CPT vs VNQ: Correlation
How closely do Camden Property Trust (CPT) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPT and VNQ?
Across a 3-year window, the weekly returns of CPT and VNQ correlate at 0.74, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.74 over 3. Stretching to 5 years gives 0.79, with an annualized covariance of 259.0 %².
Within CPT's tracked universe of 33 assets, VNQ comes in at #8 by 3-year correlation. Over the last 12 months VNQ came out ahead by 10.7 percentage points (-0.4% against +10.3%). Across three years, the rolling one-year figure varied moderately, from 0.61 to 0.87.
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.
CPT vs VNQ: side by side
| CPT (Camden Property Trust) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -0.4% | +10.3% |
| 5-year return | -15.4% | +9.5% |
| Volatility (ann.) | 21.3% | 16.6% |
| Beta vs S&P 500 | 0.55 | 0.59 |
| Max drawdown (3Y) | -21.7% | -17.5% |
| Market cap | $12.2B | – |
| P/E (trailing) | 35.5 | – |
| Dividend yield | 3.92% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | Real Estate | 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 | CPT | VNQ |
|---|---|---|
| 2022 | -35.6% | -26.3% |
| 2023 | -7.6% | +11.9% |
| 2024 | +21.3% | +4.8% |
| 2025 | -1.5% | +3.2% |
| 2026 | -2.0% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.56% of VNQ is CPT itself, so the fund partly moves with the stock by construction.
Are CPT and VNQ good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CPT and VNQ?
The CPT/VNQ correlation stands at 0.74 on a 3-year window (1 year: 0.67, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for CPT?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/cpt-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cpt-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPT correlations · VNQ correlations
