FNF vs VNQ: Correlation
Measured on weekly returns over the past three years, Fidelity National Financial, Inc. (FNF) and Vanguard Real Estate ETF (VNQ) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNF and VNQ?
Across a 3-year window, the weekly returns of FNF and VNQ correlate at 0.60, strong. The past 12 months show a weaker link (0.43) than the 3-year average (0.60). Stretching to 5 years gives 0.61, with an annualized covariance of 244.7 %².
By 3-year correlation, VNQ places #5 of the 14 assets tracked against FNF. Their recent paths diverged sharply: over the last 12 months VNQ outperformed by 26.0 percentage points (-15.7% for FNF against +10.3% for VNQ).
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.
FNF vs VNQ: side by side
| FNF (Fidelity National Financial, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -15.7% | +10.3% |
| 5-year return | +27.3% | +9.5% |
| Volatility (ann.) | 24.8% | 16.6% |
| Beta vs S&P 500 | 0.66 | 0.59 |
| Max drawdown (3Y) | -30.0% | -17.5% |
| Market cap | $12.7B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 4.34% | 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 | FNF | VNQ |
|---|---|---|
| 2022 | -21.6% | -26.3% |
| 2023 | +42.2% | +11.9% |
| 2024 | +14.0% | +4.8% |
| 2025 | +4.4% | +3.2% |
| 2026 | -11.4% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNF and VNQ good diversifiers for each other?
To a limited degree. At 0.60 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 FNF and VNQ?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.43 over the last year and 0.61 over 5 years.
Is VNQ a good diversifier for FNF?
To a limited degree. At 0.60 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 0.60 mean?
On the −1 to +1 scale, 0.60 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/fnf-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fnf-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNF correlations · VNQ correlations
