NAII vs WHLR: Correlation
Natural Alternatives International, Inc. (NAII) and Wheeler Real Estate Investment Trust, Inc. (WHLR) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAII and WHLR?
Over the past 3 years, NAII and WHLR moved with a correlation of 0.31, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.13 versus 0.31 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 8203.5 %².
Few assets follow NAII as closely as WHLR, which ranks #1 of 14 tracked partners. The last year tells two different stories: NAII led by 64.0 percentage points, -36.0% for NAII against -100.0% for WHLR. Risk is not evenly split, since WHLR carries 11.1 times the volatility of the other side.
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.
NAII vs WHLR: side by side
| NAII (Natural Alternatives International, Inc.) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | -36.0% | -100.0% |
| 5-year return | -85.1% | -100.0% |
| Volatility (ann.) | 49.2% | 545.0% |
| Beta vs S&P 500 | 0.09 | -5.84 |
| Max drawdown (3Y) | -71.7% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAII | WHLR |
|---|---|---|
| 2022 | -33.7% | -28.0% |
| 2023 | -22.2% | -98.4% |
| 2024 | -34.0% | -98.4% |
| 2025 | -16.9% | -100.0% |
| 2026 | -36.0% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAII and WHLR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NAII and WHLR?
The NAII/WHLR correlation stands at 0.31 on a 3-year window (1 year: 0.13, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is WHLR a good diversifier for NAII?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
A reading of 0.31 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/naii-vs-whlr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/naii-vs-whlr/)
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Related comparisons
Hubs: NAII correlations · WHLR correlations
