CTO vs VNQ: Correlation
How closely do CTO Realty Growth, Inc. (CTO) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTO and VNQ?
Across a 3-year window, the weekly returns of CTO and VNQ correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 196.4 %².
Few assets follow CTO as closely as VNQ, which ranks #3 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with CTO ahead by 25.5 points (+35.8% 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.
CTO vs VNQ: side by side
| CTO (CTO Realty Growth, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +35.8% | +10.3% |
| 5-year return | +74.0% | +9.5% |
| Volatility (ann.) | 18.0% | 16.6% |
| Beta vs S&P 500 | 0.39 | 0.59 |
| Max drawdown (3Y) | -21.4% | -17.5% |
| Market cap | $0.8B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 7.00% | 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 | CTO | VNQ |
|---|---|---|
| 2022 | -4.0% | -26.3% |
| 2023 | +3.7% | +11.9% |
| 2024 | +23.6% | +4.8% |
| 2025 | +1.6% | +3.2% |
| 2026 | +21.0% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTO and VNQ good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTO and VNQ?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.64 over the last year and 0.66 over 5 years.
Is VNQ a good diversifier for CTO?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cto-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cto-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CTO correlations · VNQ correlations
