DOC vs MVST: Correlation
Healthpeak Properties (DOC) and Microvast Holdings, Inc. (MVST) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and MVST?
Across a 3-year window, the weekly returns of DOC and MVST correlate at -0.15, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.08) runs above the 3-year figure (-0.15). Stretching to 5 years gives -0.07, with an annualized covariance of -874.7 %².
Within DOC's tracked universe of 35 assets, MVST comes in at #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DOC ahead by 97.9 points (+26.7% versus -71.2%). Risk is not evenly split, since MVST carries 7.7 times the volatility of the other side.
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 MVST: side by side
| DOC (Healthpeak Properties) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | -71.2% |
| 5-year return | -21.6% | -91.6% |
| Volatility (ann.) | 27.1% | 209.2% |
| Beta vs S&P 500 | 0.53 | 0.26 |
| Max drawdown (3Y) | -26.0% | -92.8% |
| Market cap | $15.0B | $0.3B |
| P/E (trailing) | 62.4 | – |
| Dividend yield | 5.65% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | MVST |
|---|---|---|
| 2022 | -27.5% | -73.0% |
| 2023 | -16.4% | -8.5% |
| 2024 | +8.8% | +47.9% |
| 2025 | -15.2% | +35.3% |
| 2026 | +37.9% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and MVST good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DOC and MVST?
As of 2026-08-27, the correlation of weekly returns between DOC and MVST is -0.15 over 3 years, 0.08 over 1 year and -0.07 over 5 years.
Is MVST a good diversifier for DOC?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 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.
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Related comparisons
Hubs: DOC correlations · MVST correlations
