DOUG vs IIPR: Correlation
Measured on weekly returns over the past three years, Douglas Elliman Inc. (DOUG) and Innovative Industrial Properties, Inc. (IIPR) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOUG and IIPR?
On 3 years of weekly data the DOUG/IIPR correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.42 over 3. The 5-year figure is 0.38, and annualized covariance runs at 1281.5 %².
Within DOUG's tracked universe of 13 assets, IIPR comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IIPR outperformed by 45.1 percentage points (-30.1% for DOUG against +15.0% for IIPR). One caveat on sizing: DOUG is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DOUG vs IIPR: side by side
| DOUG (Douglas Elliman Inc.) | IIPR (Innovative Industrial Properties, Inc.) | |
|---|---|---|
| 1-year return | -30.1% | +15.0% |
| 5-year return | -83.0% | -63.8% |
| Volatility (ann.) | 76.4% | 39.6% |
| Beta vs S&P 500 | 0.95 | 0.85 |
| Max drawdown (3Y) | -66.5% | -62.9% |
| Market cap | $0.2B | $1.6B |
| P/E (trailing) | 6.4 | 12.8 |
| Dividend yield | 0.00% | 13.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOUG | IIPR |
|---|---|---|
| 2022 | -63.2% | -59.0% |
| 2023 | -22.6% | +8.8% |
| 2024 | -43.4% | -28.5% |
| 2025 | +41.9% | -18.4% |
| 2026 | -21.5% | +27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOUG and IIPR good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DOUG and IIPR?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.40 over the last year and 0.38 over 5 years.
Is IIPR a good diversifier for DOUG?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/doug-vs-iipr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/doug-vs-iipr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DOUG correlations · IIPR correlations
