AVB vs. BXP
AVB (AvalonBay Communities, Inc.) and BXP (Boston Properties, Inc.) are both stocks. Both are in the Real Estate sector — AVB in REIT - Residential, BXP in REIT - Office. Over the past 10 years, AVB returned 3.88%/yr vs -2.65%/yr for BXP. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
AVB vs. BXP - Performance Comparison
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Returns By Period
In the year-to-date period, AVB achieves a 0.32% return, which is significantly higher than BXP's -2.49% return. Over the past 10 years, AVB has outperformed BXP with an annualized return of 3.88%, while BXP has yielded a comparatively lower -2.65% annualized return.
AVB
- 1D
- 1.45%
- 1M
- -3.10%
- YTD
- 0.32%
- 6M
- 0.61%
- 1Y
- -9.71%
- 3Y*
- 3.34%
- 5Y*
- 0.06%
- 10Y*
- 3.88%
BXP
- 1D
- 0.32%
- 1M
- 7.66%
- YTD
- -2.49%
- 6M
- -4.29%
- 1Y
- -4.76%
- 3Y*
- 14.23%
- 5Y*
- -6.68%
- 10Y*
- -2.65%
AVB vs. BXP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AVB AvalonBay Communities, Inc. | 0.32% | -14.60% | 21.44% | 20.34% | -33.92% | 62.17% | -20.27% | 24.10% | 1.00% | 3.89% |
BXP Boston Properties, Inc. | -2.49% | -4.75% | 12.28% | 10.98% | -38.57% | 26.21% | -28.33% | 26.09% | -10.86% | 5.91% |
Correlation
The correlation between AVB and BXP is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 1997 | 0.67 |
Over the past year, the correlation between AVB and BXP has dropped to 0.43 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
Fundamentals
AVB:
$25.33B
BXP:
$10.30B
AVB:
$8.02
BXP:
$2.00
AVB:
22.44
BXP:
32.46
AVB:
12.90
BXP:
0.07
AVB:
8.36
BXP:
2.95
AVB:
2.16
BXP:
2.00
AVB:
$3.06B
BXP:
$3.49B
AVB:
$2.08B
BXP:
$2.10B
AVB:
$1.99B
BXP:
$1.88B
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Return for Risk
AVB vs. BXP — Risk / Return Rank
AVB
BXP
AVB vs. BXP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AvalonBay Communities, Inc. (AVB) and Boston Properties, Inc. (BXP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AVB | BXP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.00 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.14 | -0.33 |
| Martin ratioReturn relative to average drawdown | -0.92 | -0.28 | -0.63 |
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Drawdowns
AVB vs. BXP - Drawdown Comparison
The maximum AVB drawdown since its inception was -70.04%, roughly equal to the maximum BXP drawdown of -72.80%. Use the drawdown chart below to compare losses from any high point for AVB and BXP.
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Drawdown Indicators
| AVB | BXP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.04% | -72.80% | +2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -20.43% | -33.56% | +13.13% |
Max Drawdown (3Y)Largest decline over 3 years | -29.40% | -39.03% | +9.63% |
Max Drawdown (5Y)Largest decline over 5 years | -38.36% | -62.57% | +24.21% |
Max Drawdown (10Y)Largest decline over 10 years | -46.91% | -63.59% | +16.68% |
Current DrawdownCurrent decline from peak | -20.14% | -39.89% | +19.75% |
Average DrawdownAverage peak-to-trough decline | -11.75% | -16.75% | +5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.62% | 16.77% | -6.15% |
Volatility
AVB vs. BXP - Volatility Comparison
The current volatility for AvalonBay Communities, Inc. (AVB) is 5.94%, while Boston Properties, Inc. (BXP) has a volatility of 8.40%. This indicates that AVB experiences smaller price fluctuations and is considered to be less risky than BXP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVB | BXP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 8.40% | -2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 15.45% | 20.95% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.45% | 28.51% | -8.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.21% | 32.97% | -10.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.73% | 32.12% | -7.39% |
Dividends
AVB vs. BXP - Dividend Comparison
AVB's dividend yield for the trailing twelve months is around 3.91%, less than BXP's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVB AvalonBay Communities, Inc. | 3.91% | 3.86% | 3.09% | 3.53% | 3.94% | 2.52% | 3.96% | 2.90% | 3.38% | 3.18% | 3.05% | 2.72% |
BXP Boston Properties, Inc. | 4.75% | 4.98% | 5.27% | 5.59% | 5.80% | 3.40% | 4.15% | 2.78% | 3.11% | 2.35% | 2.15% | 3.02% |
Financials
AVB vs. BXP - Financials Comparison
This section allows you to compare key financial metrics between AvalonBay Communities, Inc. and Boston Properties, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AVB vs. BXP - Profitability Comparison
AVB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AvalonBay Communities, Inc. reported a gross profit of 521.68M and revenue of 770.28M. Therefore, the gross margin over that period was 67.7%.
BXP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Boston Properties, Inc. reported a gross profit of 515.21M and revenue of 872.15M. Therefore, the gross margin over that period was 59.1%.
AVB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AvalonBay Communities, Inc. reported an operating income of 218.54M and revenue of 770.28M, resulting in an operating margin of 28.4%.
BXP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Boston Properties, Inc. reported an operating income of 227.78M and revenue of 872.15M, resulting in an operating margin of 26.1%.
AVB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AvalonBay Communities, Inc. reported a net income of 325.73M and revenue of 770.28M, resulting in a net margin of 42.3%.
BXP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Boston Properties, Inc. reported a net income of 101.58M and revenue of 872.15M, resulting in a net margin of 11.7%.
Frequently Asked Questions
AVB and BXP have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXP has higher volatility (8.40%) compared to AVB (5.94%). In terms of maximum drawdown, AVB dropped -70.04% vs BXP's -72.80%.
BXP currently has the higher Sharpe Ratio (-0.17 vs -0.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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