DEI vs HIW: Correlation
Douglas Emmett, Inc. (DEI) and Highwoods Properties, Inc. (HIW) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DEI and HIW?
Across a 3-year window, the weekly returns of DEI and HIW correlate at 0.80, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.68) than the 3-year average (0.80). Stretching to 5 years gives 0.83, with an annualized covariance of 847.2 %².
Among the 24 assets we track against DEI, HIW ranks #4 by 3-year correlation. The last year tells two different stories: HIW led by 30.9 percentage points, -21.1% for DEI against +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.
DEI vs HIW: side by side
| DEI (Douglas Emmett, Inc.) | HIW (Highwoods Properties, Inc.) | |
|---|---|---|
| 1-year return | -21.1% | +9.8% |
| 5-year return | -52.6% | -1.6% |
| Volatility (ann.) | 35.7% | 29.8% |
| Beta vs S&P 500 | 0.99 | 0.83 |
| Max drawdown (3Y) | -51.8% | -37.1% |
| Market cap | $2.4B | $3.5B |
| P/E (trailing) | – | 20.9 |
| Dividend yield | 6.35% | 6.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DEI | HIW |
|---|---|---|
| 2022 | -50.9% | -33.6% |
| 2023 | -1.9% | -10.1% |
| 2024 | +34.6% | +43.1% |
| 2025 | -37.5% | -9.6% |
| 2026 | +12.1% | +28.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DEI and HIW good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DEI and HIW?
The DEI/HIW correlation stands at 0.80 on a 3-year window (1 year: 0.68, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is HIW a good diversifier for DEI?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
A reading of 0.80 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/dei-vs-hiw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dei-vs-hiw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DEI correlations · HIW correlations
