AHR vs VNQ: Correlation
How closely do American Healthcare REIT, Inc. (AHR) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AHR and VNQ?
On 3 years of weekly data the AHR/VNQ correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 220.0 %².
VNQ is one of the assets that tracks AHR most closely: it ranks #2 out of the 11 assets we track against AHR. Correlation aside, the last 12 months split them widely, with AHR ahead by 24.7 points (+35.0% versus +10.3%). Risk is not evenly split, since AHR carries 1.6 times the volatility of the other side.
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.
AHR vs VNQ: side by side
| AHR (American Healthcare REIT, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +35.0% | +10.3% |
| 5-year return | n/a | +9.5% |
| Volatility (ann.) | 26.9% | 16.6% |
| Beta vs S&P 500 | 0.50 | 0.59 |
| Max drawdown (3Y) | -13.6% | -17.5% |
| Market cap | $12.3B | – |
| P/E (trailing) | 84.3 | – |
| Dividend yield | 1.75% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | AHR | VNQ |
|---|---|---|
| 2022 | – | -26.3% |
| 2023 | – | +11.9% |
| 2024 | – | +4.8% |
| 2025 | +70.0% | +3.2% |
| 2026 | +21.2% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VNQ holds AHR at a 0.56% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AHR and VNQ good diversifiers for each other?
Only partially. A correlation of 0.54 means AHR and VNQ 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 AHR and VNQ?
The AHR/VNQ correlation stands at 0.54 on a 3-year window (1 year: 0.55, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for AHR?
Only partially. A correlation of 0.54 means AHR and VNQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 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/ahr-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ahr-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AHR correlations · VNQ correlations
