PGZ vs RQI: Correlation
Measured on weekly returns over the past three years, Principal Real Estate Income Fund (PGZ) and Cohen & Steers Quality Income Realty Fund Inc (RQI) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGZ and RQI?
Over the past 3 years, PGZ and RQI moved with a correlation of 0.76, which is strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 217.4 %².
Few assets follow PGZ as closely as RQI, which ranks #3 of 13 tracked partners. Their 12-month results are close: +7.6% for PGZ against +8.6% for RQI. Note the risk asymmetry: RQI runs 1.6 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.
PGZ vs RQI: side by side
| PGZ (Principal Real Estate Income Fund) | RQI (Cohen & Steers Quality Income Realty Fund Inc) | |
|---|---|---|
| 1-year return | +7.6% | +8.6% |
| 5-year return | +14.2% | +16.3% |
| Volatility (ann.) | 13.2% | 21.6% |
| Beta vs S&P 500 | 0.42 | 0.77 |
| Max drawdown (3Y) | -10.6% | -21.0% |
| Market cap | $0.1B | $1.7B |
| P/E (trailing) | 10.2 | 35.2 |
| Dividend yield | 0.00% | 7.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PGZ | RQI |
|---|---|---|
| 2022 | -28.0% | -31.1% |
| 2023 | +4.0% | +15.7% |
| 2024 | +18.0% | +8.0% |
| 2025 | +14.5% | +2.1% |
| 2026 | +7.9% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGZ and RQI good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PGZ and RQI?
As of 2026-08-27, the correlation of weekly returns between PGZ and RQI is 0.76 over 3 years, 0.74 over 1 year and 0.71 over 5 years.
Is RQI a good diversifier for PGZ?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pgz-vs-rqi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pgz-vs-rqi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PGZ correlations · RQI correlations
