HIW vs. NNN
HIW (Highwoods Properties, Inc.) and NNN (National Retail Properties, Inc.) are both stocks. Both are in the Real Estate sector — HIW in REIT - Office, NNN in REIT - Retail. Over the past 10 years, HIW returned 0.16%/yr vs 4.36%/yr for NNN. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
HIW vs. NNN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIW achieves a 11.44% return, which is significantly lower than NNN's 14.17% return. Over the past 10 years, HIW has underperformed NNN with an annualized return of 0.16%, while NNN has yielded a comparatively higher 4.36% annualized return.
HIW
- 1D
- 2.37%
- 1M
- 12.16%
- YTD
- 11.44%
- 6M
- 8.38%
- 1Y
- -1.50%
- 3Y*
- 18.60%
- 5Y*
- -3.60%
- 10Y*
- 0.16%
NNN
- 1D
- -0.48%
- 1M
- -0.97%
- YTD
- 14.17%
- 6M
- 11.33%
- 1Y
- 12.52%
- 3Y*
- 6.73%
- 5Y*
- 3.42%
- 10Y*
- 4.36%
HIW vs. NNN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIW Highwoods Properties, Inc. | 11.44% | -9.61% | 43.11% | -10.14% | -33.58% | 17.63% | -14.76% | 31.82% | -20.84% | 3.36% |
NNN National Retail Properties, Inc. | 14.17% | 2.81% | -0.06% | -0.60% | -0.01% | 23.08% | -19.29% | 14.78% | 17.82% | 2.00% |
Correlation
The correlation between HIW and NNN is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 1994 | 0.54 |
The correlation between HIW and NNN shifts across timeframes, from 0.36 (1 year) to 0.60 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
HIW:
$3.09B
NNN:
$8.33B
HIW:
$0.55
NNN:
$2.05
HIW:
50.30
NNN:
21.41
HIW:
5.04
NNN:
8.86
HIW:
1.31
NNN:
1.90
HIW:
$605.73M
NNN:
$935.78M
HIW:
$409.39M
NNN:
$761.54M
HIW:
$478.95M
NNN:
$870.06M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HIW vs. NNN — Risk / Return Rank
HIW
NNN
HIW vs. NNN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Highwoods Properties, Inc. (HIW) and National Retail Properties, Inc. (NNN). 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.
| HIW | NNN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.14 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 1.42 | -1.47 |
| Martin ratioReturn relative to average drawdown | -0.09 | 3.28 | -3.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HIW | NNN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.06 | 0.77 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.17 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.16 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.40 | -0.18 |
Drawdowns
HIW vs. NNN - Drawdown Comparison
The maximum HIW drawdown since its inception was -63.47%, which is greater than NNN's maximum drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for HIW and NNN.
Loading charts...
Drawdown Indicators
| HIW | NNN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.47% | -56.17% | -7.30% |
Max Drawdown (1Y)Largest decline over 1 year | -34.03% | -8.83% | -25.20% |
Max Drawdown (3Y)Largest decline over 3 years | -37.09% | -22.03% | -15.06% |
Max Drawdown (5Y)Largest decline over 5 years | -58.40% | -25.22% | -33.18% |
Max Drawdown (10Y)Largest decline over 10 years | -58.93% | -54.99% | -3.94% |
Current DrawdownCurrent decline from peak | -20.38% | -2.91% | -17.47% |
Average DrawdownAverage peak-to-trough decline | -14.58% | -9.82% | -4.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.89% | 3.83% | +13.06% |
Volatility
HIW vs. NNN - Volatility Comparison
Highwoods Properties, Inc. (HIW) has a higher volatility of 6.99% compared to National Retail Properties, Inc. (NNN) at 4.56%. This indicates that HIW's price experiences larger fluctuations and is considered to be riskier than NNN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HIW | NNN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 4.56% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 22.75% | 11.43% | +11.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.53% | 16.32% | +10.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.21% | 19.66% | +10.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.50% | 28.07% | +2.43% |
Dividends
HIW vs. NNN - Dividend Comparison
HIW's dividend yield for the trailing twelve months is around 7.25%, more than NNN's 5.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIW Highwoods Properties, Inc. | 7.25% | 7.75% | 6.54% | 8.71% | 7.15% | 4.40% | 4.84% | 3.88% | 4.78% | 3.46% | 4.90% | 3.90% |
NNN National Retail Properties, Inc. | 5.46% | 5.96% | 5.61% | 5.17% | 4.72% | 4.37% | 5.06% | 3.79% | 4.02% | 4.31% | 4.03% | 4.27% |
Financials
HIW vs. NNN - Financials Comparison
This section allows you to compare key financial metrics between Highwoods Properties, Inc. and National Retail 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
Frequently Asked Questions
HIW and NNN have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIW has higher volatility (6.99%) compared to NNN (4.56%). In terms of maximum drawdown, HIW dropped -63.47% vs NNN's -56.17%.
NNN currently has the higher Sharpe Ratio (0.77 vs -0.06), 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.
Find the right allocation for HIW and NNN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer