SPG vs. ARE
SPG (Simon Property Group, Inc.) and ARE (Alexandria Real Estate Equities, Inc.) are both stocks. Both are in the Real Estate sector — SPG in REIT - Retail, ARE in REIT - Office. Over the past 10 years, SPG returned 5.70%/yr vs -3.09%/yr for ARE. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
SPG vs. ARE - Performance Comparison
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Returns By Period
In the year-to-date period, SPG achieves a 18.54% return, which is significantly higher than ARE's 5.30% return. Over the past 10 years, SPG has outperformed ARE with an annualized return of 5.70%, while ARE has yielded a comparatively lower -3.09% annualized return.
SPG
- 1D
- 1.53%
- 1M
- 6.12%
- YTD
- 18.54%
- 6M
- 17.55%
- 1Y
- 42.92%
- 3Y*
- 32.39%
- 5Y*
- 16.45%
- 10Y*
- 5.70%
ARE
- 1D
- -0.59%
- 1M
- 4.88%
- YTD
- 5.30%
- 6M
- 7.55%
- 1Y
- -24.20%
- 3Y*
- -18.34%
- 5Y*
- -19.31%
- 10Y*
- -3.09%
SPG vs. ARE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPG Simon Property Group, Inc. | 18.54% | 12.94% | 26.92% | 29.24% | -21.91% | 95.72% | -38.64% | -6.74% | 2.55% | 0.98% |
ARE Alexandria Real Estate Equities, Inc. | 5.30% | -46.60% | -19.44% | -9.11% | -32.62% | 28.09% | 13.27% | 44.04% | -8.97% | 20.95% |
Correlation
The correlation between SPG and ARE 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 | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since May 28, 1997 | 0.57 |
The correlation between SPG and ARE shifts across timeframes, from 0.44 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SPG:
$17.14
ARE:
-$8.32
SPG:
7.91
ARE:
2.23
SPG:
$6.65B
ARE:
$2.90B
SPG:
$5.71B
ARE:
$1.98B
SPG:
$7.77B
ARE:
$646.49M
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Return for Risk
SPG vs. ARE — Risk / Return Rank
SPG
ARE
SPG vs. ARE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simon Property Group, Inc. (SPG) and Alexandria Real Estate Equities, Inc. (ARE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPG | ARE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +3.66 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.93 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | -0.47 | +4.21 |
| Martin ratioReturn relative to average drawdown | 13.43 | -0.74 | +14.16 |
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Drawdowns
SPG vs. ARE - Drawdown Comparison
The maximum SPG drawdown since its inception was -77.00%, roughly equal to the maximum ARE drawdown of -77.92%. Use the drawdown chart below to compare losses from any high point for SPG and ARE.
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Drawdown Indicators
| SPG | ARE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.00% | -77.92% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -51.61% | +40.07% |
Max Drawdown (3Y)Largest decline over 3 years | -24.32% | -65.64% | +41.32% |
Max Drawdown (5Y)Largest decline over 5 years | -45.84% | -77.92% | +32.08% |
Max Drawdown (10Y)Largest decline over 10 years | -77.00% | -77.92% | +0.92% |
Current DrawdownCurrent decline from peak | -2.04% | -72.28% | +70.24% |
Average DrawdownAverage peak-to-trough decline | -13.83% | -17.79% | +3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 32.97% | -29.77% |
Volatility
SPG vs. ARE - Volatility Comparison
The current volatility for Simon Property Group, Inc. (SPG) is 6.22%, while Alexandria Real Estate Equities, Inc. (ARE) has a volatility of 14.09%. This indicates that SPG experiences smaller price fluctuations and is considered to be less risky than ARE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPG | ARE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | 14.09% | -7.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 31.60% | -17.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 44.55% | -25.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.48% | 33.12% | -6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.12% | 29.31% | +7.81% |
Dividends
SPG vs. ARE - Dividend Comparison
SPG's dividend yield for the trailing twelve months is around 4.10%, less than ARE's 8.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARE Alexandria Real Estate Equities, Inc. | 8.04% | 9.56% | 5.32% | 3.91% | 3.24% | 2.01% | 2.38% | 2.48% | 3.24% | 2.64% | 2.91% | 3.38% |
SPG Simon Property Group, Inc. | 4.10% | 4.62% | 4.70% | 5.22% | 5.87% | 3.66% | 7.04% | 5.57% | 4.70% | 4.16% | 3.66% | 3.11% |
Financials
SPG vs. ARE - Financials Comparison
This section allows you to compare key financial metrics between Simon Property Group, Inc. and Alexandria Real Estate Equities, Inc.. 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
SPG vs. ARE - Profitability Comparison
SPG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a gross profit of 1.45B and revenue of 1.76B. Therefore, the gross margin over that period was 82.5%.
ARE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported a gross profit of 446.88M and revenue of 671.02M. Therefore, the gross margin over that period was 66.6%.
SPG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported an operating income of 762.16M and revenue of 1.76B, resulting in an operating margin of 43.4%.
ARE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported an operating income of 412.20M and revenue of 671.02M, resulting in an operating margin of 61.4%.
SPG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a net income of 1.48K and revenue of 1.76B, resulting in a net margin of 0.0%.
ARE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Alexandria Real Estate Equities, Inc. reported a net income of 358.87M and revenue of 671.02M, resulting in a net margin of 53.5%.
Frequently Asked Questions
SPG and ARE 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.
ARE has higher volatility (14.09%) compared to SPG (6.22%). In terms of maximum drawdown, SPG dropped -77.00% vs ARE's -77.92%.
SPG currently has the higher Sharpe Ratio (2.27 vs -0.55), 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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