FPI vs LAND: Correlation
How closely do Farmland Partners Inc. (FPI) and Gl (LAND) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FPI and LAND?
On 3 years of weekly data the FPI/LAND correlation comes out at 0.53, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.73 versus 0.53 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 336.6 %².
In FPI's tracked universe of 11 assets, LAND sits right near the top at #1. Over the last 12 months LAND came out ahead by 5.7 percentage points (-2.6% against +3.1%).
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 LAND: side by side
| FPI (Farmland Partners Inc.) | LAND (Gl) | |
|---|---|---|
| 1-year return | -2.6% | +3.1% |
| 5-year return | +8.2% | -53.7% |
| Volatility (ann.) | 23.7% | 26.6% |
| Beta vs S&P 500 | 0.53 | 0.52 |
| Max drawdown (3Y) | -27.0% | -41.6% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 2.90% | 6.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FPI | LAND |
|---|---|---|
| 2022 | +6.1% | -44.4% |
| 2023 | +4.0% | -18.5% |
| 2024 | +5.7% | -21.6% |
| 2025 | -14.1% | -10.7% |
| 2026 | +8.3% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FPI and LAND good diversifiers for each other?
To a limited degree. At 0.53 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 FPI and LAND?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.73 over the last year and 0.59 over 5 years.
Is LAND a good diversifier for FPI?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 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/fpi-vs-land.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fpi-vs-land/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FPI correlations · LAND correlations
