FCPT vs VNQ: Correlation
Measured on weekly returns over the past three years, Four Corners Property Trust, Inc. (FCPT) and Vanguard Real Estate ETF (VNQ) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCPT and VNQ?
Over the past 3 years, FCPT and VNQ moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 225.3 %².
In FCPT's tracked universe of 17 assets, VNQ sits right near the top at #1. On 12-month performance VNQ holds a 6.5-point edge, +3.8% against +10.3%.
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 VNQ: side by side
| FCPT (Four Corners Property Trust, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +3.8% | +10.3% |
| 5-year return | +16.6% | +9.5% |
| Volatility (ann.) | 17.5% | 16.6% |
| Beta vs S&P 500 | 0.32 | 0.59 |
| Max drawdown (3Y) | -20.2% | -17.5% |
| Market cap | $2.8B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 5.75% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | FCPT | VNQ |
|---|---|---|
| 2022 | -7.2% | -26.3% |
| 2023 | +3.1% | +11.9% |
| 2024 | +13.1% | +4.8% |
| 2025 | -10.1% | +3.2% |
| 2026 | +13.1% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
FCPT represents 0.15% of VNQ's portfolio, so part of any move in VNQ is FCPT itself, and the correlation between them is partly mechanical.
Are FCPT and VNQ good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FCPT and VNQ?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.69 over the last year and 0.77 over 5 years.
Is VNQ a good diversifier for FCPT?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
A reading of 0.78 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcpt-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcpt-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCPT correlations · VNQ correlations
