Boston Properties Correlations

BXP Stock

USD 80.77 1.21 1.52%

The current 90-days correlation between Boston Properties and Alexandria Real Estate is 0.49 (i.e., Very weak 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

Weak diversification

The correlation between Boston Properties and DJI is 0.35 (i.e., 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

0.8	VNO-PL	Vornado Realty Trust	Pair Corr
0.88	VNO-PM	Vornado Realty Trust Potential Growth	Pair Corr
0.88	VNO-PN	Vornado Realty Trust	Pair Corr
0.92	VNO-PO	Vornado Realty Trust	Pair Corr
0.93	MITT-PA	AG Mortgage Investment	Pair Corr
0.92	MITT-PB	AG Mortgage Investment	Pair Corr
0.76	MITT-PC	AG Mortgage Investment	Pair Corr
0.7	EPRT	Essential Properties Sell-off Trend	Pair Corr
0.72	EQIX	Equinix	Pair Corr

Moving against Boston Stock

0.72	RC	Ready Capital Corp	Pair Corr
0.65	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.61	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.57	UK	Ucommune International	Pair Corr
0.53	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.53	AHT-PG	Ashford Hospitality Trust Downward Rally	Pair Corr
0.45	VTMX	Corporacin Inmobiliaria	Pair Corr
0.76	AHT	Ashford Hospitality Trust	Pair Corr
0.55	AHH	Armada Hflr Pr	Pair Corr
0.5	ECRO	Ecc Cap Corp	Pair Corr
0.33	AIV	Apartment Investment and	Pair Corr

Related Correlations Analysis

	SLG	DEI	KRC	ARE	VNO	BDN	HPP	HIW	CUZ	OFC
SLG		0.89	0.86	-0.4	0.92	0.38	-0.57	0.58	0.94	0.62	SLG
DEI	0.89		0.92	-0.31	0.96	0.64	-0.61	0.7	0.94	0.56	DEI
KRC	0.86	0.92		-0.09	0.93	0.66	-0.37	0.84	0.9	0.33	KRC
ARE	-0.4	-0.31	-0.09		-0.32	0.19	0.78	0.31	-0.32	-0.74	ARE
VNO	0.92	0.96	0.93	-0.32		0.55	-0.56	0.7	0.94	0.52	VNO
BDN	0.38	0.64	0.66	0.19	0.55		-0.14	0.76	0.54	0.1	BDN
HPP	-0.57	-0.61	-0.37	0.78	-0.56	-0.14		-0.06	-0.62	-0.78	HPP
HIW	0.58	0.7	0.84	0.31	0.7	0.76	-0.06		0.7	0.0	HIW
CUZ	0.94	0.94	0.9	-0.32	0.94	0.54	-0.62	0.7		0.63	CUZ
OFC	0.62	0.56	0.33	-0.74	0.52	0.1	-0.78	0.0	0.63		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	+ 0.96	DEI
CUZ	+ 0.94	SLG
CUZ	+ 0.94	DEI
CUZ	+ 0.94	VNO
VNO	+ 0.93	KRC
VNO	+ 0.92	SLG

High negative correlations

OFC	- 0.78	HPP
OFC	- 0.74	ARE
CUZ	- 0.62	HPP
HPP	- 0.61	DEI
HPP	- 0.57	SLG
HPP	- 0.56	VNO

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	1.44	0.24	0.15	0.31	1.34	(1.64)	3.46	(2.51)	9.86
DEI	1.34	0.29	0.18	0.38	1.35	(1.54)	2.79	(2.06)	8.58
KRC	1.35	0.12	0.09	0.19	1.34	(1.53)	3.71	(2.85)	8.91
ARE	1.09	(0.17)	0.00	(0.30)	0.00	0.00	2.06	(2.48)	5.36
VNO	1.32	0.23	0.14	0.32	1.29	(1.55)	3.05	(2.44)	10.57
BDN	1.63	0.02	0.02	0.10	2.94	(1.75)	3.61	(3.80)	18.66
HPP	2.70	(0.75)	0.00	(0.38)	0.00	0.00	4.21	(5.70)	17.20
HIW	0.95	(0.01)	(0.03)	0.08	1.14	(1.04)	1.84	(2.16)	5.78
CUZ	0.83	0.18	0.12	0.44	0.92	(0.88)	1.92	(1.82)	5.40
OFC	1.39	0.20	0.07	(1.62)	1.30	(1.67)	3.10	(2.44)	6.24

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