DOC vs HR: Correlation
How closely do Healthpeak Properties (DOC) and Healthcare Realty Trust Incorporated (HR) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and HR?
On 3 years of weekly data the DOC/HR correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 380.0 %².
By 3-year correlation, HR places #4 of the 35 assets tracked against DOC. On 12-month performance DOC holds a 10.1-point edge, +26.7% against +16.6%.
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 HR: side by side
| DOC (Healthpeak Properties) | HR (Healthcare Realty Trust Incorporated) | |
|---|---|---|
| 1-year return | +26.7% | +16.6% |
| 5-year return | -21.6% | +12.6% |
| Volatility (ann.) | 27.1% | 21.8% |
| Beta vs S&P 500 | 0.53 | 0.37 |
| Max drawdown (3Y) | -26.0% | -24.4% |
| Market cap | $15.0B | $6.6B |
| P/E (trailing) | 62.4 | – |
| Dividend yield | 5.65% | 4.98% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | HR |
|---|---|---|
| 2022 | -27.5% | -17.5% |
| 2023 | -16.4% | -4.1% |
| 2024 | +8.8% | +6.4% |
| 2025 | -15.2% | +6.9% |
| 2026 | +37.9% | +17.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and HR good diversifiers for each other?
Only partially. A correlation of 0.64 means DOC and HR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DOC and HR?
The DOC/HR correlation stands at 0.64 on a 3-year window (1 year: 0.54, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is HR a good diversifier for DOC?
Only partially. A correlation of 0.64 means DOC and HR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/doc-vs-hr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/doc-vs-hr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOC correlations · HR correlations
