GUG vs JRS: Correlation
Measured on weekly returns over the past three years, Guggenheim Active Allocation Fund (GUG) and Nuveen Real Estate Income Fund (JRS) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GUG and JRS?
On 3 years of weekly data the GUG/JRS correlation comes out at 0.64, strong. The past 12 months show a weaker link (0.53) than the 3-year average (0.64). The 5-year figure is 0.67, and annualized covariance runs at 174.7 %².
JRS is one of the assets that tracks GUG most closely: it ranks #2 out of the 12 assets we track against GUG. Over the last 12 months JRS came out ahead by 9.0 percentage points (+5.4% against +14.4%). Note the risk asymmetry: JRS runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GUG vs JRS: side by side
| GUG (Guggenheim Active Allocation Fund) | JRS (Nuveen Real Estate Income Fund) | |
|---|---|---|
| 1-year return | +5.4% | +14.4% |
| 5-year return | +16.3% | +13.5% |
| Volatility (ann.) | 12.9% | 21.1% |
| Beta vs S&P 500 | 0.40 | 0.79 |
| Max drawdown (3Y) | -12.1% | -25.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 0.00% | 8.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GUG | JRS |
|---|---|---|
| 2022 | -26.5% | -35.6% |
| 2023 | +20.7% | +13.4% |
| 2024 | +11.5% | +19.7% |
| 2025 | +13.1% | -3.4% |
| 2026 | +4.2% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUG and JRS good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GUG and JRS?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.53 over the last year and 0.67 over 5 years.
Is JRS a good diversifier for GUG?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/gug-vs-jrs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gug-vs-jrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GUG correlations · JRS correlations
