CZNC vs WHLR: Correlation
How closely do Citizens & Northern Corp (CZNC) and Wheeler Real Estate Investment Trust, Inc. (WHLR) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZNC and WHLR?
Across a 3-year window, the weekly returns of CZNC and WHLR correlate at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. Stretching to 5 years gives -0.15, with an annualized covariance of -2743.7 %².
Among the 14 assets we track against CZNC, WHLR sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months CZNC outperformed by 132.5 percentage points (+32.5% for CZNC against -100.0% for WHLR). One caveat on sizing: WHLR is 19.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CZNC vs WHLR: side by side
| CZNC (Citizens & Northern Corp) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | -100.0% |
| 5-year return | +31.8% | -100.0% |
| Volatility (ann.) | 27.6% | 545.0% |
| Beta vs S&P 500 | 0.57 | -5.84 |
| Max drawdown (3Y) | -26.1% | -100.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | 17.3 | 0.0 |
| Dividend yield | 4.42% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CZNC | WHLR |
|---|---|---|
| 2022 | -8.4% | -28.0% |
| 2023 | +3.7% | -98.4% |
| 2024 | -12.2% | -98.4% |
| 2025 | +14.9% | -100.0% |
| 2026 | +31.0% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZNC and WHLR good diversifiers for each other?
Yes. With a correlation of -0.18, CZNC and WHLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CZNC and WHLR?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.24 over the last year and -0.15 over 5 years.
Is WHLR a good diversifier for CZNC?
Yes. With a correlation of -0.18, CZNC and WHLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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.
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Related comparisons
Hubs: CZNC correlations · WHLR correlations
