RQI vs VNQ: Correlation
Measured on weekly returns over the past three years, Cohen & Steers Quality Income Realty Fund Inc (RQI) and Vanguard Real Estate ETF (VNQ) carry a correlation of 0.89, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RQI and VNQ?
On 3 years of weekly data the RQI/VNQ correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. The 5-year figure is 0.90, and annualized covariance runs at 319.6 %².
In RQI's tracked universe of 48 assets, VNQ sits right near the top at #2. Twelve-month performance is nearly a tie, at +8.6% for RQI and +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.
RQI vs VNQ: side by side
| RQI (Cohen & Steers Quality Income Realty Fund Inc) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +8.6% | +10.3% |
| 5-year return | +16.3% | +9.5% |
| Volatility (ann.) | 21.6% | 16.6% |
| Beta vs S&P 500 | 0.77 | 0.59 |
| Max drawdown (3Y) | -21.0% | -17.5% |
| Market cap | $1.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 7.74% | 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 | RQI | VNQ |
|---|---|---|
| 2022 | -31.1% | -26.3% |
| 2023 | +15.7% | +11.9% |
| 2024 | +8.0% | +4.8% |
| 2025 | +2.1% | +3.2% |
| 2026 | +14.3% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RQI and VNQ good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between RQI and VNQ?
As of 2026-08-27, the correlation of weekly returns between RQI and VNQ is 0.89 over 3 years, 0.82 over 1 year and 0.90 over 5 years.
Is VNQ a good diversifier for RQI?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 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/rqi-vs-vnq.json
Markdown for the live badge, attribution link included:
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Related comparisons
Hubs: RQI correlations · VNQ correlations
