HST vs SPG: Correlation
Host Hotels & Resorts (HST) and Simon Property Group (SPG) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HST and SPG?
Over the past 3 years, HST and SPG moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 311.7 %².
Within HST's tracked universe of 37 assets, SPG comes in at #16 by 3-year correlation. Over the last 12 months HST came out ahead by 12.9 percentage points (+39.2% against +26.3%). Across three years, the rolling one-year figure varied moderately, from 0.38 to 0.69.
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.
HST vs SPG: side by side
| HST (Host Hotels & Resorts) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | +39.2% | +26.3% |
| 5-year return | +73.4% | +110.2% |
| Volatility (ann.) | 24.2% | 22.7% |
| Beta vs S&P 500 | 0.78 | 0.79 |
| Max drawdown (3Y) | -36.0% | -24.3% |
| Market cap | $15.5B | $81.6B |
| P/E (trailing) | 15.1 | 15.2 |
| Dividend yield | 3.57% | 4.05% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | HST | SPG |
|---|---|---|
| 2022 | -4.6% | -21.9% |
| 2023 | +27.6% | +29.2% |
| 2024 | -5.5% | +26.9% |
| 2025 | +7.2% | +12.9% |
| 2026 | +32.2% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HST and SPG good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HST and SPG?
The HST/SPG correlation stands at 0.57 on a 3-year window (1 year: 0.58, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is SPG a good diversifier for HST?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/hst-vs-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hst-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HST correlations · SPG correlations
