NNN vs PSA: Correlation
How closely do NNN REIT, Inc. (NNN) and Public Storage (PSA) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNN and PSA?
Across a 3-year window, the weekly returns of NNN and PSA correlate at 0.65, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.65 over 3. Stretching to 5 years gives 0.61, with an annualized covariance of 279.9 %².
Within NNN's tracked universe of 34 assets, PSA comes in at #12 by 3-year correlation. Neither side won the trailing year by much: +13.1% against +11.3%.
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.
NNN vs PSA: side by side
| NNN (NNN REIT, Inc.) | PSA (Public Storage) | |
|---|---|---|
| 1-year return | +13.1% | +11.3% |
| 5-year return | +25.1% | +20.9% |
| Volatility (ann.) | 18.8% | 23.0% |
| Beta vs S&P 500 | 0.31 | 0.59 |
| Max drawdown (3Y) | -22.0% | -25.6% |
| Market cap | $8.6B | $58.1B |
| P/E (trailing) | 22.3 | 30.3 |
| Dividend yield | 5.26% | 3.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | NNN | PSA |
|---|---|---|
| 2022 | -0.0% | -20.2% |
| 2023 | -0.6% | +13.6% |
| 2024 | -0.1% | +2.1% |
| 2025 | +2.8% | -9.7% |
| 2026 | +19.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNN and PSA good diversifiers for each other?
Only partially. A correlation of 0.65 means NNN and PSA 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 NNN and PSA?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.71 over the last year and 0.61 over 5 years.
Is PSA a good diversifier for NNN?
Only partially. A correlation of 0.65 means NNN and PSA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
A reading of 0.65 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/nnn-vs-psa.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nnn-vs-psa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NNN correlations · PSA correlations
