BNL vs GNL: Correlation
Bro (BNL) and Global Net Lease, Inc. (GNL) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNL and GNL?
Across a 3-year window, the weekly returns of BNL and GNL correlate at 0.64, strong. The past 12 months show a weaker link (0.31) than the 3-year average (0.64). Stretching to 5 years gives 0.69, with an annualized covariance of 390.8 %².
Within BNL's tracked universe of 13 assets, GNL comes in at #6 by 3-year correlation. On 12-month performance GNL holds a 5.8-point edge, +22.4% against +28.2%.
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.
BNL vs GNL: side by side
| BNL (Bro) | GNL (Global Net Lease, Inc.) | |
|---|---|---|
| 1-year return | +22.4% | +28.2% |
| 5-year return | +7.7% | -2.7% |
| Volatility (ann.) | 21.0% | 29.0% |
| Beta vs S&P 500 | 0.31 | 0.50 |
| Max drawdown (3Y) | -19.5% | -35.6% |
| Market cap | $4.5B | $2.1B |
| P/E (trailing) | 28.2 | – |
| Dividend yield | 5.47% | 8.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNL | GNL |
|---|---|---|
| 2022 | -30.8% | -7.5% |
| 2023 | +14.0% | -9.0% |
| 2024 | -1.1% | -15.3% |
| 2025 | +17.3% | +32.4% |
| 2026 | +25.3% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNL and GNL good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BNL and GNL?
The BNL/GNL correlation stands at 0.64 on a 3-year window (1 year: 0.31, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is GNL a good diversifier for BNL?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bnl-vs-gnl.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BNL correlations · GNL correlations
