DOC vs NNN: Correlation
How closely do Healthpeak Properties (DOC) and NNN REIT, Inc. (NNN) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and NNN?
On 3 years of weekly data the DOC/NNN correlation comes out at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 297.1 %².
By 3-year correlation, NNN places #15 of the 35 assets tracked against DOC. On 12-month performance DOC holds a 13.6-point edge, +26.7% against +13.1%.
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 NNN: side by side
| DOC (Healthpeak Properties) | NNN (NNN REIT, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +13.1% |
| 5-year return | -21.6% | +25.1% |
| Volatility (ann.) | 27.1% | 18.8% |
| Beta vs S&P 500 | 0.53 | 0.31 |
| Max drawdown (3Y) | -26.0% | -22.0% |
| Market cap | $15.0B | $8.6B |
| P/E (trailing) | 62.4 | 22.3 |
| Dividend yield | 5.65% | 5.26% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | NNN |
|---|---|---|
| 2022 | -27.5% | -0.0% |
| 2023 | -16.4% | -0.6% |
| 2024 | +8.8% | -0.1% |
| 2025 | -15.2% | +2.8% |
| 2026 | +37.9% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and NNN good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DOC and NNN?
The DOC/NNN correlation stands at 0.58 on a 3-year window (1 year: 0.54, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is NNN a good diversifier for DOC?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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-nnn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/doc-vs-nnn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOC correlations · NNN correlations
