FPI vs JRS: Correlation
Measured on weekly returns over the past three years, Farmland Partners Inc. (FPI) and Nuveen Real Estate Income Fund (JRS) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FPI and JRS?
Over the past 3 years, FPI and JRS moved with a correlation of 0.46, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.46 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 232.3 %².
JRS is one of the assets that tracks FPI most closely: it ranks #2 out of the 11 assets we track against FPI. Their recent paths diverged sharply: over the last 12 months JRS outperformed by 17.0 percentage points (-2.6% for FPI against +14.4% for JRS).
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.
FPI vs JRS: side by side
| FPI (Farmland Partners Inc.) | JRS (Nuveen Real Estate Income Fund) | |
|---|---|---|
| 1-year return | -2.6% | +14.4% |
| 5-year return | +8.2% | +13.5% |
| Volatility (ann.) | 23.7% | 21.1% |
| Beta vs S&P 500 | 0.53 | 0.79 |
| Max drawdown (3Y) | -27.0% | -25.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 2.90% | 8.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FPI | JRS |
|---|---|---|
| 2022 | +6.1% | -35.6% |
| 2023 | +4.0% | +13.4% |
| 2024 | +5.7% | +19.7% |
| 2025 | -14.1% | -3.4% |
| 2026 | +8.3% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FPI and JRS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FPI and JRS?
The FPI/JRS correlation stands at 0.46 on a 3-year window (1 year: 0.46, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is JRS a good diversifier for FPI?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/fpi-vs-jrs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fpi-vs-jrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FPI correlations · JRS correlations
