PAPL vs VNQ: Correlation
Measured on weekly returns over the past three years, Pineapple Financial Inc. (PAPL) and Vanguard Real Estate ETF (VNQ) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAPL and VNQ?
Over the past 3 years, PAPL and VNQ moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -449.5 %².
Among the 51 assets we track against PAPL, VNQ ranks #16 by 3-year correlation. The last year tells two different stories: VNQ led by 81.0 percentage points, -70.7% for PAPL against +10.3% for VNQ. One caveat on sizing: PAPL is 10.9 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.
PAPL vs VNQ: side by side
| PAPL (Pineapple Financial Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | -70.7% | +10.3% |
| 5-year return | n/a | +9.5% |
| Volatility (ann.) | 181.2% | 16.6% |
| Beta vs S&P 500 | -0.73 | 0.59 |
| Max drawdown (3Y) | -99.4% | -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 | PAPL | VNQ |
|---|---|---|
| 2022 | – | -26.3% |
| 2023 | – | +11.9% |
| 2024 | -74.7% | +4.8% |
| 2025 | -84.4% | +3.2% |
| 2026 | -25.5% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAPL and VNQ good diversifiers for each other?
Yes. With a correlation of -0.16, PAPL and VNQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PAPL and VNQ?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.15 over the last year and n/a over 5 years.
Is VNQ a good diversifier for PAPL?
Yes. With a correlation of -0.16, PAPL and VNQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/papl-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/papl-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAPL correlations · VNQ correlations
