BHR vs OLP: Correlation
How closely do Braemar Hotels & Resorts Inc. (BHR) and One Liberty Properties, Inc. (OLP) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHR and OLP?
On 3 years of weekly data the BHR/OLP correlation comes out at 0.51, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.51). The 5-year figure is 0.43, and annualized covariance runs at 604.3 %².
OLP is one of the assets that tracks BHR most closely: it ranks #2 out of the 12 assets we track against BHR. The last year tells two different stories: OLP led by 34.4 percentage points, -21.4% for BHR against +13.0% for OLP. Note the risk asymmetry: BHR runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 OLP: side by side
| BHR (Braemar Hotels & Resorts Inc.) | OLP (One Liberty Properties, Inc.) | |
|---|---|---|
| 1-year return | -21.4% | +13.0% |
| 5-year return | -47.8% | +11.9% |
| Volatility (ann.) | 55.4% | 21.5% |
| Beta vs S&P 500 | 1.17 | 0.49 |
| Max drawdown (3Y) | -49.7% | -28.8% |
| Market cap | $0.2B | $0.5B |
| P/E (trailing) | – | 15.3 |
| Dividend yield | 4.88% | 7.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHR | OLP |
|---|---|---|
| 2022 | -17.9% | -32.3% |
| 2023 | -35.2% | +7.6% |
| 2024 | +29.6% | +33.5% |
| 2025 | +3.0% | -19.6% |
| 2026 | -27.9% | +23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHR and OLP good diversifiers for each other?
To a limited degree. At 0.51 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 BHR and OLP?
The BHR/OLP correlation stands at 0.51 on a 3-year window (1 year: 0.40, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is OLP a good diversifier for BHR?
To a limited degree. At 0.51 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 0.51 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-olp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhr-vs-olp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHR correlations · OLP correlations
