DOC vs ESS: Correlation
Healthpeak Properties (DOC) and Essex Property Trust (ESS) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and ESS?
Across a 3-year window, the weekly returns of DOC and ESS correlate at 0.57, moderate. The past 12 months show a weaker link (0.43) than the 3-year average (0.57). Stretching to 5 years gives 0.64, with an annualized covariance of 342.3 %².
Within DOC's tracked universe of 35 assets, ESS comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DOC outperformed by 17.6 percentage points (+26.7% for DOC against +9.1% for ESS). The rolling one-year correlation moved between 0.36 and 0.78 over the past three years, a moderate range.
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.
DOC vs ESS: side by side
| DOC (Healthpeak Properties) | ESS (Essex Property Trust) | |
|---|---|---|
| 1-year return | +26.7% | +9.1% |
| 5-year return | -21.6% | +3.0% |
| Volatility (ann.) | 27.1% | 22.2% |
| Beta vs S&P 500 | 0.53 | 0.64 |
| Max drawdown (3Y) | -26.0% | -20.8% |
| Market cap | $15.0B | $19.4B |
| P/E (trailing) | 62.4 | 44.8 |
| Dividend yield | 5.65% | 3.58% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | DOC | ESS |
|---|---|---|
| 2022 | -27.5% | -37.8% |
| 2023 | -16.4% | +22.0% |
| 2024 | +8.8% | +18.4% |
| 2025 | -15.2% | -5.0% |
| 2026 | +37.9% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and ESS good diversifiers for each other?
To a limited degree. At 0.57 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 DOC and ESS?
As of 2026-08-27, the correlation of weekly returns between DOC and ESS is 0.57 over 3 years, 0.43 over 1 year and 0.64 over 5 years.
Is ESS a good diversifier for DOC?
To a limited degree. At 0.57 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 0.57 mean?
A reading of 0.57 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/doc-vs-ess.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/doc-vs-ess/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOC correlations · ESS correlations
