DOC vs WPC: Correlation
Healthpeak Properties (DOC) and W. P. Carey Inc. REIT (WPC) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and WPC?
On 3 years of weekly data the DOC/WPC correlation comes out at 0.60, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.60). The 5-year figure is 0.62, and annualized covariance runs at 339.0 %².
By 3-year correlation, WPC places #9 of the 35 assets tracked against DOC. Correlation aside, the last 12 months split them widely, with DOC ahead by 15.5 points (+26.7% versus +11.2%).
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 WPC: side by side
| DOC (Healthpeak Properties) | WPC (W. P. Carey Inc. REIT) | |
|---|---|---|
| 1-year return | +26.7% | +11.2% |
| 5-year return | -21.6% | +23.0% |
| Volatility (ann.) | 27.1% | 20.9% |
| Beta vs S&P 500 | 0.53 | 0.30 |
| Max drawdown (3Y) | -26.0% | -19.6% |
| Market cap | $15.0B | $16.0B |
| P/E (trailing) | 62.4 | 24.4 |
| Dividend yield | 5.65% | 5.20% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | WPC |
|---|---|---|
| 2022 | -27.5% | +0.5% |
| 2023 | -16.4% | -9.9% |
| 2024 | +8.8% | -10.6% |
| 2025 | -15.2% | +25.0% |
| 2026 | +37.9% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and WPC good diversifiers for each other?
Only partially. A correlation of 0.60 means DOC and WPC 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 WPC?
As of 2026-08-27, the correlation of weekly returns between DOC and WPC is 0.60 over 3 years, 0.48 over 1 year and 0.62 over 5 years.
Is WPC a good diversifier for DOC?
Only partially. A correlation of 0.60 means DOC and WPC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 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-wpc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/doc-vs-wpc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOC correlations · WPC correlations
