NRO vs RMD: Correlation
Measured on weekly returns over the past three years, Neuberger Real Estate Securities Income Fund Inc. (NRO) and ResMed (RMD) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRO and RMD?
On 3 years of weekly data the NRO/RMD correlation comes out at 0.44, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.44). The 5-year figure is 0.43, and annualized covariance runs at 259.5 %².
RMD is close to the least connected end of NRO's tracked universe, ranking #13 of 17. Their recent paths diverged sharply: over the last 12 months NRO outperformed by 18.0 percentage points (+2.5% for NRO against -15.5% for RMD). Note the risk asymmetry: RMD runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NRO vs RMD: side by side
| NRO (Neuberger Real Estate Securities Income Fund Inc.) | RMD (ResMed) | |
|---|---|---|
| 1-year return | +2.5% | -15.5% |
| 5-year return | +2.7% | -14.6% |
| Volatility (ann.) | 18.9% | 31.2% |
| Beta vs S&P 500 | 0.70 | 0.79 |
| Max drawdown (3Y) | -24.8% | -37.3% |
| Market cap | $0.2B | $34.0B |
| P/E (trailing) | 8.2 | 22.6 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | NRO | RMD |
|---|---|---|
| 2022 | -35.1% | -19.5% |
| 2023 | +15.1% | -16.5% |
| 2024 | +23.8% | +34.2% |
| 2025 | +0.8% | +6.3% |
| 2026 | +5.0% | -1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRO and RMD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NRO and RMD?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.18 over the last year and 0.43 over 5 years.
Is RMD a good diversifier for NRO?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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
$ curl https://www.pairbook.io/api/v1/pairs/nro-vs-rmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nro-vs-rmd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRO correlations · RMD correlations
