JBGS vs VNO: Correlation
Measured on weekly returns over the past three years, JBG SMITH Properties (JBGS) and Vornado Realty Trust (VNO) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBGS and VNO?
Across a 3-year window, the weekly returns of JBGS and VNO correlate at 0.69, strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.69 over 3 years. Stretching to 5 years gives 0.72, with an annualized covariance of 903.5 %².
VNO is one of the assets that tracks JBGS most closely: it ranks #1 out of the 10 assets we track against JBGS. The last year tells two different stories: VNO led by 45.5 percentage points, -40.4% for JBGS against +5.1% for VNO.
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.
JBGS vs VNO: side by side
| JBGS (JBG SMITH Properties) | VNO (Vornado Realty Trust) | |
|---|---|---|
| 1-year return | -40.4% | +5.1% |
| 5-year return | -49.3% | +8.4% |
| Volatility (ann.) | 33.7% | 39.1% |
| Beta vs S&P 500 | 0.68 | 1.34 |
| Max drawdown (3Y) | -52.2% | -43.9% |
| Market cap | $0.9B | $7.7B |
| P/E (trailing) | – | 1290.7 |
| Dividend yield | 5.67% | 1.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBGS | VNO |
|---|---|---|
| 2022 | -31.0% | -46.7% |
| 2023 | -6.1% | +39.5% |
| 2024 | -4.5% | +51.3% |
| 2025 | +15.2% | -19.1% |
| 2026 | -26.9% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBGS and VNO good diversifiers for each other?
To a limited degree. At 0.69 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 JBGS and VNO?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.53 over the last year and 0.72 over 5 years.
Is VNO a good diversifier for JBGS?
To a limited degree. At 0.69 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 0.69 mean?
On the −1 to +1 scale, 0.69 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/jbgs-vs-vno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jbgs-vs-vno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JBGS correlations · VNO correlations
