FCPT vs NNN: Correlation
Four Corners Property Trust, Inc. (FCPT) and NNN REIT, Inc. (NNN) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCPT and NNN?
Across a 3-year window, the weekly returns of FCPT and NNN correlate at 0.74, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 242.9 %².
Among the 17 assets we track against FCPT, NNN ranks #4 by 3-year correlation. The trailing year gives NNN the advantage: +3.8% versus +13.1%, a 9.3-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.
FCPT vs NNN: side by side
| FCPT (Four Corners Property Trust, Inc.) | NNN (NNN REIT, Inc.) | |
|---|---|---|
| 1-year return | +3.8% | +13.1% |
| 5-year return | +16.6% | +25.1% |
| Volatility (ann.) | 17.5% | 18.8% |
| Beta vs S&P 500 | 0.32 | 0.31 |
| Max drawdown (3Y) | -20.2% | -22.0% |
| Market cap | $2.8B | $8.6B |
| P/E (trailing) | 22.9 | 22.3 |
| Dividend yield | 5.75% | 5.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCPT | NNN |
|---|---|---|
| 2022 | -7.2% | -0.0% |
| 2023 | +3.1% | -0.6% |
| 2024 | +13.1% | -0.1% |
| 2025 | -10.1% | +2.8% |
| 2026 | +13.1% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCPT and NNN good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FCPT and NNN?
The FCPT/NNN correlation stands at 0.74 on a 3-year window (1 year: 0.74, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is NNN a good diversifier for FCPT?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/fcpt-vs-nnn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcpt-vs-nnn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCPT correlations · NNN correlations
