DOC vs OLP: Correlation
Measured on weekly returns over the past three years, Healthpeak Properties (DOC) and One Liberty Properties, Inc. (OLP) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and OLP?
Over the past 3 years, DOC and OLP moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 344.8 %².
By 3-year correlation, OLP places #12 of the 35 assets tracked against DOC. Over the last 12 months DOC came out ahead by 13.7 percentage points (+26.7% against +13.0%).
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 OLP: side by side
| DOC (Healthpeak Properties) | OLP (One Liberty Properties, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +13.0% |
| 5-year return | -21.6% | +11.9% |
| Volatility (ann.) | 27.1% | 21.5% |
| Beta vs S&P 500 | 0.53 | 0.49 |
| Max drawdown (3Y) | -26.0% | -28.8% |
| Market cap | $15.0B | $0.5B |
| P/E (trailing) | 62.4 | 15.3 |
| Dividend yield | 5.65% | 7.44% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | OLP |
|---|---|---|
| 2022 | -27.5% | -32.3% |
| 2023 | -16.4% | +7.6% |
| 2024 | +8.8% | +33.5% |
| 2025 | -15.2% | -19.6% |
| 2026 | +37.9% | +23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and OLP good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DOC and OLP?
As of 2026-08-27, the correlation of weekly returns between DOC and OLP is 0.59 over 3 years, 0.50 over 1 year and 0.57 over 5 years.
Is OLP a good diversifier for DOC?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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-olp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/doc-vs-olp/)
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Related comparisons
Hubs: DOC correlations · OLP correlations
