CUZ vs HIW: Correlation
Measured on weekly returns over the past three years, Cousins Properties Incorporated (CUZ) and Highwoods Properties, Inc. (HIW) carry a correlation of 0.90, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUZ and HIW?
Across a 3-year window, the weekly returns of CUZ and HIW correlate at 0.90, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.90 lands near the 3-year figure. Stretching to 5 years gives 0.91, with an annualized covariance of 741.5 %².
In CUZ's tracked universe of 19 assets, HIW sits right near the top at #1. Twelve-month performance is nearly a tie, at +7.0% for CUZ and +9.8% for HIW.
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.
CUZ vs HIW: side by side
| CUZ (Cousins Properties Incorporated) | HIW (Highwoods Properties, Inc.) | |
|---|---|---|
| 1-year return | +7.0% | +9.8% |
| 5-year return | -3.8% | -1.6% |
| Volatility (ann.) | 27.6% | 29.8% |
| Beta vs S&P 500 | 0.82 | 0.83 |
| Max drawdown (3Y) | -29.4% | -37.1% |
| Market cap | $4.9B | $3.5B |
| P/E (trailing) | 737.2 | 20.9 |
| Dividend yield | 4.32% | 6.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CUZ | HIW |
|---|---|---|
| 2022 | -34.7% | -33.6% |
| 2023 | +2.0% | -10.1% |
| 2024 | +32.6% | +43.1% |
| 2025 | -12.1% | -9.6% |
| 2026 | +18.7% | +28.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUZ and HIW good diversifiers for each other?
No. With a correlation of 0.90, CUZ and HIW move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CUZ and HIW?
Using weekly returns as of 2026-08-27: 0.90 over 3 years, with 0.90 over the last year and 0.91 over 5 years.
Is HIW a good diversifier for CUZ?
No. With a correlation of 0.90, CUZ and HIW move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.90 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/cuz-vs-hiw.json
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Related comparisons
Hubs: CUZ correlations · HIW correlations
