Boston Properties Correlations

BXP Stock

USD 65.05 0.77 1.20%

The current 90-days correlation between Boston Properties and Alexandria Real Estate is 0.74 (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

Poor diversification

The correlation between Boston Properties and DJI is 0.76 (i.e., Poor 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.

Build AI portfolio with Boston Stock

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

0.76	Z	Zillow Group Class Earnings Call This Week	Pair Corr
0.74	FR	First Industrial Realty	Pair Corr
0.89	PK	Park Hotels Resorts	Pair Corr
0.69	PW	Power REIT Earnings Call This Week	Pair Corr
0.9	UE	Urban Edge Properties Earnings Call This Week	Pair Corr
0.75	WY	Weyerhaeuser	Pair Corr
0.85	EQIX	Equinix Earnings Call This Week	Pair Corr
0.78	ESBA	Empire State Realty Earnings Call This Week	Pair Corr
0.82	ESRT	Empire State Realty	Pair Corr
0.74	WHLR	Wheeler Real Estate Earnings Call This Week	Pair Corr
0.71	FISK	Empire State Realty Earnings Call This Week	Pair Corr
0.87	AAT	American Assets Trust	Pair Corr
0.75	AHH	Armada Hflr Pr Earnings Call This Week	Pair Corr
0.7	AHT	Ashford Hospitality Trust	Pair Corr
0.67	AIV	Apartment Investment and Earnings Call This Week	Pair Corr
0.88	AKR	Acadia Realty Trust	Pair Corr
0.67	ARE	Alexandria Real Estate	Pair Corr
0.77	AVB	AvalonBay Communities	Pair Corr
0.83	BDN	Brandywine Realty Trust	Pair Corr
0.8	BFS	Saul Centers	Pair Corr
0.68	BRT	BRT Realty Trust Earnings Call This Week	Pair Corr
0.74	BRX	Brixmor Property	Pair Corr
0.75	CDP	COPT Defense Properties	Pair Corr

Moving against Boston Stock

0.44	ADC	Agree Realty	Pair Corr
0.66	AMT	American Tower Corp Sell-off Trend	Pair Corr
0.58	CCI	Crown Castle	Pair Corr

Related Correlations Analysis

	SLG	DEI	KRC	ARE	VNO	BDN	HPP	HIW	CUZ	OFC
SLG		0.94	0.87	0.78	0.97	0.93	0.87	0.7	0.93	0.0	SLG
DEI	0.94		0.88	0.86	0.94	0.93	0.92	0.71	0.9	0.0	DEI
KRC	0.87	0.88		0.61	0.91	0.83	0.72	0.64	0.85	0.0	KRC
ARE	0.78	0.86	0.61		0.73	0.77	0.93	0.65	0.78	0.0	ARE
VNO	0.97	0.94	0.91	0.73		0.9	0.83	0.67	0.93	0.0	VNO
BDN	0.93	0.93	0.83	0.77	0.9		0.85	0.59	0.84	0.0	BDN
HPP	0.87	0.92	0.72	0.93	0.83	0.85		0.68	0.86	0.0	HPP
HIW	0.7	0.71	0.64	0.65	0.67	0.59	0.68		0.82	0.0	HIW
CUZ	0.93	0.9	0.85	0.78	0.93	0.84	0.86	0.82		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	+ 0.97	SLG
DEI	+ 0.94	SLG
VNO	+ 0.94	DEI
BDN	+ 0.93	SLG
CUZ	+ 0.93	SLG
BDN	+ 0.93	DEI

High negative correlations

OFC	- 0.0	CUZ
OFC	- 0.0	HIW
OFC	- 0.0	HPP
OFC	- 0.0	BDN
OFC	- 0.0	VNO
OFC	- 0.0	ARE

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SLG	1.95	0.01	0.00	(0.11)	0.00	0.00	3.77	(4.07)	14.98
DEI	2.01	(0.10)	0.00	(0.20)	0.00	0.00	4.05	(5.30)	15.26
KRC	1.86	(0.04)	0.00	(0.15)	0.00	0.00	3.62	(3.64)	14.19
ARE	1.66	(0.23)	0.00	(0.37)	0.00	0.00	3.15	(5.73)	12.78
VNO	2.43	0.08	0.00	(0.06)	0.00	0.00	4.01	(5.21)	16.39
BDN	1.82	(0.37)	0.00	1.57	0.00	0.00	2.57	(5.02)	13.18
HPP	3.35	(0.09)	0.00	(0.18)	0.00	0.00	6.82	(8.79)	24.14
HIW	1.52	0.17	0.09	0.08	2.01	(1.60)	2.91	(3.21)	10.10
CUZ	1.41	0.08	0.00	(0.03)	0.00	0.00	2.51	(3.22)	11.02
OFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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