BGS vs IIPR: Correlation
How closely do B&G Foods, Inc. (BGS) and Innovative Industrial Properties, Inc. (IIPR) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGS and IIPR?
Over the past 3 years, BGS and IIPR moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 946.8 %².
In BGS's tracked universe of 15 assets, IIPR sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months IIPR outperformed by 26.2 percentage points (-11.2% for BGS against +15.0% for IIPR).
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.
BGS vs IIPR: side by side
| BGS (B&G Foods, Inc.) | IIPR (Innovative Industrial Properties, Inc.) | |
|---|---|---|
| 1-year return | -11.2% | +15.0% |
| 5-year return | -80.9% | -63.8% |
| Volatility (ann.) | 54.4% | 39.6% |
| Beta vs S&P 500 | 0.09 | 0.85 |
| Max drawdown (3Y) | -63.6% | -62.9% |
| Market cap | $0.3B | $1.6B |
| P/E (trailing) | – | 12.8 |
| Dividend yield | 18.84% | 13.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGS | IIPR |
|---|---|---|
| 2022 | -60.7% | -59.0% |
| 2023 | +0.3% | +8.8% |
| 2024 | -28.3% | -28.5% |
| 2025 | -26.8% | -18.4% |
| 2026 | -14.2% | +27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGS and IIPR good diversifiers for each other?
Reasonably. At 0.44, BGS and IIPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGS and IIPR?
The BGS/IIPR correlation stands at 0.44 on a 3-year window (1 year: 0.40, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is IIPR a good diversifier for BGS?
Reasonably. At 0.44, BGS and IIPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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/bgs-vs-iipr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgs-vs-iipr/)
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Related comparisons
Hubs: BGS correlations · IIPR correlations
