HPP vs KRC: Correlation
Hudson Pacific Properties, Inc. (HPP) and Kilroy Realty Corporation (KRC) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPP and KRC?
Over the past 3 years, HPP and KRC moved with a correlation of 0.64, which is strong. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 1469.4 %².
Few assets follow HPP as closely as KRC, which ranks #3 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months KRC outperformed by 26.9 percentage points (-32.2% for HPP against -5.3% for KRC). One caveat on sizing: HPP is 1.8 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.
HPP vs KRC: side by side
| HPP (Hudson Pacific Properties, Inc.) | KRC (Kilroy Realty Corporation) | |
|---|---|---|
| 1-year return | -32.2% | -5.3% |
| 5-year return | -91.3% | -26.0% |
| Volatility (ann.) | 64.7% | 35.5% |
| Beta vs S&P 500 | 1.35 | 1.02 |
| Max drawdown (3Y) | -91.7% | -35.3% |
| Market cap | $1.5B | $4.3B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 0.00% | 5.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPP | KRC |
|---|---|---|
| 2022 | -57.9% | -39.2% |
| 2023 | +1.9% | +10.1% |
| 2024 | -66.9% | +7.8% |
| 2025 | -48.9% | -2.0% |
| 2026 | +25.3% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPP and KRC good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HPP and KRC?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.55 over the last year and 0.70 over 5 years.
Is KRC a good diversifier for HPP?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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/hpp-vs-krc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hpp-vs-krc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HPP correlations · KRC correlations
