NNN vs WPC: Correlation
Measured on weekly returns over the past three years, NNN REIT, Inc. (NNN) and W. P. Carey Inc. REIT (WPC) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNN and WPC?
Over the past 3 years, NNN and WPC moved with a correlation of 0.75, which is strong. The relationship has been stable: the 1-year correlation (0.84) sits close to the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 294.0 %².
By 3-year correlation, WPC places #6 of the 34 assets tracked against NNN. Twelve-month performance is nearly a tie, at +13.1% for NNN and +11.2% for WPC.
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 WPC: side by side
| NNN (NNN REIT, Inc.) | WPC (W. P. Carey Inc. REIT) | |
|---|---|---|
| 1-year return | +13.1% | +11.2% |
| 5-year return | +25.1% | +23.0% |
| Volatility (ann.) | 18.8% | 20.9% |
| Beta vs S&P 500 | 0.31 | 0.30 |
| Max drawdown (3Y) | -22.0% | -19.6% |
| Market cap | $8.6B | $16.0B |
| P/E (trailing) | 22.3 | 24.4 |
| Dividend yield | 5.26% | 5.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNN | WPC |
|---|---|---|
| 2022 | -0.0% | +0.5% |
| 2023 | -0.6% | -9.9% |
| 2024 | -0.1% | -10.6% |
| 2025 | +2.8% | +25.0% |
| 2026 | +19.2% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNN and WPC good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NNN and WPC?
As of 2026-08-27, the correlation of weekly returns between NNN and WPC is 0.75 over 3 years, 0.84 over 1 year and 0.75 over 5 years.
Is WPC a good diversifier for NNN?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
A reading of 0.75 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-wpc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nnn-vs-wpc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NNN correlations · WPC correlations
