CCI vs RFI: Correlation
How closely do Crown Castle (CCI) and Cohen & Steers Total Return Realty Fund, Inc. (RFI) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and RFI?
Across a 3-year window, the weekly returns of CCI and RFI correlate at 0.60, strong. Recent behaviour matches the longer record: 0.54 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 310.6 %².
Among the 30 assets we track against CCI, RFI ranks #7 by 3-year correlation. The last year tells two different stories: RFI led by 25.2 percentage points, -21.5% for CCI against +3.7% for RFI. Risk is not evenly split, since CCI carries 1.6 times the volatility of the other side.
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 RFI: side by side
| CCI (Crown Castle) | RFI (Cohen & Steers Total Return Realty Fund, Inc.) | |
|---|---|---|
| 1-year return | -21.5% | +3.7% |
| 5-year return | -50.4% | +5.1% |
| Volatility (ann.) | 28.4% | 18.1% |
| Beta vs S&P 500 | 0.22 | 0.57 |
| Max drawdown (3Y) | -33.0% | -16.2% |
| Market cap | $32.8B | – |
| P/E (trailing) | 30.9 | 27.1 |
| Dividend yield | 5.63% | 8.41% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CCI | RFI |
|---|---|---|
| 2022 | -32.6% | -22.1% |
| 2023 | -10.2% | +4.4% |
| 2024 | -16.4% | +6.6% |
| 2025 | +3.0% | +3.6% |
| 2026 | -13.5% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and RFI good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCI and RFI?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.54 over the last year and 0.59 over 5 years.
Is RFI a good diversifier for CCI?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 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/cci-vs-rfi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cci-vs-rfi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCI correlations · RFI correlations
