BXP vs PDM: Correlation
How closely do BXP, Inc. (BXP) and Piedmont Realty Trust, Inc. (PDM) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXP and PDM?
Over the past 3 years, BXP and PDM moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 951.3 %².
Among the 45 assets we track against BXP, PDM ranks #5 by 3-year correlation. Over the last 12 months PDM came out ahead by 13.1 percentage points (+2.9% against +16.0%).
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 PDM: side by side
| BXP (BXP, Inc.) | PDM (Piedmont Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | +2.9% | +16.0% |
| 5-year return | -18.9% | -29.9% |
| Volatility (ann.) | 33.1% | 35.3% |
| Beta vs S&P 500 | 1.02 | 0.95 |
| Max drawdown (3Y) | -39.0% | -46.4% |
| Market cap | $12.7B | $1.2B |
| P/E (trailing) | 37.8 | – |
| Dividend yield | 3.98% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | BXP | PDM |
|---|---|---|
| 2022 | -38.6% | -46.8% |
| 2023 | +11.0% | -14.8% |
| 2024 | +12.3% | +37.2% |
| 2025 | -4.7% | -7.3% |
| 2026 | +6.2% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXP and PDM good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BXP and PDM?
The BXP/PDM correlation stands at 0.81 on a 3-year window (1 year: 0.79, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is PDM a good diversifier for BXP?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 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-pdm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bxp-vs-pdm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BXP correlations · PDM correlations
