STHO vs VNQ: Correlation
How closely do Star Holdings - Shares of Beneficial Interest (STHO) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STHO and VNQ?
Over the past 3 years, STHO and VNQ moved with a correlation of 0.66, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.66 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 387.0 %².
Among the 15 assets we track against STHO, VNQ ranks #4 by 3-year correlation. On 12-month performance STHO holds a 6.4-point edge, +16.7% against +10.3%. Note the risk asymmetry: STHO runs 2.1 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.
STHO vs VNQ: side by side
| STHO (Star Holdings - Shares of Beneficial Interest) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +16.7% | +10.3% |
| 5-year return | n/a | +9.5% |
| Volatility (ann.) | 35.5% | 16.6% |
| Beta vs S&P 500 | 0.88 | 0.59 |
| Max drawdown (3Y) | -59.4% | -17.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 0.00% | 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 | STHO | VNQ |
|---|---|---|
| 2022 | – | -26.3% |
| 2023 | – | +11.9% |
| 2024 | -35.0% | +4.8% |
| 2025 | -15.4% | +3.2% |
| 2026 | +19.9% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STHO and VNQ good diversifiers for each other?
To a limited degree. At 0.66 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 STHO and VNQ?
The STHO/VNQ correlation stands at 0.66 on a 3-year window (1 year: 0.69, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for STHO?
To a limited degree. At 0.66 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 0.66 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/stho-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/stho-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: STHO correlations · VNQ correlations
