JRI vs NRO: Correlation
Measured on weekly returns over the past three years, Nuveen Real Asset Income and Growth Fund (JRI) and Neuberger Real Estate Securities Income Fund Inc. (NRO) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRI and NRO?
Over the past 3 years, JRI and NRO moved with a correlation of 0.79, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 253.2 %².
Few assets follow JRI as closely as NRO, which ranks #1 of 15 tracked partners. Twelve-month performance is nearly a tie, at +5.3% for JRI and +2.5% for NRO.
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 NRO: side by side
| JRI (Nuveen Real Asset Income and Growth Fund) | NRO (Neuberger Real Estate Securities Income Fund Inc.) | |
|---|---|---|
| 1-year return | +5.3% | +2.5% |
| 5-year return | +31.7% | +2.7% |
| Volatility (ann.) | 17.0% | 18.9% |
| Beta vs S&P 500 | 0.64 | 0.70 |
| Max drawdown (3Y) | -13.7% | -24.8% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 7.0 | 8.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JRI | NRO |
|---|---|---|
| 2022 | -20.8% | -35.1% |
| 2023 | +10.1% | +15.1% |
| 2024 | +16.3% | +23.8% |
| 2025 | +26.8% | +0.8% |
| 2026 | -0.4% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRI and NRO good diversifiers for each other?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JRI and NRO?
As of 2026-08-27, the correlation of weekly returns between JRI and NRO is 0.79 over 3 years, 0.75 over 1 year and 0.83 over 5 years.
Is NRO a good diversifier for JRI?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.79 mean?
On the −1 to +1 scale, 0.79 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/jri-vs-nro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jri-vs-nro/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JRI correlations · NRO correlations
