CNS vs VNQ: Correlation
Cohen & Steers Inc (CNS) and Vanguard Real Estate ETF (VNQ) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNS and VNQ?
On 3 years of weekly data the CNS/VNQ correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.72, and annualized covariance runs at 344.7 %².
Few assets follow CNS as closely as VNQ, which ranks #2 of 13 tracked partners. Their 12-month results are close: +13.7% for CNS against +10.3% for VNQ. Note the risk asymmetry: CNS runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CNS vs VNQ: side by side
| CNS (Cohen & Steers Inc) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +13.7% | +10.3% |
| 5-year return | +11.8% | +9.5% |
| Volatility (ann.) | 30.4% | 16.6% |
| Beta vs S&P 500 | 0.83 | 0.59 |
| Max drawdown (3Y) | -42.6% | -17.5% |
| Market cap | $4.2B | – |
| P/E (trailing) | 25.7 | – |
| Dividend yield | 3.10% | 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 | CNS | VNQ |
|---|---|---|
| 2022 | -28.0% | -26.3% |
| 2023 | +21.8% | +11.9% |
| 2024 | +25.5% | +4.8% |
| 2025 | -29.8% | +3.2% |
| 2026 | +35.3% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNS and VNQ good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CNS and VNQ?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.61 over the last year and 0.72 over 5 years.
Is VNQ a good diversifier for CNS?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 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/cns-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cns-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNS correlations · VNQ correlations
