GTY vs O: Correlation
Getty Realty Corporation (GTY) and Realty Income (O) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTY and O?
Across a 3-year window, the weekly returns of GTY and O correlate at 0.65, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.65 over 3. Stretching to 5 years gives 0.68, with an annualized covariance of 211.4 %².
Among the 19 assets we track against GTY, O ranks #6 by 3-year correlation. Over the last 12 months GTY came out ahead by 11.9 percentage points (+23.2% 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.
GTY vs O: side by side
| GTY (Getty Realty Corporation) | O (Realty Income) | |
|---|---|---|
| 1-year return | +23.2% | +11.3% |
| 5-year return | +40.7% | +14.5% |
| Volatility (ann.) | 18.8% | 17.3% |
| Beta vs S&P 500 | 0.13 | 0.21 |
| Max drawdown (3Y) | -17.9% | -19.3% |
| Market cap | $2.0B | $58.5B |
| P/E (trailing) | 20.2 | 45.4 |
| Dividend yield | 5.79% | 5.20% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | GTY | O |
|---|---|---|
| 2022 | +11.7% | -7.4% |
| 2023 | -8.8% | -4.5% |
| 2024 | +9.9% | -2.1% |
| 2025 | -2.9% | +12.2% |
| 2026 | +24.0% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTY and O good diversifiers for each other?
Only partially. A correlation of 0.65 means GTY 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 GTY and O?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.71 over the last year and 0.68 over 5 years.
Is O a good diversifier for GTY?
Only partially. A correlation of 0.65 means GTY 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 0.65 mean?
On the −1 to +1 scale, 0.65 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/gty-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gty-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GTY correlations · O correlations
