FPI vs RQI: Correlation
Farmland Partners Inc. (FPI) and Cohen & Steers Quality Income Realty Fund Inc (RQI) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FPI and RQI?
On 3 years of weekly data the FPI/RQI correlation comes out at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 228.1 %².
In FPI's tracked universe of 11 assets, RQI sits right near the top at #3. Over the last 12 months RQI came out ahead by 11.2 percentage points (-2.6% against +8.6%).
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 RQI: side by side
| FPI (Farmland Partners Inc.) | RQI (Cohen & Steers Quality Income Realty Fund Inc) | |
|---|---|---|
| 1-year return | -2.6% | +8.6% |
| 5-year return | +8.2% | +16.3% |
| Volatility (ann.) | 23.7% | 21.6% |
| Beta vs S&P 500 | 0.53 | 0.77 |
| Max drawdown (3Y) | -27.0% | -21.0% |
| Market cap | $0.5B | $1.7B |
| P/E (trailing) | 20.1 | 35.2 |
| Dividend yield | 2.90% | 7.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FPI | RQI |
|---|---|---|
| 2022 | +6.1% | -31.1% |
| 2023 | +4.0% | +15.7% |
| 2024 | +5.7% | +8.0% |
| 2025 | -14.1% | +2.1% |
| 2026 | +8.3% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FPI and RQI good diversifiers for each other?
Reasonably. At 0.45, FPI and RQI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FPI and RQI?
The FPI/RQI correlation stands at 0.45 on a 3-year window (1 year: 0.51, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is RQI a good diversifier for FPI?
Reasonably. At 0.45, FPI and RQI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/fpi-vs-rqi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fpi-vs-rqi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FPI correlations · RQI correlations
