CL vs O: Correlation
Colgate-Palmolive (CL) and Realty Income (O) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CL and O?
Across a 3-year window, the weekly returns of CL and O correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 139.0 %².
Within CL's tracked universe of 40 assets, O comes in at #15 by 3-year correlation. Neither side won the trailing year by much: +10.4% against +11.3%. Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.65.
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.
CL vs O: side by side
| CL (Colgate-Palmolive) | O (Realty Income) | |
|---|---|---|
| 1-year return | +10.4% | +11.3% |
| 5-year return | +32.0% | +14.5% |
| Volatility (ann.) | 16.9% | 17.3% |
| Beta vs S&P 500 | 0.17 | 0.21 |
| Max drawdown (3Y) | -29.0% | -19.3% |
| Market cap | $72.5B | $58.5B |
| P/E (trailing) | 36.2 | 45.4 |
| Dividend yield | 2.27% | 5.20% |
| Sector / category | Consumer Staples | Real Estate |
Year-by-year returns
| Year | CL | O |
|---|---|---|
| 2022 | -5.4% | -7.4% |
| 2023 | +3.8% | -4.5% |
| 2024 | +16.6% | -2.1% |
| 2025 | -11.0% | +12.2% |
| 2026 | +17.2% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CL and O good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CL and O?
As of 2026-08-27, the correlation of weekly returns between CL and O is 0.48 over 3 years, 0.43 over 1 year and 0.47 over 5 years.
Is O a good diversifier for CL?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/cl-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cl-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CL correlations · O correlations
