HR vs VNQ: Correlation
Healthcare Realty Trust Incorporated (HR) and Vanguard Real Estate ETF (VNQ) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HR and VNQ?
Over the past 3 years, HR and VNQ moved with a correlation of 0.65, which is strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.65 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 234.7 %².
In HR's tracked universe of 11 assets, VNQ sits right near the top at #1. Over the last 12 months HR came out ahead by 6.3 percentage points (+16.6% against +10.3%).
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.
HR vs VNQ: side by side
| HR (Healthcare Realty Trust Incorporated) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +16.6% | +10.3% |
| 5-year return | +12.6% | +9.5% |
| Volatility (ann.) | 21.8% | 16.6% |
| Beta vs S&P 500 | 0.37 | 0.59 |
| Max drawdown (3Y) | -24.4% | -17.5% |
| Market cap | $6.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.98% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | HR | VNQ |
|---|---|---|
| 2022 | -17.5% | -26.3% |
| 2023 | -4.1% | +11.9% |
| 2024 | +6.4% | +4.8% |
| 2025 | +6.9% | +3.2% |
| 2026 | +17.2% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VNQ holds HR at a 0.36% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are HR and VNQ good diversifiers for each other?
To a limited degree. At 0.65 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 HR and VNQ?
As of 2026-08-27, the correlation of weekly returns between HR and VNQ is 0.65 over 3 years, 0.66 over 1 year and 0.58 over 5 years.
Is VNQ a good diversifier for HR?
To a limited degree. At 0.65 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 0.65 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/hr-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hr-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HR correlations · VNQ correlations
