BXP vs. AVB
BXP (Boston Properties, Inc.) and AVB (AvalonBay Communities, Inc.) are both stocks. Both are in the Real Estate sector — BXP in REIT - Office, AVB in REIT - Residential. Over the past 10 years, BXP returned -3.20%/yr vs 4.03%/yr for AVB. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
BXP vs. AVB - Performance Comparison
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Returns By Period
In the year-to-date period, BXP achieves a -8.05% return, which is significantly lower than AVB's 2.27% return. Over the past 10 years, BXP has underperformed AVB with an annualized return of -3.20%, while AVB has yielded a comparatively higher 4.03% annualized return.
BXP
- 1D
- 3.52%
- 1M
- 3.10%
- YTD
- -8.05%
- 6M
- -12.64%
- 1Y
- -5.04%
- 3Y*
- 12.65%
- 5Y*
- -7.98%
- 10Y*
- -3.20%
AVB
- 1D
- 0.28%
- 1M
- -0.04%
- YTD
- 2.27%
- 6M
- 3.35%
- 1Y
- -8.02%
- 3Y*
- 4.04%
- 5Y*
- 0.41%
- 10Y*
- 4.03%
BXP vs. AVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BXP Boston Properties, Inc. | -8.05% | -4.75% | 12.28% | 10.98% | -38.57% | 26.21% | -28.33% | 26.09% | -10.86% | 5.91% |
AVB AvalonBay Communities, Inc. | 2.27% | -14.60% | 21.44% | 20.34% | -33.92% | 62.17% | -20.27% | 24.10% | 1.00% | 3.89% |
Correlation
The correlation between BXP and AVB is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 1997 | 0.67 |
Over the past year, the correlation between BXP and AVB has dropped to 0.44 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
Fundamentals
BXP:
$9.71B
AVB:
$25.82B
BXP:
$2.00
AVB:
$8.02
BXP:
30.61
AVB:
22.87
BXP:
0.07
AVB:
13.15
BXP:
2.78
AVB:
8.53
BXP:
1.89
AVB:
2.20
BXP:
$3.49B
AVB:
$3.06B
BXP:
$2.10B
AVB:
$2.08B
BXP:
$1.88B
AVB:
$1.99B
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Return for Risk
BXP vs. AVB — Risk / Return Rank
BXP
AVB
BXP vs. AVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Boston Properties, Inc. (BXP) and AvalonBay Communities, Inc. (AVB). 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.
| BXP | AVB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.18 | -0.40 | +0.22 |
Sortino ratioReturn per unit of downside risk | -0.06 | -0.43 | +0.38 |
Omega ratioGain probability vs. loss probability | 0.99 | 0.95 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | -0.14 | -0.38 | +0.24 |
Martin ratioReturn relative to average drawdown | -0.28 | -0.72 | +0.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BXP | AVB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.18 | -0.40 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.02 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | 0.16 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.42 | -0.18 |
Drawdowns
BXP vs. AVB - Drawdown Comparison
The maximum BXP drawdown since its inception was -72.80%, roughly equal to the maximum AVB drawdown of -70.04%. Use the drawdown chart below to compare losses from any high point for BXP and AVB.
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Drawdown Indicators
| BXP | AVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.80% | -70.04% | -2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -33.56% | -20.87% | -12.69% |
Max Drawdown (3Y)Largest decline over 3 years | -39.03% | -29.40% | -9.63% |
Max Drawdown (5Y)Largest decline over 5 years | -62.57% | -38.36% | -24.21% |
Max Drawdown (10Y)Largest decline over 10 years | -63.59% | -46.91% | -16.68% |
Current DrawdownCurrent decline from peak | -43.32% | -18.59% | -24.73% |
Average DrawdownAverage peak-to-trough decline | -16.72% | -11.74% | -4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 10.91% | +5.63% |
Volatility
BXP vs. AVB - Volatility Comparison
Boston Properties, Inc. (BXP) has a higher volatility of 6.50% compared to AvalonBay Communities, Inc. (AVB) at 4.99%. This indicates that BXP's price experiences larger fluctuations and is considered to be riskier than AVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BXP | AVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 4.99% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 20.02% | 14.91% | +5.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.22% | 19.96% | +8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.86% | 22.16% | +10.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.04% | 24.68% | +7.36% |
Dividends
BXP vs. AVB - Dividend Comparison
BXP's dividend yield for the trailing twelve months is around 5.03%, more than AVB's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVB AvalonBay Communities, Inc. | 3.83% | 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. | 5.03% | 4.98% | 5.27% | 5.59% | 5.80% | 3.40% | 4.15% | 2.78% | 3.11% | 2.35% | 2.15% | 3.02% |
Financials
BXP vs. AVB - Financials Comparison
This section allows you to compare key financial metrics between Boston Properties, Inc. and AvalonBay Communities, 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
BXP vs. AVB - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
BXP and AVB have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXP has higher volatility (6.50%) compared to AVB (4.99%). In terms of maximum drawdown, BXP dropped -72.80% vs AVB's -70.04%.
BXP currently has the higher Sharpe Ratio (-0.18 vs -0.40), 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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