BHR vs BXP: Correlation
Braemar Hotels & Resorts Inc. (BHR) and BXP, Inc. (BXP) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHR and BXP?
On 3 years of weekly data the BHR/BXP correlation comes out at 0.47, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.47 over 3 years. The 5-year figure is 0.47, and annualized covariance runs at 870.4 %².
By 3-year correlation, BXP places #5 of the 12 assets tracked against BHR. Correlation aside, the last 12 months split them widely, with BXP ahead by 24.3 points (-21.4% versus +2.9%). Risk is not evenly split, since BHR carries 1.7 times the volatility of the other side.
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.
BHR vs BXP: side by side
| BHR (Braemar Hotels & Resorts Inc.) | BXP (BXP, Inc.) | |
|---|---|---|
| 1-year return | -21.4% | +2.9% |
| 5-year return | -47.8% | -18.9% |
| Volatility (ann.) | 55.4% | 33.1% |
| Beta vs S&P 500 | 1.17 | 1.02 |
| Max drawdown (3Y) | -49.7% | -39.0% |
| Market cap | $0.2B | $12.7B |
| P/E (trailing) | – | 37.8 |
| Dividend yield | 4.88% | 3.98% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | BHR | BXP |
|---|---|---|
| 2022 | -17.9% | -38.6% |
| 2023 | -35.2% | +11.0% |
| 2024 | +29.6% | +12.3% |
| 2025 | +3.0% | -4.7% |
| 2026 | -27.9% | +6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHR and BXP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BHR and BXP?
The BHR/BXP correlation stands at 0.47 on a 3-year window (1 year: 0.29, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is BXP a good diversifier for BHR?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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
$ curl https://www.pairbook.io/api/v1/pairs/bhr-vs-bxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bhr-vs-bxp/)
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Related comparisons
Hubs: BHR correlations · BXP correlations
