BNL vs O: Correlation
Measured on weekly returns over the past three years, Bro (BNL) and Realty Income (O) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNL and O?
Across a 3-year window, the weekly returns of BNL and O correlate at 0.64, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 231.9 %².
Within BNL's tracked universe of 13 assets, O comes in at #7 by 3-year correlation. On 12-month performance BNL holds a 11.1-point edge, +22.4% against +11.3%.
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.
BNL vs O: side by side
| BNL (Bro) | O (Realty Income) | |
|---|---|---|
| 1-year return | +22.4% | +11.3% |
| 5-year return | +7.7% | +14.5% |
| Volatility (ann.) | 21.0% | 17.3% |
| Beta vs S&P 500 | 0.31 | 0.21 |
| Max drawdown (3Y) | -19.5% | -19.3% |
| Market cap | $4.5B | $58.5B |
| P/E (trailing) | 28.2 | 45.4 |
| Dividend yield | 5.47% | 5.20% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | BNL | O |
|---|---|---|
| 2022 | -30.8% | -7.4% |
| 2023 | +14.0% | -4.5% |
| 2024 | -1.1% | -2.1% |
| 2025 | +17.3% | +12.2% |
| 2026 | +25.3% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNL and O good diversifiers for each other?
Only partially. A correlation of 0.64 means BNL and O share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BNL and O?
The BNL/O correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is O a good diversifier for BNL?
Only partially. A correlation of 0.64 means BNL and O share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bnl-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bnl-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BNL correlations · O correlations
