FCPT vs O: Correlation
How closely do Four Corners Property Trust, Inc. (FCPT) and Realty Income (O) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCPT and O?
Over the past 3 years, FCPT and O moved with a correlation of 0.68, which is strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.68). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 204.1 %².
Among the 17 assets we track against FCPT, O ranks #8 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.
FCPT vs O: side by side
| FCPT (Four Corners Property Trust, Inc.) | O (Realty Income) | |
|---|---|---|
| 1-year return | +3.8% | +11.3% |
| 5-year return | +16.6% | +14.5% |
| Volatility (ann.) | 17.5% | 17.3% |
| Beta vs S&P 500 | 0.32 | 0.21 |
| Max drawdown (3Y) | -20.2% | -19.3% |
| Market cap | $2.8B | $58.5B |
| P/E (trailing) | 22.9 | 45.4 |
| Dividend yield | 5.75% | 5.20% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | FCPT | O |
|---|---|---|
| 2022 | -7.2% | -7.4% |
| 2023 | +3.1% | -4.5% |
| 2024 | +13.1% | -2.1% |
| 2025 | -10.1% | +12.2% |
| 2026 | +13.1% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCPT and O good diversifiers for each other?
To a limited degree. At 0.68 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 FCPT and O?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.57 over the last year and 0.72 over 5 years.
Is O a good diversifier for FCPT?
To a limited degree. At 0.68 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 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcpt-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcpt-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCPT correlations · O correlations
