NVNI vs VNQ: Correlation
Nvni Group Limited (NVNI) and Vanguard Real Estate ETF (VNQ) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVNI and VNQ?
Over the past 3 years, NVNI and VNQ moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.02) runs above the 3-year figure (-0.16). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -2483.9 %².
Within NVNI's tracked universe of 60 assets, VNQ comes in at #24 by 3-year correlation. The last year tells two different stories: VNQ led by 93.3 percentage points, -83.0% for NVNI against +10.3% for VNQ. One caveat on sizing: NVNI is 57.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NVNI vs VNQ: side by side
| NVNI (Nvni Group Limited) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -83.0% | +10.3% |
| 5-year return | -98.9% | +9.5% |
| Volatility (ann.) | 949.3% | 16.6% |
| Beta vs S&P 500 | -4.03 | 0.59 |
| Max drawdown (3Y) | -99.3% | -17.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | NVNI | VNQ |
|---|---|---|
| 2022 | +4.4% | -26.3% |
| 2023 | -85.4% | +11.9% |
| 2024 | +64.4% | +4.8% |
| 2025 | -89.2% | +3.2% |
| 2026 | -60.8% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVNI and VNQ good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NVNI and VNQ?
The NVNI/VNQ correlation stands at -0.16 on a 3-year window (1 year: 0.02, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for NVNI?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/nvni-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvni-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVNI correlations · VNQ correlations
