VNQ vs WELL: Correlation
Vanguard Real Estate ETF (VNQ) and Welltower (WELL) 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 VNQ and WELL?
Over the past 3 years, VNQ and WELL moved with a correlation of 0.61, which is strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.61 over 3. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 212.4 %².
Among the 149 assets we track against VNQ, WELL ranks #84 by 3-year correlation. The last year tells two different stories: WELL led by 34.6 percentage points, +10.3% for VNQ against +44.9% for WELL. The rolling one-year correlation moved between 0.43 and 0.82 over the past three years, a moderate range.
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.
VNQ vs WELL: side by side
| VNQ (Vanguard Real Estate ETF) | WELL (Welltower) | |
|---|---|---|
| 1-year return | +10.3% | +44.9% |
| 5-year return | +9.5% | +214.9% |
| Volatility (ann.) | 16.6% | 21.2% |
| Beta vs S&P 500 | 0.59 | 0.30 |
| Max drawdown (3Y) | -17.5% | -13.0% |
| Market cap | – | $172.6B |
| P/E (trailing) | – | 108.9 |
| Dividend yield | 3.51% | 1.27% |
| Expense ratio | 0.13% | – |
| Assets under management | $73.1B | – |
| Sector / category | ETF · Real Estate | Real Estate |
On the fund side, VNQ sits in the Real Estate category at Vanguard, with $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | VNQ | WELL |
|---|---|---|
| 2022 | -26.3% | -21.2% |
| 2023 | +11.9% | +41.8% |
| 2024 | +4.8% | +43.1% |
| 2025 | +3.2% | +49.9% |
| 2026 | +12.5% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 8.54% of VNQ is WELL itself, so the fund partly moves with the stock by construction.
Are VNQ and WELL good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between VNQ and WELL?
As of 2026-08-27, the correlation of weekly returns between VNQ and WELL is 0.61 over 3 years, 0.67 over 1 year and 0.67 over 5 years.
Is WELL a good diversifier for VNQ?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vnq-vs-well.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vnq-vs-well/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VNQ correlations · WELL correlations
