RFI vs SBAC: Correlation
Cohen & Steers Total Return Realty Fund, Inc. (RFI) and SBA Communications (SBAC) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RFI and SBAC?
On 3 years of weekly data the RFI/SBAC correlation comes out at 0.61, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 333.6 %².
Within RFI's tracked universe of 39 assets, SBAC comes in at #19 by 3-year correlation. The trailing year gives RFI the advantage: +3.7% versus -7.9%, a 11.6-point spread. Note the risk asymmetry: SBAC runs 1.7 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.
RFI vs SBAC: side by side
| RFI (Cohen & Steers Total Return Realty Fund, Inc.) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +3.7% | -7.9% |
| 5-year return | +5.1% | -43.3% |
| Volatility (ann.) | 18.1% | 30.1% |
| Beta vs S&P 500 | 0.57 | 0.42 |
| Max drawdown (3Y) | -16.2% | -32.2% |
| Market cap | – | $19.8B |
| P/E (trailing) | 27.1 | 20.0 |
| Dividend yield | 8.41% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | RFI | SBAC |
|---|---|---|
| 2022 | -22.1% | -27.3% |
| 2023 | +4.4% | -8.2% |
| 2024 | +6.6% | -18.2% |
| 2025 | +3.6% | -3.1% |
| 2026 | +8.9% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RFI and SBAC good diversifiers for each other?
To a limited degree. At 0.61 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 RFI and SBAC?
The RFI/SBAC correlation stands at 0.61 on a 3-year window (1 year: 0.62, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is SBAC a good diversifier for RFI?
To a limited degree. At 0.61 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 0.61 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/rfi-vs-sbac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rfi-vs-sbac/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RFI correlations · SBAC correlations
