CASY vs TRNO: Correlation
How closely do Casey's (CASY) and Terreno Realty Corporation (TRNO) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and TRNO?
On 3 years of weekly data the CASY/TRNO correlation comes out at 0.31, moderate. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.31). The 5-year figure is 0.37, and annualized covariance runs at 216.9 %².
Within CASY's tracked universe of 30 assets, TRNO comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CASY ahead by 33.6 points (+53.7% versus +20.1%).
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.
CASY vs TRNO: side by side
| CASY (Casey's) | TRNO (Terreno Realty Corporation) | |
|---|---|---|
| 1-year return | +53.7% | +20.1% |
| 5-year return | +284.3% | +15.7% |
| Volatility (ann.) | 28.9% | 24.4% |
| Beta vs S&P 500 | 0.39 | 0.66 |
| Max drawdown (3Y) | -16.6% | -26.3% |
| Market cap | $28.2B | $7.3B |
| P/E (trailing) | 42.2 | 18.1 |
| Dividend yield | 0.28% | 3.08% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CASY | TRNO |
|---|---|---|
| 2022 | +14.5% | -31.6% |
| 2023 | +23.3% | +13.4% |
| 2024 | +45.0% | -2.8% |
| 2025 | +40.1% | +2.7% |
| 2026 | +38.4% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and TRNO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CASY and TRNO?
The CASY/TRNO correlation stands at 0.31 on a 3-year window (1 year: 0.48, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is TRNO a good diversifier for CASY?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/casy-vs-trno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/casy-vs-trno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CASY correlations · TRNO correlations
