RQI vs SBAC: Correlation
How closely do Cohen & Steers Quality Income Realty Fund Inc (RQI) and SBA Communications (SBAC) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RQI and SBAC?
Across a 3-year window, the weekly returns of RQI and SBAC correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 389.1 %².
Within RQI's tracked universe of 48 assets, SBAC comes in at #31 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RQI outperformed by 16.5 percentage points (+8.6% for RQI against -7.9% for SBAC).
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.
RQI vs SBAC: side by side
| RQI (Cohen & Steers Quality Income Realty Fund Inc) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +8.6% | -7.9% |
| 5-year return | +16.3% | -43.3% |
| Volatility (ann.) | 21.6% | 30.1% |
| Beta vs S&P 500 | 0.77 | 0.42 |
| Max drawdown (3Y) | -21.0% | -32.2% |
| Market cap | $1.7B | $19.8B |
| P/E (trailing) | 35.2 | 20.0 |
| Dividend yield | 7.74% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | RQI | SBAC |
|---|---|---|
| 2022 | -31.1% | -27.3% |
| 2023 | +15.7% | -8.2% |
| 2024 | +8.0% | -18.2% |
| 2025 | +2.1% | -3.1% |
| 2026 | +14.3% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RQI and SBAC good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RQI and SBAC?
The RQI/SBAC correlation stands at 0.60 on a 3-year window (1 year: 0.61, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is SBAC a good diversifier for RQI?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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.
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Hubs: RQI correlations · SBAC correlations
