AAT vs BXP: Correlation
American Assets Trust, Inc. (AAT) and BXP, Inc. (BXP) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAT and BXP?
Across a 3-year window, the weekly returns of AAT and BXP correlate at 0.81, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.62) than the 3-year average (0.81). Stretching to 5 years gives 0.80, with an annualized covariance of 718.3 %².
In AAT's tracked universe of 24 assets, BXP sits right near the top at #1. The trailing year gives AAT the advantage: +16.2% versus +2.9%, a 13.3-point spread.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AAT vs BXP: side by side
| AAT (American Assets Trust, Inc.) | BXP (BXP, Inc.) | |
|---|---|---|
| 1-year return | +16.2% | +2.9% |
| 5-year return | -24.9% | -18.9% |
| Volatility (ann.) | 26.7% | 33.1% |
| Beta vs S&P 500 | 0.74 | 1.02 |
| Max drawdown (3Y) | -38.0% | -39.0% |
| Market cap | $1.7B | $12.7B |
| P/E (trailing) | 75.0 | 37.8 |
| Dividend yield | 5.98% | 3.98% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | AAT | BXP |
|---|---|---|
| 2022 | -26.4% | -38.6% |
| 2023 | -9.6% | +11.0% |
| 2024 | +23.3% | +12.3% |
| 2025 | -23.0% | -4.7% |
| 2026 | +22.7% | +6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAT and BXP good diversifiers for each other?
No. With a correlation of 0.81, AAT and BXP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AAT and BXP?
The AAT/BXP correlation stands at 0.81 on a 3-year window (1 year: 0.62, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is BXP a good diversifier for AAT?
No. With a correlation of 0.81, AAT and BXP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: AAT correlations · BXP correlations
