BXP vs SPG: Correlation
Measured on weekly returns over the past three years, BXP, Inc. (BXP) and Simon Property Group (SPG) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXP and SPG?
Over the past 3 years, BXP and SPG moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 478.5 %².
By 3-year correlation, SPG places #19 of the 45 assets tracked against BXP. Correlation aside, the last 12 months split them widely, with SPG ahead by 23.4 points (+2.9% versus +26.3%). On a rolling one-year basis the correlation drifted between 0.52 and 0.85, a moderate band.
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 SPG: side by side
| BXP (BXP, Inc.) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | +2.9% | +26.3% |
| 5-year return | -18.9% | +110.2% |
| Volatility (ann.) | 33.1% | 22.7% |
| Beta vs S&P 500 | 1.02 | 0.79 |
| Max drawdown (3Y) | -39.0% | -24.3% |
| Market cap | $12.7B | $81.6B |
| P/E (trailing) | 37.8 | 15.2 |
| Dividend yield | 3.98% | 4.05% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | BXP | SPG |
|---|---|---|
| 2022 | -38.6% | -21.9% |
| 2023 | +11.0% | +29.2% |
| 2024 | +12.3% | +26.9% |
| 2025 | -4.7% | +12.9% |
| 2026 | +6.2% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXP and SPG good diversifiers for each other?
To a limited degree. At 0.64 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 BXP and SPG?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.60 over the last year and 0.66 over 5 years.
Is SPG a good diversifier for BXP?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bxp-vs-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxp-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BXP correlations · SPG correlations
