BNL vs VNQ: Correlation
How closely do Bro (BNL) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNL and VNQ?
Across a 3-year window, the weekly returns of BNL and VNQ correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 244.7 %².
Few assets follow BNL as closely as VNQ, which ranks #3 of 13 tracked partners. Over the last 12 months BNL came out ahead by 12.1 percentage points (+22.4% against +10.3%).
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 VNQ: side by side
| BNL (Bro) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +22.4% | +10.3% |
| 5-year return | +7.7% | +9.5% |
| Volatility (ann.) | 21.0% | 16.6% |
| Beta vs S&P 500 | 0.31 | 0.59 |
| Max drawdown (3Y) | -19.5% | -17.5% |
| Market cap | $4.5B | – |
| P/E (trailing) | 28.2 | – |
| Dividend yield | 5.47% | 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 | BNL | VNQ |
|---|---|---|
| 2022 | -30.8% | -26.3% |
| 2023 | +14.0% | +11.9% |
| 2024 | -1.1% | +4.8% |
| 2025 | +17.3% | +3.2% |
| 2026 | +25.3% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.21% of VNQ is BNL itself, so the fund partly moves with the stock by construction.
Are BNL and VNQ good diversifiers for each other?
Only partially. A correlation of 0.70 means BNL 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 BNL and VNQ?
As of 2026-08-27, the correlation of weekly returns between BNL and VNQ is 0.70 over 3 years, 0.66 over 1 year and 0.72 over 5 years.
Is VNQ a good diversifier for BNL?
Only partially. A correlation of 0.70 means BNL 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 0.70 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/bnl-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bnl-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BNL correlations · VNQ correlations
