CUBE vs VNQ: Correlation
CubeSmart (CUBE) and Vanguard Real Estate ETF (VNQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and VNQ?
On 3 years of weekly data the CUBE/VNQ correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.83 over 3. The 5-year figure is 0.81, and annualized covariance runs at 314.6 %².
Few assets follow CUBE as closely as VNQ, which ranks #3 of 24 tracked partners. Over the last 12 months VNQ came out ahead by 6.5 percentage points (+3.8% against +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.
CUBE vs VNQ: side by side
| CUBE (CubeSmart) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +3.8% | +10.3% |
| 5-year return | -6.2% | +9.5% |
| Volatility (ann.) | 23.0% | 16.6% |
| Beta vs S&P 500 | 0.63 | 0.59 |
| Max drawdown (3Y) | -32.0% | -17.5% |
| Market cap | $9.0B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 5.22% | 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 | CUBE | VNQ |
|---|---|---|
| 2022 | -26.3% | -26.3% |
| 2023 | +20.5% | +11.9% |
| 2024 | -4.5% | +4.8% |
| 2025 | -11.6% | +3.2% |
| 2026 | +15.7% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CUBE represents 0.48% of VNQ's portfolio, so part of any move in VNQ is CUBE itself, and the correlation between them is partly mechanical.
Are CUBE and VNQ good diversifiers for each other?
No: a correlation of 0.83 means CUBE and VNQ tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CUBE and VNQ?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.84 over the last year and 0.81 over 5 years.
Is VNQ a good diversifier for CUBE?
No: a correlation of 0.83 means CUBE and VNQ tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 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/cube-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cube-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CUBE correlations · VNQ correlations
