UCIB vs WHLR: Correlation
ETRACS UBS Bloomberg Constant Maturity Commodity Index (UCIB) and Wheeler Real Estate Investment Trust, Inc. (WHLR) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UCIB and WHLR?
On 3 years of weekly data the UCIB/WHLR correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.14 versus -0.22 over 3 years. The 5-year figure is -0.15, and annualized covariance runs at -2088.0 %².
WHLR is close to the least connected end of UCIB's tracked universe, ranking #9 of 11. The last year tells two different stories: UCIB led by 138.5 percentage points, +38.5% for UCIB against -100.0% for WHLR. Risk is not evenly split, since WHLR carries 30.8 times the volatility of the other side.
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.
UCIB vs WHLR: side by side
| UCIB (ETRACS UBS Bloomberg Constant Maturity Commodity Index) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +38.5% | -100.0% |
| 5-year return | +88.1% | -100.0% |
| Volatility (ann.) | 17.7% | 545.0% |
| Beta vs S&P 500 | 0.28 | -5.84 |
| Max drawdown (3Y) | -22.7% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UCIB | WHLR |
|---|---|---|
| 2022 | +18.2% | -28.0% |
| 2023 | -2.3% | -98.4% |
| 2024 | +6.6% | -98.4% |
| 2025 | +9.0% | -100.0% |
| 2026 | +32.0% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UCIB and WHLR good diversifiers for each other?
Yes. With a correlation of -0.22, UCIB and WHLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between UCIB and WHLR?
As of 2026-08-27, the correlation of weekly returns between UCIB and WHLR is -0.22 over 3 years, 0.14 over 1 year and -0.15 over 5 years.
Is WHLR a good diversifier for UCIB?
Yes. With a correlation of -0.22, UCIB and WHLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: UCIB correlations · WHLR correlations
