JRS vs PSA: Correlation
Measured on weekly returns over the past three years, Nuveen Real Estate Income Fund (JRS) and Public Storage (PSA) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRS and PSA?
Over the past 3 years, JRS and PSA moved with a correlation of 0.70, which is strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.70 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 339.0 %².
Among the 49 assets we track against JRS, PSA ranks #19 by 3-year correlation. Their 12-month results are close: +14.4% for JRS against +11.3% for PSA.
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 PSA: side by side
| JRS (Nuveen Real Estate Income Fund) | PSA (Public Storage) | |
|---|---|---|
| 1-year return | +14.4% | +11.3% |
| 5-year return | +13.5% | +20.9% |
| Volatility (ann.) | 21.1% | 23.0% |
| Beta vs S&P 500 | 0.79 | 0.59 |
| Max drawdown (3Y) | -25.3% | -25.6% |
| Market cap | – | $58.1B |
| P/E (trailing) | – | 30.3 |
| Dividend yield | 8.00% | 3.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | JRS | PSA |
|---|---|---|
| 2022 | -35.6% | -20.2% |
| 2023 | +13.4% | +13.6% |
| 2024 | +19.7% | +2.1% |
| 2025 | -3.4% | -9.7% |
| 2026 | +15.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRS and PSA good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JRS and PSA?
The JRS/PSA correlation stands at 0.70 on a 3-year window (1 year: 0.65, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is PSA a good diversifier for JRS?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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.
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Related comparisons
Hubs: JRS correlations · PSA correlations
