CCI vs NTST: Correlation
Measured on weekly returns over the past three years, Crown Castle (CCI) and NetSTREIT Corp. (NTST) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and NTST?
Over the past 3 years, CCI and NTST moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 377.4 %².
Within CCI's tracked universe of 30 assets, NTST comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTST ahead by 38.5 points (-21.5% versus +17.0%).
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 NTST: side by side
| CCI (Crown Castle) | NTST (NetSTREIT Corp.) | |
|---|---|---|
| 1-year return | -21.5% | +17.0% |
| 5-year return | -50.4% | -2.0% |
| Volatility (ann.) | 28.4% | 23.4% |
| Beta vs S&P 500 | 0.22 | 0.44 |
| Max drawdown (3Y) | -33.0% | -23.0% |
| Market cap | $32.8B | $2.1B |
| P/E (trailing) | 30.9 | 146.6 |
| Dividend yield | 5.63% | 4.19% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CCI | NTST |
|---|---|---|
| 2022 | -32.6% | -16.8% |
| 2023 | -10.2% | +2.1% |
| 2024 | -16.4% | -16.7% |
| 2025 | +3.0% | +31.2% |
| 2026 | -13.5% | +18.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and NTST good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCI and NTST?
The CCI/NTST correlation stands at 0.57 on a 3-year window (1 year: 0.48, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is NTST a good diversifier for CCI?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/cci-vs-ntst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cci-vs-ntst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCI correlations · NTST correlations
