CDP vs VNQ: Correlation
COPT Defense Properties (CDP) and Vanguard Real Estate ETF (VNQ) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDP and VNQ?
Over the past 3 years, CDP and VNQ moved with a correlation of 0.63, which is strong. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 211.0 %².
Among the 11 assets we track against CDP, VNQ ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CDP ahead by 24.1 points (+34.4% versus +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.
CDP vs VNQ: side by side
| CDP (COPT Defense Properties) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +34.4% | +10.3% |
| 5-year return | +64.2% | +9.5% |
| Volatility (ann.) | 20.1% | 16.6% |
| Beta vs S&P 500 | 0.32 | 0.59 |
| Max drawdown (3Y) | -23.7% | -17.5% |
| Market cap | $4.3B | – |
| P/E (trailing) | 25.9 | – |
| Dividend yield | 3.35% | 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 | CDP | VNQ |
|---|---|---|
| 2022 | -3.3% | -26.3% |
| 2023 | +3.7% | +11.9% |
| 2024 | +26.2% | +4.8% |
| 2025 | -6.2% | +3.2% |
| 2026 | +36.7% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.22% of VNQ is CDP itself, so the fund partly moves with the stock by construction.
Are CDP and VNQ good diversifiers for each other?
Only partially. A correlation of 0.63 means CDP 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 CDP and VNQ?
The CDP/VNQ correlation stands at 0.63 on a 3-year window (1 year: 0.53, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for CDP?
Only partially. A correlation of 0.63 means CDP 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 0.63 mean?
A reading of 0.63 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/cdp-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cdp-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CDP correlations · VNQ correlations
