ESS vs JRS: Correlation
Measured on weekly returns over the past three years, Essex Property Trust (ESS) and Nuveen Real Estate Income Fund (JRS) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and JRS?
On 3 years of weekly data the ESS/JRS correlation comes out at 0.73, strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.73). The 5-year figure is 0.72, and annualized covariance runs at 344.8 %².
Among the 31 assets we track against ESS, JRS ranks #7 by 3-year correlation. The trailing year gives JRS the advantage: +9.1% versus +14.4%, a 5.3-point spread.
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.
ESS vs JRS: side by side
| ESS (Essex Property Trust) | JRS (Nuveen Real Estate Income Fund) | |
|---|---|---|
| 1-year return | +9.1% | +14.4% |
| 5-year return | +3.0% | +13.5% |
| Volatility (ann.) | 22.2% | 21.1% |
| Beta vs S&P 500 | 0.64 | 0.79 |
| Max drawdown (3Y) | -20.8% | -25.3% |
| Market cap | $19.4B | – |
| P/E (trailing) | 44.8 | – |
| Dividend yield | 3.58% | 8.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ESS | JRS |
|---|---|---|
| 2022 | -37.8% | -35.6% |
| 2023 | +22.0% | +13.4% |
| 2024 | +18.4% | +19.7% |
| 2025 | -5.0% | -3.4% |
| 2026 | +10.5% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and JRS good diversifiers for each other?
Only partially. A correlation of 0.73 means ESS 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 ESS and JRS?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.56 over the last year and 0.72 over 5 years.
Is JRS a good diversifier for ESS?
Only partially. A correlation of 0.73 means ESS 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 0.73 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/ess-vs-jrs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ess-vs-jrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESS correlations · JRS correlations
