Boston Properties Correlations

BXP Stock

USD 68.34 0.13 0.19%

The current 90-days correlation between Boston Properties and Alexandria Real Estate is 0.67 (i.e., Poor diversification). The correlation of Boston Properties is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Boston Properties Correlation With Market

Very weak diversification

The correlation between Boston Properties and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boston Properties and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Boston Properties. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

To learn how to invest in Boston Stock, please use our How to Invest in Boston Properties guide.

Moving together with Boston Stock

0.74	EQIX	Equinix	Pair Corr
0.77	RC	Ready Capital Corp	Pair Corr

Moving against Boston Stock

0.69	DX	Dynex Capital	Pair Corr
0.57	VICI	VICI Properties	Pair Corr
0.47	LXP	LXP Industrial Trust	Pair Corr
0.46	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.45	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.43	FR	First Industrial Realty	Pair Corr
0.43	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.42	O	Realty Income	Pair Corr
0.42	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.42	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.34	MITT-PB	AG Mortgage Investment	Pair Corr
0.32	MITT-PA	AG Mortgage Investment	Pair Corr
0.74	ACR	Acres Commercial Realty	Pair Corr
0.5	CDR-PB	Cedar Realty Trust	Pair Corr
0.49	CDR-PC	Cedar Realty Trust	Pair Corr
0.48	NREF-PA	NexPoint Real Estate	Pair Corr
0.39	WELL	Welltower	Pair Corr
0.39	FBRT	Franklin BSP Realty Potential Growth	Pair Corr
0.33	ELME	Elme Communities	Pair Corr

Related Correlations Analysis

	SLG	DEI	KRC	ARE	VNO	BDN	HPP	HIW	CUZ	OFC
SLG		0.84	0.78	-0.09	0.9	0.5	0.34	0.57	0.78	0.0	SLG
DEI	0.84		0.89	-0.06	0.83	0.61	0.25	0.65	0.57	0.0	DEI
KRC	0.78	0.89		-0.03	0.73	0.73	0.16	0.62	0.56	0.0	KRC
ARE	-0.09	-0.06	-0.03		-0.14	0.03	0.4	0.26	-0.05	0.0	ARE
VNO	0.9	0.83	0.73	-0.14		0.54	0.46	0.44	0.85	0.0	VNO
BDN	0.5	0.61	0.73	0.03	0.54		0.26	0.49	0.51	0.0	BDN
HPP	0.34	0.25	0.16	0.4	0.46	0.26		0.26	0.58	0.0	HPP
HIW	0.57	0.65	0.62	0.26	0.44	0.49	0.26		0.48	0.0	HIW
CUZ	0.78	0.57	0.56	-0.05	0.85	0.51	0.58	0.48		0.0	CUZ
OFC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		OFC
	SLG	DEI	KRC	ARE	VNO	BDN	HPP	HIW	CUZ	OFC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VNO	+ 0.9	SLG
KRC	+ 0.89	DEI
CUZ	+ 0.85	VNO
DEI	+ 0.84	SLG
VNO	+ 0.83	DEI
KRC	+ 0.78	SLG

High negative correlations

VNO	- 0.14	ARE
ARE	- 0.09	SLG
ARE	- 0.06	DEI
CUZ	- 0.05	ARE
ARE	- 0.03	KRC
OFC	- 0.0	CUZ

Risk-Adjusted Indicators

There is a big difference between Boston Stock performing well and Boston Properties Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Boston Properties' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SLG	1.62	(0.15)	(0.19)	2.90	(3.47)	8.94
DEI	1.78	(0.12)	(0.16)	3.28	(4.17)	10.12
KRC	1.80	(0.18)	(0.23)	2.99	(3.82)	8.14
ARE	1.23	(0.03)	(0.11)	2.70	(2.84)	7.58
VNO	2.00	(0.02)	(0.08)	3.56	(4.71)	9.79
BDN	1.66	(0.25)	(0.32)	2.64	(4.27)	10.62
HPP	3.59	0.08	(0.03)	8.01	(6.06)	21.47
HIW	1.28	0.00	(0.06)	2.75	(2.81)	7.07
CUZ	1.30	0.05	(0.01)	2.21	(2.94)	6.60
OFC	0.00	0.00	0.00	0.00	0.00	0.00

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