CUBE vs O: Correlation
How closely do CubeSmart (CUBE) and Realty Income (O) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and O?
Over the past 3 years, CUBE and O moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 254.5 %².
Within CUBE's tracked universe of 24 assets, O comes in at #10 by 3-year correlation. On 12-month performance O holds a 7.5-point edge, +3.8% 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.
CUBE vs O: side by side
| CUBE (CubeSmart) | O (Realty Income) | |
|---|---|---|
| 1-year return | +3.8% | +11.3% |
| 5-year return | -6.2% | +14.5% |
| Volatility (ann.) | 23.0% | 17.3% |
| Beta vs S&P 500 | 0.63 | 0.21 |
| Max drawdown (3Y) | -32.0% | -19.3% |
| Market cap | $9.0B | $58.5B |
| P/E (trailing) | 27.6 | 45.4 |
| Dividend yield | 5.22% | 5.20% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CUBE | O |
|---|---|---|
| 2022 | -26.3% | -7.4% |
| 2023 | +20.5% | -4.5% |
| 2024 | -4.5% | -2.1% |
| 2025 | -11.6% | +12.2% |
| 2026 | +15.7% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBE and O good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CUBE and O?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.72 over the last year and 0.63 over 5 years.
Is O a good diversifier for CUBE?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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/cube-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cube-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CUBE correlations · O correlations
