADC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.02 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 0.05 | +2.56 |
| Martin ratioReturn relative to average drawdown | 8.30 | 0.13 | +8.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FR | ADC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 0.04 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.24 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.41 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.38 | -0.18 |
Drawdowns
FR vs. ADC - Drawdown Comparison
The maximum FR drawdown since its inception was -95.42%, which is greater than ADC's maximum drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for FR and ADC.
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Drawdown Indicators
| FR | ADC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.42% | -70.25% | -25.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.24% | -11.14% | +0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -25.42% | -21.08% | -4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -35.95% | -29.52% | -6.43% |
Max Drawdown (10Y)Largest decline over 10 years | -41.12% | -39.00% | -2.12% |
Current DrawdownCurrent decline from peak | -6.21% | -11.14% | +4.93% |
Average DrawdownAverage peak-to-trough decline | -25.36% | -9.64% | -15.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 4.37% | -1.15% |
Volatility
FR vs. ADC - Volatility Comparison
First Industrial Realty Trust, Inc. (FR) has a higher volatility of 5.52% compared to Agree Realty Corporation (ADC) at 3.87%. This indicates that FR's price experiences larger fluctuations and is considered to be riskier than ADC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FR | ADC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 3.87% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 13.69% | 12.04% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.61% | 15.92% | +3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.81% | 18.79% | +4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.35% | 23.64% | +0.71% |
Dividends
FR vs. ADC - Dividend Comparison
FR's dividend yield for the trailing twelve months is around 3.04%, less than ADC's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADC Agree Realty Corporation | 4.35% | 4.28% | 4.26% | 4.64% | 3.95% | 3.65% | 3.61% | 3.25% | 3.65% | 3.94% | 4.17% | 5.43% |
FR First Industrial Realty Trust, Inc. | 3.04% | 3.11% | 2.95% | 2.43% | 2.45% | 1.63% | 2.37% | 2.22% | 3.01% | 2.67% | 2.71% | 2.30% |
Financials
FR vs. ADC - Financials Comparison
This section allows you to compare key financial metrics between First Industrial Realty Trust, Inc. and Agree Realty Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FR vs. ADC - Profitability Comparison
FR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Industrial Realty Trust, Inc. reported a gross profit of 141.21M and revenue of 194.83M. Therefore, the gross margin over that period was 72.5%.
ADC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Agree Realty Corporation reported a gross profit of 186.09M and revenue of 200.81M. Therefore, the gross margin over that period was 92.7%.
FR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Industrial Realty Trust, Inc. reported an operating income of 118.24M and revenue of 194.83M, resulting in an operating margin of 60.7%.
ADC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Agree Realty Corporation reported an operating income of 98.55M and revenue of 200.81M, resulting in an operating margin of 49.1%.
FR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Industrial Realty Trust, Inc. reported a net income of 155.84M and revenue of 194.83M, resulting in a net margin of 80.0%.
ADC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Agree Realty Corporation reported a net income of 60.19M and revenue of 200.81M, resulting in a net margin of 30.0%.
Frequently Asked Questions
FR and ADC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FR has higher volatility (5.52%) compared to ADC (3.87%). In terms of maximum drawdown, FR dropped -95.42% vs ADC's -70.25%.
FR currently has the higher Sharpe Ratio (1.36 vs 0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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