HERZ vs LND: Correlation
Measured on weekly returns over the past three years, Herzfeld Credit Income Fund, Inc. - Closed End Fund (HERZ) and Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (LND) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HERZ and LND?
On 3 years of weekly data the HERZ/LND correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.19 over 3 years. The 5-year figure is -0.02, and annualized covariance runs at -141.9 %².
By 3-year correlation, LND places #10 of the 19 assets tracked against HERZ. Their recent paths diverged sharply: over the last 12 months HERZ outperformed by 27.1 percentage points (+22.0% for HERZ against -5.1% for LND). Note the risk asymmetry: HERZ runs 1.7 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.
HERZ vs LND: side by side
| HERZ (Herzfeld Credit Income Fund, Inc. - Closed End Fund) | LND (Brasilagro Brazilian Agric Real Estate Co Sponsored ADR) | |
|---|---|---|
| 1-year return | +22.0% | -5.1% |
| 5-year return | +1.5% | +2.5% |
| Volatility (ann.) | 35.4% | 20.6% |
| Beta vs S&P 500 | 0.10 | 0.07 |
| Max drawdown (3Y) | -41.6% | -32.5% |
| Market cap | – | – |
| P/E (trailing) | 80.0 | – |
| Dividend yield | 57.89% | 20.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HERZ | LND |
|---|---|---|
| 2022 | -20.4% | +23.6% |
| 2023 | -13.6% | +3.9% |
| 2024 | +2.9% | -27.2% |
| 2025 | +89.3% | -0.8% |
| 2026 | -24.3% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HERZ and LND good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HERZ and LND?
As of 2026-08-27, the correlation of weekly returns between HERZ and LND is -0.19 over 3 years, -0.35 over 1 year and -0.02 over 5 years.
Is LND a good diversifier for HERZ?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
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Related comparisons
Hubs: HERZ correlations · LND correlations
