JRS vs NRO: Correlation
Measured on weekly returns over the past three years, Nuveen Real Estate Income Fund (JRS) and Neuberger Real Estate Securities Income Fund Inc. (NRO) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRS and NRO?
Over the past 3 years, JRS and NRO moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 328.3 %².
Within JRS's tracked universe of 49 assets, NRO comes in at #7 by 3-year correlation. On 12-month performance JRS holds a 11.9-point edge, +14.4% against +2.5%.
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.
JRS vs NRO: side by side
| JRS (Nuveen Real Estate Income Fund) | NRO (Neuberger Real Estate Securities Income Fund Inc.) | |
|---|---|---|
| 1-year return | +14.4% | +2.5% |
| 5-year return | +13.5% | +2.7% |
| Volatility (ann.) | 21.1% | 18.9% |
| Beta vs S&P 500 | 0.79 | 0.70 |
| Max drawdown (3Y) | -25.3% | -24.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 8.2 |
| Dividend yield | 8.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JRS | NRO |
|---|---|---|
| 2022 | -35.6% | -35.1% |
| 2023 | +13.4% | +15.1% |
| 2024 | +19.7% | +23.8% |
| 2025 | -3.4% | +0.8% |
| 2026 | +15.2% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRS and NRO good diversifiers for each other?
No. With a correlation of 0.82, JRS and NRO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between JRS and NRO?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.82 over the last year and 0.86 over 5 years.
Is NRO a good diversifier for JRS?
No. With a correlation of 0.82, JRS and NRO move nearly in lockstep, so holding both adds very little diversification.
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/jrs-vs-nro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jrs-vs-nro/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JRS correlations · NRO correlations
