EARN vs JRS: Correlation
How closely do Ellington Credit Company (EARN) and Nuveen Real Estate Income Fund (JRS) 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 EARN and JRS?
Across a 3-year window, the weekly returns of EARN and JRS correlate at 0.66, strong. Lately the two have drifted apart, with the 1-year correlation at 0.54 versus 0.66 over 3 years. Stretching to 5 years gives 0.63, with an annualized covariance of 347.0 %².
In EARN's tracked universe of 14 assets, JRS sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months JRS outperformed by 22.3 percentage points (-7.9% for EARN against +14.4% for JRS).
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.
EARN vs JRS: side by side
| EARN (Ellington Credit Company) | JRS (Nuveen Real Estate Income Fund) | |
|---|---|---|
| 1-year return | -7.9% | +14.4% |
| 5-year return | -17.5% | +13.5% |
| Volatility (ann.) | 24.8% | 21.1% |
| Beta vs S&P 500 | 0.92 | 0.79 |
| Max drawdown (3Y) | -31.2% | -25.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 15.9 | – |
| Dividend yield | 21.57% | 8.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EARN | JRS |
|---|---|---|
| 2022 | -25.0% | -35.6% |
| 2023 | +3.0% | +13.4% |
| 2024 | +24.6% | +19.7% |
| 2025 | -5.9% | -3.4% |
| 2026 | -5.0% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EARN and JRS good diversifiers for each other?
Only partially. A correlation of 0.66 means EARN and JRS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EARN and JRS?
The EARN/JRS correlation stands at 0.66 on a 3-year window (1 year: 0.54, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is JRS a good diversifier for EARN?
Only partially. A correlation of 0.66 means EARN and JRS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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/earn-vs-jrs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/earn-vs-jrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EARN correlations · JRS correlations
