IGR vs VNQ: Correlation
CBRE Global Real Estate Income Fund (IGR) and Vanguard Real Estate ETF (VNQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGR and VNQ?
Across a 3-year window, the weekly returns of IGR and VNQ correlate at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 360.2 %².
Within IGR's tracked universe of 24 assets, VNQ comes in at #4 by 3-year correlation. Their 12-month results are close: +7.8% for IGR against +10.3% for VNQ. Risk is not evenly split, since IGR carries 1.6 times the volatility of the other side.
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 VNQ: side by side
| IGR (CBRE Global Real Estate Income Fund) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +7.8% | +10.3% |
| 5-year return | -4.7% | +9.5% |
| Volatility (ann.) | 26.5% | 16.6% |
| Beta vs S&P 500 | 0.81 | 0.59 |
| Max drawdown (3Y) | -29.5% | -17.5% |
| Market cap | $0.7B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 7.73% | 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 | IGR | VNQ |
|---|---|---|
| 2022 | -35.5% | -26.3% |
| 2023 | +8.6% | +11.9% |
| 2024 | +1.2% | +4.8% |
| 2025 | +5.2% | +3.2% |
| 2026 | +16.8% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGR and VNQ good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between IGR and VNQ?
The IGR/VNQ correlation stands at 0.82 on a 3-year window (1 year: 0.77, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for IGR?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/igr-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IGR correlations · VNQ correlations
