BXP vs FRT: Correlation
BXP, Inc. (BXP) and Federal Realty Investment Trust (FRT) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXP and FRT?
Over the past 3 years, BXP and FRT moved with a correlation of 0.71, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.59 versus 0.71 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 456.1 %².
Within BXP's tracked universe of 45 assets, FRT comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FRT outperformed by 18.7 percentage points (+2.9% for BXP against +21.6% for FRT). Across three years, the rolling one-year figure varied moderately, from 0.60 to 0.89. Note the risk asymmetry: BXP runs 1.7 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 FRT: side by side
| BXP (BXP, Inc.) | FRT (Federal Realty Investment Trust) | |
|---|---|---|
| 1-year return | +2.9% | +21.6% |
| 5-year return | -18.9% | +18.8% |
| Volatility (ann.) | 33.1% | 19.5% |
| Beta vs S&P 500 | 1.02 | 0.53 |
| Max drawdown (3Y) | -39.0% | -27.4% |
| Market cap | $12.7B | $10.2B |
| P/E (trailing) | 37.8 | 23.6 |
| Dividend yield | 3.98% | 3.84% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | BXP | FRT |
|---|---|---|
| 2022 | -38.6% | -22.7% |
| 2023 | +11.0% | +6.6% |
| 2024 | +12.3% | +12.1% |
| 2025 | -4.7% | -5.9% |
| 2026 | +6.2% | +19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXP and FRT good diversifiers for each other?
Only partially. A correlation of 0.71 means BXP and FRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BXP and FRT?
As of 2026-08-27, the correlation of weekly returns between BXP and FRT is 0.71 over 3 years, 0.59 over 1 year and 0.70 over 5 years.
Is FRT a good diversifier for BXP?
Only partially. A correlation of 0.71 means BXP and FRT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/bxp-vs-frt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bxp-vs-frt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BXP correlations · FRT correlations
