ESS vs RQI: Correlation
Measured on weekly returns over the past three years, Essex Property Trust (ESS) and Cohen & Steers Quality Income Realty Fund Inc (RQI) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and RQI?
Over the past 3 years, ESS and RQI moved with a correlation of 0.63, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.47 versus 0.63 over 3 years. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 304.2 %².
By 3-year correlation, RQI places #15 of the 31 assets tracked against ESS. Neither side won the trailing year by much: +9.1% against +8.6%.
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 RQI: side by side
| ESS (Essex Property Trust) | RQI (Cohen & Steers Quality Income Realty Fund Inc) | |
|---|---|---|
| 1-year return | +9.1% | +8.6% |
| 5-year return | +3.0% | +16.3% |
| Volatility (ann.) | 22.2% | 21.6% |
| Beta vs S&P 500 | 0.64 | 0.77 |
| Max drawdown (3Y) | -20.8% | -21.0% |
| Market cap | $19.4B | $1.7B |
| P/E (trailing) | 44.8 | 35.2 |
| Dividend yield | 3.58% | 7.74% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ESS | RQI |
|---|---|---|
| 2022 | -37.8% | -31.1% |
| 2023 | +22.0% | +15.7% |
| 2024 | +18.4% | +8.0% |
| 2025 | -5.0% | +2.1% |
| 2026 | +10.5% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and RQI good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ESS and RQI?
The ESS/RQI correlation stands at 0.63 on a 3-year window (1 year: 0.47, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is RQI a good diversifier for ESS?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/ess-vs-rqi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ess-vs-rqi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESS correlations · RQI correlations
