ARE vs BXP: Correlation
Measured on weekly returns over the past three years, Alexandria Real Estate Equities (ARE) and BXP, Inc. (BXP) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and BXP?
Over the past 3 years, ARE and BXP moved with a correlation of 0.61, which is strong. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 773.4 %².
Within ARE's tracked universe of 34 assets, BXP comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BXP outperformed by 35.0 percentage points (-32.1% for ARE against +2.9% for BXP). On a rolling one-year basis the correlation drifted between 0.52 and 0.86, a moderate band.
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.
ARE vs BXP: side by side
| ARE (Alexandria Real Estate Equities) | BXP (BXP, Inc.) | |
|---|---|---|
| 1-year return | -32.1% | +2.9% |
| 5-year return | -68.3% | -18.9% |
| Volatility (ann.) | 38.3% | 33.1% |
| Beta vs S&P 500 | 0.91 | 1.02 |
| Max drawdown (3Y) | -65.6% | -39.0% |
| Market cap | $9.0B | $12.7B |
| P/E (trailing) | – | 37.8 |
| Dividend yield | 6.57% | 3.98% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | ARE | BXP |
|---|---|---|
| 2022 | -32.6% | -38.6% |
| 2023 | -9.1% | +11.0% |
| 2024 | -19.4% | +12.3% |
| 2025 | -46.6% | -4.7% |
| 2026 | +9.9% | +6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and BXP good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ARE and BXP?
As of 2026-08-27, the correlation of weekly returns between ARE and BXP is 0.61 over 3 years, 0.51 over 1 year and 0.63 over 5 years.
Is BXP a good diversifier for ARE?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/are-vs-bxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/are-vs-bxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARE correlations · BXP correlations
