CTAS vs VNQ: Correlation
How closely do Cintas (CTAS) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and VNQ?
Over the past 3 years, CTAS and VNQ moved with a correlation of 0.51, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 193.8 %².
Among the 38 assets we track against CTAS, VNQ ranks #11 by 3-year correlation. Over the last 12 months VNQ came out ahead by 13.6 percentage points (-3.3% against +10.3%). The rolling one-year correlation moved between 0.42 and 0.73 over the past three years, a moderate range.
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.
CTAS vs VNQ: side by side
| CTAS (Cintas) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -3.3% | +10.3% |
| 5-year return | +117.4% | +9.5% |
| Volatility (ann.) | 23.2% | 16.6% |
| Beta vs S&P 500 | 0.71 | 0.59 |
| Max drawdown (3Y) | -27.7% | -17.5% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | Industrials | 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 | CTAS | VNQ |
|---|---|---|
| 2022 | +3.0% | -26.3% |
| 2023 | +34.8% | +11.9% |
| 2024 | +22.2% | +4.8% |
| 2025 | +3.8% | +3.2% |
| 2026 | +9.4% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and VNQ good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CTAS and VNQ?
The CTAS/VNQ correlation stands at 0.51 on a 3-year window (1 year: 0.52, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for CTAS?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
A reading of 0.51 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/ctas-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctas-vs-vnq/)
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Related comparisons
Hubs: CTAS correlations · VNQ correlations
