NLOP vs SUNS: Correlation
Net Lease Office Properties (NLOP) and Sunrise Realty Trust, Inc. (SUNS) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NLOP and SUNS?
Across a 3-year window, the weekly returns of NLOP and SUNS correlate at 0.37, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.37 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 353.1 %².
In NLOP's tracked universe of 17 assets, SUNS sits right near the top at #2. The last year tells two different stories: NLOP led by 31.1 percentage points, +8.0% for NLOP against -23.1% for SUNS.
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.
NLOP vs SUNS: side by side
| NLOP (Net Lease Office Properties) | SUNS (Sunrise Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | -23.1% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 39.2% | 40.6% |
| Beta vs S&P 500 | 0.18 | 0.99 |
| Max drawdown (3Y) | -46.0% | -44.3% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | – | 7.9 |
| Dividend yield | 0.00% | 15.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NLOP | SUNS |
|---|---|---|
| 2024 | +68.9% | – |
| 2025 | +5.9% | -25.0% |
| 2026 | +8.5% | -13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NLOP and SUNS good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NLOP and SUNS?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.22 over the last year and n/a over 5 years.
Is SUNS a good diversifier for NLOP?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: NLOP correlations · SUNS correlations
