JRS vs SPG: Correlation
Measured on weekly returns over the past three years, Nuveen Real Estate Income Fund (JRS) and Simon Property Group (SPG) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRS and SPG?
On 3 years of weekly data the JRS/SPG correlation comes out at 0.74, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 352.9 %².
By 3-year correlation, SPG places #14 of the 49 assets tracked against JRS. The trailing year gives SPG the advantage: +14.4% versus +26.3%, a 11.9-point spread.
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 SPG: side by side
| JRS (Nuveen Real Estate Income Fund) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | +14.4% | +26.3% |
| 5-year return | +13.5% | +110.2% |
| Volatility (ann.) | 21.1% | 22.7% |
| Beta vs S&P 500 | 0.79 | 0.79 |
| Max drawdown (3Y) | -25.3% | -24.3% |
| Market cap | – | $81.6B |
| P/E (trailing) | – | 15.2 |
| Dividend yield | 8.00% | 4.05% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | JRS | SPG |
|---|---|---|
| 2022 | -35.6% | -21.9% |
| 2023 | +13.4% | +29.2% |
| 2024 | +19.7% | +26.9% |
| 2025 | -3.4% | +12.9% |
| 2026 | +15.2% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRS and SPG good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JRS and SPG?
The JRS/SPG correlation stands at 0.74 on a 3-year window (1 year: 0.71, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is SPG a good diversifier for JRS?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
A reading of 0.74 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jrs-vs-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jrs-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JRS correlations · SPG correlations
