IGR vs O: Correlation
Measured on weekly returns over the past three years, CBRE Global Real Estate Income Fund (IGR) and Realty Income (O) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGR and O?
Over the past 3 years, IGR and O moved with a correlation of 0.66, which is strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.66 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 302.5 %².
By 3-year correlation, O places #9 of the 24 assets tracked against IGR. Neither side won the trailing year by much: +7.8% against +11.3%. Risk is not evenly split, since IGR carries 1.5 times the volatility of the other side.
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.
IGR vs O: side by side
| IGR (CBRE Global Real Estate Income Fund) | O (Realty Income) | |
|---|---|---|
| 1-year return | +7.8% | +11.3% |
| 5-year return | -4.7% | +14.5% |
| Volatility (ann.) | 26.5% | 17.3% |
| Beta vs S&P 500 | 0.81 | 0.21 |
| Max drawdown (3Y) | -29.5% | -19.3% |
| Market cap | $0.7B | $58.5B |
| P/E (trailing) | 15.4 | 45.4 |
| Dividend yield | 7.73% | 5.20% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | IGR | O |
|---|---|---|
| 2022 | -35.5% | -7.4% |
| 2023 | +8.6% | -4.5% |
| 2024 | +1.2% | -2.1% |
| 2025 | +5.2% | +12.2% |
| 2026 | +16.8% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGR and O good diversifiers for each other?
To a limited degree. At 0.66 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 IGR and O?
The IGR/O correlation stands at 0.66 on a 3-year window (1 year: 0.62, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is O a good diversifier for IGR?
To a limited degree. At 0.66 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 0.66 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/igr-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/igr-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IGR correlations · O correlations
