Boston Properties Correlations

BXP Stock

USD 60.68 0.81 1.32%

The current 90-days correlation between Boston Properties and Alexandria Real Estate is 0.62 (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

Excellent diversification

The correlation between Boston Properties and DJI is -0.64 (i.e., Excellent 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 housing.

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

Moving together with Boston Stock

0.66	WRI	Washington Real Estate	Pair Corr
0.79	DXS	Dexus Earnings Call Tomorrow	Pair Corr
0.7	3I0	REXFORD INDREALTY	Pair Corr
0.83	SMWN	SM Wirtschaftsberatungs	Pair Corr
0.66	ESRT	Empire State Realty Earnings Call Next Week	Pair Corr
0.89	VO7	Vornado Realty Trust	Pair Corr
0.89	D8K	Douglas Emmett	Pair Corr
0.66	5QV	CITY OFFICE REIT Earnings Call This Week	Pair Corr
0.65	AAT	American Assets Trust	Pair Corr

Moving against Boston Stock

0.88	0FA	Farmland Partners Earnings Call Tomorrow	Pair Corr
0.84	5PP	LondonMetric Property Plc	Pair Corr
0.81	SGRO	Segro Plc Earnings Call This Week	Pair Corr
0.75	BEI-UN	Boardwalk Real Estate Earnings Call This Week	Pair Corr
0.72	O1A	One Liberty Properties	Pair Corr
0.61	6CL	DigitalBridge Group Earnings Call Next Week	Pair Corr
0.57	PRSR	PRS Reit PLC	Pair Corr
0.55	CAR-UN	Canadian Apartment Split	Pair Corr
0.52	FR	First Industrial Realty	Pair Corr
0.51	FQI	Digital Realty Trust	Pair Corr
0.78	IIP-UN	InterRent Real Estate	Pair Corr
0.56	RFF	Rural Funds Group Earnings Call This Week	Pair Corr
0.42	UK8	CubeSmart	Pair Corr
0.85	DHC	Diversified Healthcare	Pair Corr
0.84	AOO	Aedifica SA	Pair Corr
0.76	BNL	Broadstone Net Lease Earnings Call Tomorrow	Pair Corr
0.72	DEA	Eerly Govt Ppty	Pair Corr
0.61	AHH	Armada Hflr Pr	Pair Corr
0.57	EGP	EastGroup Properties	Pair Corr

Related Correlations Analysis

	ARE	HST	CPT	OHI	AGNC	UDR	ELS	LAMR	AMH	REXR
ARE		0.55	0.4	-0.11	0.71	0.64	0.53	0.43	0.27	-0.04	ARE
HST	0.55		0.69	0.07	0.79	0.88	0.7	0.38	0.07	-0.49	HST
CPT	0.4	0.69		0.0	0.73	0.8	0.25	0.22	0.37	-0.43	CPT
OHI	-0.11	0.07	0.0		-0.09	0.24	0.4	0.59	0.05	-0.41	OHI
AGNC	0.71	0.79	0.73	-0.09		0.85	0.49	0.42	-0.01	-0.39	AGNC
UDR	0.64	0.88	0.8	0.24	0.85		0.69	0.59	0.22	-0.52	UDR
ELS	0.53	0.7	0.25	0.4	0.49	0.69		0.6	0.07	-0.36	ELS
LAMR	0.43	0.38	0.22	0.59	0.42	0.59	0.6		-0.01	-0.19	LAMR
AMH	0.27	0.07	0.37	0.05	-0.01	0.22	0.07	-0.01		-0.06	AMH
REXR	-0.04	-0.49	-0.43	-0.41	-0.39	-0.52	-0.36	-0.19	-0.06		REXR
	ARE	HST	CPT	OHI	AGNC	UDR	ELS	LAMR	AMH	REXR

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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

UDR	+ 0.88	HST
UDR	+ 0.85	AGNC
UDR	+ 0.8	CPT
AGNC	+ 0.79	HST
AGNC	+ 0.73	CPT
AGNC	+ 0.71	ARE

High negative correlations

REXR	- 0.52	UDR
REXR	- 0.49	HST
REXR	- 0.43	CPT
REXR	- 0.41	OHI
REXR	- 0.39	AGNC
REXR	- 0.36	ELS

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
ARE	1.91	(0.05)	(0.02)	0.00	3.27	(1.66)	2.92	(5.45)	14.20
HST	1.20	0.10	0.08	0.15	1.20	(1.34)	2.41	(2.10)	6.47
CPT	0.96	0.08	0.03	0.26	1.15	(0.94)	1.67	(1.97)	6.25
OHI	0.90	0.17	0.06	(0.26)	1.07	(0.92)	1.72	(1.78)	6.74
AGNC	0.90	0.18	0.12	0.53	0.90	(1.03)	2.05	(1.46)	6.97
UDR	1.02	0.13	0.08	0.28	1.08	(1.09)	2.65	(1.54)	8.34
ELS	0.85	0.14	0.09	3.51	0.78	(0.92)	2.21	(1.56)	4.37
LAMR	0.90	0.08	0.04	0.26	0.97	(0.98)	2.20	(1.76)	4.83
AMH	1.05	(0.01)	(0.03)	0.05	1.30	(1.14)	2.02	(2.05)	7.05
REXR	1.20	(0.20)	0.00	(0.20)	0.00	0.00	2.08	(1.96)	9.72

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