NNN vs VZ: Correlation
How closely do NNN REIT, Inc. (NNN) and Verizon (VZ) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNN and VZ?
Over the past 3 years, NNN and VZ moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 170.7 %².
Within NNN's tracked universe of 34 assets, VZ comes in at #28 by 3-year correlation. On 12-month performance VZ holds a 6.2-point edge, +13.1% against +19.3%.
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 VZ: side by side
| NNN (NNN REIT, Inc.) | VZ (Verizon) | |
|---|---|---|
| 1-year return | +13.1% | +19.3% |
| 5-year return | +25.1% | +23.8% |
| Volatility (ann.) | 18.8% | 22.9% |
| Beta vs S&P 500 | 0.31 | 0.15 |
| Max drawdown (3Y) | -22.0% | -17.0% |
| Market cap | $8.6B | $205.4B |
| P/E (trailing) | 22.3 | 12.9 |
| Dividend yield | 5.26% | 5.57% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | NNN | VZ |
|---|---|---|
| 2022 | -0.0% | -20.0% |
| 2023 | -0.6% | +2.7% |
| 2024 | -0.1% | +13.1% |
| 2025 | +2.8% | +8.9% |
| 2026 | +19.2% | +27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNN and VZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NNN and VZ?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.29 over the last year and 0.38 over 5 years.
Is VZ a good diversifier for NNN?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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-vz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nnn-vs-vz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NNN correlations · VZ correlations
