NNN vs TU: Correlation
NNN REIT, Inc. (NNN) and Telus Corporation (TU) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNN and TU?
Over the past 3 years, NNN and TU moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 153.1 %².
Among the 34 assets we track against NNN, TU ranks #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NNN ahead by 51.1 points (+13.1% versus -38.0%).
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 TU: side by side
| NNN (NNN REIT, Inc.) | TU (Telus Corporation) | |
|---|---|---|
| 1-year return | +13.1% | -38.0% |
| 5-year return | +25.1% | -44.5% |
| Volatility (ann.) | 18.8% | 20.3% |
| Beta vs S&P 500 | 0.31 | 0.21 |
| Max drawdown (3Y) | -22.0% | -40.6% |
| Market cap | $8.6B | $15.4B |
| P/E (trailing) | 22.3 | – |
| Dividend yield | 5.26% | 17.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNN | TU |
|---|---|---|
| 2022 | -0.0% | -14.3% |
| 2023 | -0.6% | -2.4% |
| 2024 | -0.1% | -18.4% |
| 2025 | +2.8% | +0.7% |
| 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 TU good diversifiers for each other?
Reasonably. At 0.40, NNN and TU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NNN and TU?
As of 2026-08-27, the correlation of weekly returns between NNN and TU is 0.40 over 3 years, 0.09 over 1 year and 0.44 over 5 years.
Is TU a good diversifier for NNN?
Reasonably. At 0.40, NNN and TU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/nnn-vs-tu.json
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Related comparisons
Hubs: NNN correlations · TU correlations
