BXP vs VNO: Correlation
BXP, Inc. (BXP) and Vornado Realty Trust (VNO) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXP and VNO?
Over the past 3 years, BXP and VNO moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 1103.8 %².
VNO is one of the assets that tracks BXP most closely: it ranks #1 out of the 45 assets we track against BXP. Twelve-month performance is nearly a tie, at +2.9% for BXP and +5.1% for VNO.
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 VNO: side by side
| BXP (BXP, Inc.) | VNO (Vornado Realty Trust) | |
|---|---|---|
| 1-year return | +2.9% | +5.1% |
| 5-year return | -18.9% | +8.4% |
| Volatility (ann.) | 33.1% | 39.1% |
| Beta vs S&P 500 | 1.02 | 1.34 |
| Max drawdown (3Y) | -39.0% | -43.9% |
| Market cap | $12.7B | $7.7B |
| P/E (trailing) | 37.8 | 1290.7 |
| Dividend yield | 3.98% | 1.90% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | BXP | VNO |
|---|---|---|
| 2022 | -38.6% | -46.7% |
| 2023 | +11.0% | +39.5% |
| 2024 | +12.3% | +51.3% |
| 2025 | -4.7% | -19.1% |
| 2026 | +6.2% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXP and VNO good diversifiers for each other?
No. With a correlation of 0.85, BXP and VNO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BXP and VNO?
As of 2026-08-27, the correlation of weekly returns between BXP and VNO is 0.85 over 3 years, 0.81 over 1 year and 0.87 over 5 years.
Is VNO a good diversifier for BXP?
No. With a correlation of 0.85, BXP and VNO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
A reading of 0.85 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-vno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bxp-vs-vno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BXP correlations · VNO correlations
