RHP vs SHO: Correlation
How closely do Ryman Hospitality Properties, Inc. (REIT) (RHP) and Sunstone Hotel Investors, Inc. (SHO) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RHP and SHO?
Across a 3-year window, the weekly returns of RHP and SHO correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 391.2 %².
Within RHP's tracked universe of 14 assets, SHO comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RHP ahead by 15.0 points (+36.4% versus +21.4%).
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.
RHP vs SHO: side by side
| RHP (Ryman Hospitality Properties, Inc. (REIT)) | SHO (Sunstone Hotel Investors, Inc.) | |
|---|---|---|
| 1-year return | +36.4% | +21.4% |
| 5-year return | +87.5% | +10.7% |
| Volatility (ann.) | 23.4% | 23.4% |
| Beta vs S&P 500 | 0.65 | 0.76 |
| Max drawdown (3Y) | -32.1% | -36.6% |
| Market cap | $8.9B | $2.1B |
| P/E (trailing) | 31.6 | 50.9 |
| Dividend yield | 3.64% | 3.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RHP | SHO |
|---|---|---|
| 2022 | -10.7% | -16.8% |
| 2023 | +40.4% | +14.4% |
| 2024 | -1.1% | +13.9% |
| 2025 | -4.8% | -21.5% |
| 2026 | +39.6% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RHP and SHO good diversifiers for each other?
Only partially. A correlation of 0.71 means RHP and SHO 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 RHP and SHO?
The RHP/SHO correlation stands at 0.71 on a 3-year window (1 year: 0.74, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is SHO a good diversifier for RHP?
Only partially. A correlation of 0.71 means RHP and SHO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rhp-vs-sho.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rhp-vs-sho/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RHP correlations · SHO correlations
