CCI vs GLPI: Correlation
How closely do Crown Castle (CCI) and Gaming and Leisure Properties, Inc. (GLPI) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and GLPI?
Across a 3-year window, the weekly returns of CCI and GLPI correlate at 0.57, moderate. The past 12 months show a weaker link (0.46) than the 3-year average (0.57). Stretching to 5 years gives 0.53, with an annualized covariance of 275.3 %².
Within CCI's tracked universe of 30 assets, GLPI comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GLPI ahead by 16.0 points (-21.5% versus -5.5%). One caveat on sizing: CCI is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CCI vs GLPI: side by side
| CCI (Crown Castle) | GLPI (Gaming and Leisure Properties, Inc.) | |
|---|---|---|
| 1-year return | -21.5% | -5.5% |
| 5-year return | -50.4% | +19.9% |
| Volatility (ann.) | 28.4% | 17.1% |
| Beta vs S&P 500 | 0.22 | 0.29 |
| Max drawdown (3Y) | -33.0% | -14.9% |
| Market cap | $32.8B | $12.7B |
| P/E (trailing) | 30.9 | 12.4 |
| Dividend yield | 5.63% | 7.42% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CCI | GLPI |
|---|---|---|
| 2022 | -32.6% | +13.5% |
| 2023 | -10.2% | +0.9% |
| 2024 | -16.4% | +3.9% |
| 2025 | +3.0% | -0.8% |
| 2026 | -13.5% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and GLPI good diversifiers for each other?
Only partially. A correlation of 0.57 means CCI and GLPI 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 CCI and GLPI?
The CCI/GLPI correlation stands at 0.57 on a 3-year window (1 year: 0.46, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is GLPI a good diversifier for CCI?
Only partially. A correlation of 0.57 means CCI and GLPI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CCI correlations · GLPI correlations
