REG vs VNQ: Correlation
Measured on weekly returns over the past three years, Regency Centers (REG) and Vanguard Real Estate ETF (VNQ) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REG and VNQ?
On 3 years of weekly data the REG/VNQ correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 234.9 %².
In REG's tracked universe of 41 assets, VNQ sits right near the top at #3. Twelve-month performance is nearly a tie, at +8.4% for REG and +10.3% for VNQ. The link looks structural: the rolling one-year correlation barely moved, holding between 0.70 and 0.85.
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.
REG vs VNQ: side by side
| REG (Regency Centers) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +8.4% | +10.3% |
| 5-year return | +35.2% | +9.5% |
| Volatility (ann.) | 17.8% | 16.6% |
| Beta vs S&P 500 | 0.34 | 0.59 |
| Max drawdown (3Y) | -15.1% | -17.5% |
| Market cap | $14.1B | – |
| P/E (trailing) | 25.5 | – |
| Dividend yield | 3.89% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | Real Estate | 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 | REG | VNQ |
|---|---|---|
| 2022 | -13.6% | -26.3% |
| 2023 | +11.9% | +11.9% |
| 2024 | +14.9% | +4.8% |
| 2025 | -2.8% | +3.2% |
| 2026 | +11.4% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.69% of VNQ is REG itself, so the fund partly moves with the stock by construction.
Are REG and VNQ good diversifiers for each other?
No. With a correlation of 0.80, REG and VNQ move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between REG and VNQ?
As of 2026-08-27, the correlation of weekly returns between REG and VNQ is 0.80 over 3 years, 0.79 over 1 year and 0.79 over 5 years.
Is VNQ a good diversifier for REG?
No. With a correlation of 0.80, REG and VNQ move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
A reading of 0.80 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/reg-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/reg-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: REG correlations · VNQ correlations
