ELS vs RFI: Correlation
Measured on weekly returns over the past three years, Equity Lifestyle Properties, Inc. (ELS) and Cohen & Steers Total Return Realty Fund, Inc. (RFI) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELS and RFI?
Across a 3-year window, the weekly returns of ELS and RFI correlate at 0.59, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.59 over 3. Stretching to 5 years gives 0.60, with an annualized covariance of 186.1 %².
By 3-year correlation, RFI places #4 of the 11 assets tracked against ELS. On 12-month performance ELS holds a 6.5-point edge, +10.2% against +3.7%.
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.
ELS vs RFI: side by side
| ELS (Equity Lifestyle Properties, Inc.) | RFI (Cohen & Steers Total Return Realty Fund, Inc.) | |
|---|---|---|
| 1-year return | +10.2% | +3.7% |
| 5-year return | -12.6% | +5.1% |
| Volatility (ann.) | 17.5% | 18.1% |
| Beta vs S&P 500 | 0.07 | 0.57 |
| Max drawdown (3Y) | -21.0% | -16.2% |
| Market cap | $12.8B | – |
| P/E (trailing) | 31.2 | 27.1 |
| Dividend yield | 3.27% | 8.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELS | RFI |
|---|---|---|
| 2022 | -24.5% | -22.1% |
| 2023 | +12.2% | +4.4% |
| 2024 | -2.8% | +6.6% |
| 2025 | -5.9% | +3.6% |
| 2026 | +7.3% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELS and RFI good diversifiers for each other?
Only partially. A correlation of 0.59 means ELS and RFI 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 ELS and RFI?
The ELS/RFI correlation stands at 0.59 on a 3-year window (1 year: 0.59, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is RFI a good diversifier for ELS?
Only partially. A correlation of 0.59 means ELS and RFI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/els-vs-rfi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/els-vs-rfi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ELS correlations · RFI correlations
