PGZ vs RFI: Correlation
Principal Real Estate Income Fund (PGZ) and Cohen & Steers Total Return Realty Fund, Inc. (RFI) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGZ and RFI?
Over the past 3 years, PGZ and RFI moved with a correlation of 0.77, which is strong. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 184.1 %².
In PGZ's tracked universe of 13 assets, RFI sits right near the top at #1. Neither side won the trailing year by much: +7.6% against +3.7%.
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.
PGZ vs RFI: side by side
| PGZ (Principal Real Estate Income Fund) | RFI (Cohen & Steers Total Return Realty Fund, Inc.) | |
|---|---|---|
| 1-year return | +7.6% | +3.7% |
| 5-year return | +14.2% | +5.1% |
| Volatility (ann.) | 13.2% | 18.1% |
| Beta vs S&P 500 | 0.42 | 0.57 |
| Max drawdown (3Y) | -10.6% | -16.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | 10.2 | 27.1 |
| Dividend yield | 0.00% | 8.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PGZ | RFI |
|---|---|---|
| 2022 | -28.0% | -22.1% |
| 2023 | +4.0% | +4.4% |
| 2024 | +18.0% | +6.6% |
| 2025 | +14.5% | +3.6% |
| 2026 | +7.9% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGZ and RFI good diversifiers for each other?
Only partially. A correlation of 0.77 means PGZ and RFI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PGZ and RFI?
The PGZ/RFI correlation stands at 0.77 on a 3-year window (1 year: 0.82, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is RFI a good diversifier for PGZ?
Only partially. A correlation of 0.77 means PGZ and RFI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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/pgz-vs-rfi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pgz-vs-rfi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PGZ correlations · RFI correlations
