NRO vs RQI: Correlation
How closely do Neuberger Real Estate Securities Income Fund Inc. (NRO) and Cohen & Steers Quality Income Realty Fund Inc (RQI) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRO and RQI?
Across a 3-year window, the weekly returns of NRO and RQI correlate at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.75 over 1 year against 0.83 over 3. Stretching to 5 years gives 0.85, with an annualized covariance of 337.8 %².
In NRO's tracked universe of 17 assets, RQI sits right near the top at #1. The trailing year gives RQI the advantage: +2.5% versus +8.6%, a 6.1-point spread.
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 RQI: side by side
| NRO (Neuberger Real Estate Securities Income Fund Inc.) | RQI (Cohen & Steers Quality Income Realty Fund Inc) | |
|---|---|---|
| 1-year return | +2.5% | +8.6% |
| 5-year return | +2.7% | +16.3% |
| Volatility (ann.) | 18.9% | 21.6% |
| Beta vs S&P 500 | 0.70 | 0.77 |
| Max drawdown (3Y) | -24.8% | -21.0% |
| Market cap | $0.2B | $1.7B |
| P/E (trailing) | 8.2 | 35.2 |
| Dividend yield | 0.00% | 7.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRO | RQI |
|---|---|---|
| 2022 | -35.1% | -31.1% |
| 2023 | +15.1% | +15.7% |
| 2024 | +23.8% | +8.0% |
| 2025 | +0.8% | +2.1% |
| 2026 | +5.0% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRO and RQI good diversifiers for each other?
No: a correlation of 0.83 means NRO and RQI tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between NRO and RQI?
The NRO/RQI correlation stands at 0.83 on a 3-year window (1 year: 0.75, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is RQI a good diversifier for NRO?
No: a correlation of 0.83 means NRO and RQI tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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/nro-vs-rqi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nro-vs-rqi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRO correlations · RQI correlations
