HIW vs. OLP

Last updated Jun 4, 2026

HIW (Highwoods Properties, Inc.) and OLP (One Liberty Properties, Inc.) are both stocks. Both are in the Real Estate sector — HIW in REIT - Office, OLP in REIT - Diversified. Over the past 10 years, HIW returned -0.18%/yr vs 7.81%/yr for OLP. At a 0.40 correlation, their price movements are largely independent.

Performance

HIW vs. OLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Highwoods Properties, Inc. (HIW) and One Liberty Properties, Inc. (OLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIW achieves a 8.86% return, which is significantly lower than OLP's 16.66% return. Over the past 10 years, HIW has underperformed OLP with an annualized return of -0.18%, while OLP has yielded a comparatively higher 7.81% annualized return.

HIW

• 1D: 0.37%
• 1M: 12.43%
• YTD: 8.86%
• 6M: 3.53%
• 1Y: -4.01%
• 3Y*: 16.86%
• 5Y*: -4.05%
• 10Y*: -0.18%

OLP

• 1D: -0.98%
• 1M: 2.52%
• YTD: 16.66%
• 6M: 16.48%
• 1Y: 1.19%
• 3Y*: 12.16%
• 5Y*: 4.74%
• 10Y*: 7.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HIW vs. OLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIW Highwoods Properties, Inc.	8.86%	-9.61%	43.11%	-10.14%	-33.58%	17.63%	-14.76%	31.82%	-20.84%	3.36%
OLP One Liberty Properties, Inc.	16.66%	-19.58%	33.53%	7.57%	-32.34%	87.10%	-18.50%	19.44%	0.15%	10.90%

Correlation

The correlation between HIW and OLP is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 9, 1994	0.40

The correlation between HIW and OLP shifts across timeframes, from 0.40 (all time) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HIW : $3.02B OLP : $489.84M
EPS HIW : $0.55 OLP : $1.31
PE Ratio HIW : 49.14 OLP : 17.66
PS Ratio HIW : 4.92 OLP : 4.80
PB Ratio HIW : 1.28 OLP : 1.65
Total Revenue (TTM) HIW : $605.73M OLP : $101.35M
Gross Profit (TTM) HIW : $409.39M OLP : $26.40M
EBITDA (TTM) HIW : $478.95M OLP : $84.01M

Return for Risk

HIW vs. OLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HIW

HIW Risk / Return Rank: 33
HIW Sharpe Ratio Rank: 34
HIW Sortino Ratio Rank: 29
HIW Omega Ratio Rank: 29
HIW Calmar Ratio Rank: 37
HIW Martin Ratio Rank: 36

OLP

OLP Risk / Return Rank: 39
OLP Sharpe Ratio Rank: 43
OLP Sortino Ratio Rank: 35
OLP Omega Ratio Rank: 34
OLP Calmar Ratio Rank: 41
OLP Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HIW vs. OLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Highwoods Properties, Inc. (HIW) and One Liberty Properties, Inc. (OLP). 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	OLP	Difference
Sharpe ratio Return per unit of total volatility	-0.15	0.06	-0.21
Sortino ratio Return per unit of downside risk	-0.03	0.22	-0.25
Omega ratio Gain probability vs. loss probability	1.00	1.03	-0.03
Calmar ratio Return relative to maximum drawdown	-0.12	0.06	-0.18
Martin ratio Return relative to average drawdown	-0.24	0.12	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIW vs. OLP - Sharpe Ratio Comparison

The current HIW Sharpe Ratio is -0.15, which is lower than the OLP Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of HIW and OLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HIW	OLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.15	0.06	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.20	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	0.25	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.34	-0.12

Drawdowns

HIW vs. OLP - Drawdown Comparison

The maximum HIW drawdown since its inception was -63.47%, smaller than the maximum OLP drawdown of -87.45%. Use the drawdown chart below to compare losses from any high point for HIW and OLP.

Drawdown Indicators

	HIW	OLP	Difference
Max Drawdown Largest peak-to-trough decline	-63.47%	-87.45%	+23.98%
Max Drawdown (1Y) Largest decline over 1 year	-34.03%	-18.57%	-15.46%
Max Drawdown (3Y) Largest decline over 3 years	-37.09%	-28.83%	-8.26%
Max Drawdown (5Y) Largest decline over 5 years	-58.40%	-44.10%	-14.30%
Max Drawdown (10Y) Largest decline over 10 years	-58.93%	-60.23%	+1.30%
Current Drawdown Current decline from peak	-22.22%	-13.82%	-8.40%
Average Drawdown Average peak-to-trough decline	-14.58%	-13.42%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.88%	9.86%	+7.02%

Volatility

HIW vs. OLP - Volatility Comparison

Highwoods Properties, Inc. (HIW) has a higher volatility of 7.05% compared to One Liberty Properties, Inc. (OLP) at 5.32%. This indicates that HIW's price experiences larger fluctuations and is considered to be riskier than OLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIW	OLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	5.32%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	22.64%	12.39%	+10.25%
Volatility (1Y) Calculated over the trailing 1-year period	26.43%	19.15%	+7.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.19%	24.08%	+6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.49%	31.68%	-1.19%

Dividends

HIW vs. OLP - Dividend Comparison

HIW's dividend yield for the trailing twelve months is around 7.42%, less than OLP's 7.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIW Highwoods Properties, Inc.	7.42%	7.75%	6.54%	8.71%	7.15%	4.40%	4.84%	3.88%	4.78%	3.46%	4.90%	3.90%
OLP One Liberty Properties, Inc.	7.76%	8.87%	6.61%	8.22%	8.10%	5.10%	8.97%	6.62%	7.43%	6.71%	6.61%	7.36%

Financials

Frequently Asked Questions

Can I hold both HIW and OLP in my portfolio?

HIW and OLP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIW or OLP?

HIW has higher volatility (7.05%) compared to OLP (5.32%). In terms of maximum drawdown, HIW dropped -63.47% vs OLP's -87.45%.

Which has better risk-adjusted returns?

OLP currently has the higher Sharpe Ratio (0.06 vs -0.15), 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.