PINE vs VNQ: Correlation
Alpine Income Property Trust, Inc. (PINE) and Vanguard Real Estate ETF (VNQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PINE and VNQ?
Across a 3-year window, the weekly returns of PINE and VNQ correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 226.4 %².
Within PINE's tracked universe of 11 assets, VNQ comes in at #5 by 3-year correlation. The last year tells two different stories: PINE led by 27.6 percentage points, +37.9% for PINE against +10.3% for VNQ.
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.
PINE vs VNQ: side by side
| PINE (Alpine Income Property Trust, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +37.9% | +10.3% |
| 5-year return | +43.8% | +9.5% |
| Volatility (ann.) | 23.9% | 16.6% |
| Beta vs S&P 500 | 0.19 | 0.59 |
| Max drawdown (3Y) | -24.8% | -17.5% |
| Market cap | $0.4B | – |
| P/E (trailing) | 93.5 | – |
| Dividend yield | 5.94% | 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 | PINE | VNQ |
|---|---|---|
| 2022 | +0.9% | -26.3% |
| 2023 | -5.5% | +11.9% |
| 2024 | +6.1% | +4.8% |
| 2025 | +7.0% | +3.2% |
| 2026 | +21.1% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PINE and VNQ good diversifiers for each other?
To a limited degree. At 0.57 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 PINE and VNQ?
As of 2026-08-27, the correlation of weekly returns between PINE and VNQ is 0.57 over 3 years, 0.50 over 1 year and 0.61 over 5 years.
Is VNQ a good diversifier for PINE?
To a limited degree. At 0.57 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 0.57 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/pine-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pine-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PINE correlations · VNQ correlations
