JRI vs JRS: Correlation
How closely do Nuveen Real Asset Income and Growth Fund (JRI) and Nuveen Real Estate Income Fund (JRS) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRI and JRS?
On 3 years of weekly data the JRI/JRS correlation comes out at 0.76, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 273.4 %².
JRS is one of the assets that tracks JRI most closely: it ranks #2 out of the 15 assets we track against JRI. Over the last 12 months JRS came out ahead by 9.1 percentage points (+5.3% against +14.4%).
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.
JRI vs JRS: side by side
| JRI (Nuveen Real Asset Income and Growth Fund) | JRS (Nuveen Real Estate Income Fund) | |
|---|---|---|
| 1-year return | +5.3% | +14.4% |
| 5-year return | +31.7% | +13.5% |
| Volatility (ann.) | 17.0% | 21.1% |
| Beta vs S&P 500 | 0.64 | 0.79 |
| Max drawdown (3Y) | -13.7% | -25.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 7.0 | – |
| Dividend yield | 0.00% | 8.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JRI | JRS |
|---|---|---|
| 2022 | -20.8% | -35.6% |
| 2023 | +10.1% | +13.4% |
| 2024 | +16.3% | +19.7% |
| 2025 | +26.8% | -3.4% |
| 2026 | -0.4% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRI and JRS good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JRI and JRS?
The JRI/JRS correlation stands at 0.76 on a 3-year window (1 year: 0.72, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is JRS a good diversifier for JRI?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 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/jri-vs-jrs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jri-vs-jrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JRI correlations · JRS correlations
