IGR vs SBAC: Correlation
Measured on weekly returns over the past three years, CBRE Global Real Estate Income Fund (IGR) and SBA Communications (SBAC) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGR and SBAC?
Over the past 3 years, IGR and SBAC moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 416.3 %².
Within IGR's tracked universe of 24 assets, SBAC comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IGR ahead by 15.7 points (+7.8% versus -7.9%).
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.
IGR vs SBAC: side by side
| IGR (CBRE Global Real Estate Income Fund) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +7.8% | -7.9% |
| 5-year return | -4.7% | -43.3% |
| Volatility (ann.) | 26.5% | 30.1% |
| Beta vs S&P 500 | 0.81 | 0.42 |
| Max drawdown (3Y) | -29.5% | -32.2% |
| Market cap | $0.7B | $19.8B |
| P/E (trailing) | 15.4 | 20.0 |
| Dividend yield | 7.73% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | IGR | SBAC |
|---|---|---|
| 2022 | -35.5% | -27.3% |
| 2023 | +8.6% | -8.2% |
| 2024 | +1.2% | -18.2% |
| 2025 | +5.2% | -3.1% |
| 2026 | +16.8% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGR and SBAC good diversifiers for each other?
Only partially. A correlation of 0.52 means IGR and SBAC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IGR and SBAC?
As of 2026-08-27, the correlation of weekly returns between IGR and SBAC is 0.52 over 3 years, 0.52 over 1 year and 0.58 over 5 years.
Is SBAC a good diversifier for IGR?
Only partially. A correlation of 0.52 means IGR and SBAC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/igr-vs-sbac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/igr-vs-sbac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IGR correlations · SBAC correlations
