MAA vs VNQ: Correlation
Measured on weekly returns over the past three years, Mid-America Apartment Communities (MAA) and Vanguard Real Estate ETF (VNQ) 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 MAA and VNQ?
Over the past 3 years, MAA and VNQ moved with a correlation of 0.70, which is strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.70 over 3. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 236.7 %².
By 3-year correlation, VNQ places #10 of the 31 assets tracked against MAA. The last year tells two different stories: VNQ led by 16.9 percentage points, -6.6% for MAA against +10.3% for VNQ. The link looks structural: the rolling one-year correlation barely moved, holding between 0.62 and 0.85.
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.
MAA vs VNQ: side by side
| MAA (Mid-America Apartment Communities) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -6.6% | +10.3% |
| 5-year return | -19.3% | +9.5% |
| Volatility (ann.) | 20.3% | 16.6% |
| Beta vs S&P 500 | 0.49 | 0.59 |
| Max drawdown (3Y) | -26.4% | -17.5% |
| Market cap | $15.3B | – |
| P/E (trailing) | 37.7 | – |
| Dividend yield | 4.63% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | Real Estate | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | MAA | VNQ |
|---|---|---|
| 2022 | -29.7% | -26.3% |
| 2023 | -11.1% | +11.9% |
| 2024 | +19.9% | +4.8% |
| 2025 | -6.4% | +3.2% |
| 2026 | -4.0% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VNQ holds MAA at a 0.8% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MAA and VNQ good diversifiers for each other?
Only partially. A correlation of 0.70 means MAA and VNQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MAA and VNQ?
The MAA/VNQ correlation stands at 0.70 on a 3-year window (1 year: 0.67, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for MAA?
Only partially. A correlation of 0.70 means MAA and VNQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/maa-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/maa-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MAA correlations · VNQ correlations
