VNQ vs XRN: Correlation
Vanguard Real Estate ETF (VNQ) and Chiron Real Estate Inc. (XRN) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VNQ and XRN?
Across a 3-year window, the weekly returns of VNQ and XRN correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 310.8 %².
Within VNQ's tracked universe of 149 assets, XRN comes in at #75 by 3-year correlation. Neither side won the trailing year by much: +10.3% against +5.9%. One caveat on sizing: XRN is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 XRN: side by side
| VNQ (Vanguard Real Estate ETF) | XRN (Chiron Real Estate Inc.) | |
|---|---|---|
| 1-year return | +10.3% | +5.9% |
| 5-year return | +9.5% | -27.0% |
| Volatility (ann.) | 16.6% | 29.5% |
| Beta vs S&P 500 | 0.59 | 0.62 |
| Max drawdown (3Y) | -17.5% | -39.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | 3.51% | 6.11% |
| Expense ratio | 0.13% | – |
| Assets under management | $73.1B | – |
| Sector / category | ETF · Real Estate | US Listed |
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 | VNQ | XRN |
|---|---|---|
| 2022 | -26.3% | -42.4% |
| 2023 | +11.9% | +27.9% |
| 2024 | +4.8% | -23.6% |
| 2025 | +3.2% | -4.1% |
| 2026 | +12.5% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VNQ and XRN good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between VNQ and XRN?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.58 over the last year and 0.72 over 5 years.
Is XRN a good diversifier for VNQ?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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-xrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vnq-vs-xrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VNQ correlations · XRN correlations
