BXP vs CDP: Correlation
BXP, Inc. (BXP) and COPT Defense Properties (CDP) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXP and CDP?
On 3 years of weekly data the BXP/CDP correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 414.3 %².
Within BXP's tracked universe of 45 assets, CDP comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CDP outperformed by 31.5 percentage points (+2.9% for BXP against +34.4% for CDP). Note the risk asymmetry: BXP runs 1.6 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.
BXP vs CDP: side by side
| BXP (BXP, Inc.) | CDP (COPT Defense Properties) | |
|---|---|---|
| 1-year return | +2.9% | +34.4% |
| 5-year return | -18.9% | +64.2% |
| Volatility (ann.) | 33.1% | 20.1% |
| Beta vs S&P 500 | 1.02 | 0.32 |
| Max drawdown (3Y) | -39.0% | -23.7% |
| Market cap | $12.7B | $4.3B |
| P/E (trailing) | 37.8 | 25.9 |
| Dividend yield | 3.98% | 3.35% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | BXP | CDP |
|---|---|---|
| 2022 | -38.6% | -3.3% |
| 2023 | +11.0% | +3.7% |
| 2024 | +12.3% | +26.2% |
| 2025 | -4.7% | -6.2% |
| 2026 | +6.2% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXP and CDP good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BXP and CDP?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.56 over the last year and 0.66 over 5 years.
Is CDP a good diversifier for BXP?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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/bxp-vs-cdp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxp-vs-cdp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BXP correlations · CDP correlations
